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Office Market Report | 3Q 2022

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Key takeaways

  • Positive absorption continues as demand for prime buildings improves and tenants look to high quality spaces.
  • The Banking Area reported the strongest demand, followed by the San Francisco submarket, and the East prevails attracting tenants primarily from regional headquarters.
  • Panama Pacifico and the East reported the highest average asking rents at $16.11 per sqm. per month.
  • Despite the high supply of existing projects, rents are beginning to slowly increase toward the end of the year.


Download our Office Real Estate Market Report by filling out the form to get an overview of the third quarter of 2022 and learn more about:

  • Market Environment
  • Inventory and Availability
  • Rental and absorption activity
  • Data by Submarkets in the Metropolitan Area

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Office Market Report | 3Q 2022

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Related Experts

Carla Lopez

Valuations Director

Panama City

Carla Lopez, MAI has a twenty five years of sound experience in the real estate field.  She has worked in both public and private sector, as urban planner, architect, consultant and valuer.  Among her relevant carreer experience, she has worked as Urban Planner, National Heritage Director of Panama;  Multilteral Organizatons Consultant; Director of Valuation and Advisory of CBRE Panama, Latin America Research Director for CBRE, and Director for In Situ Corporation.  Mrs. Lopez has performed a large number of appraisals and real estate consulting assignments in Panama and Latin America, including Colombia, Costa Rica, El Salvador, Peru, Ecuador and Dominican Republic; she is also an expert in real estate market research from Mexico to Argentina.

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