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Office Market Report | 4Q 2020


At the end of the fourth quarter of 2020, the Panama City Office Market remains in the "Recession" phase of the Real Estate Cycle. This is a result of the surplus supply developed over the last years and a considerable drop in sales and rental rates.


Throughout the year, radical changes have been identified in leasing contracts, as a result of the growth in vacancy levels and the difficult situation experienced by investors, promoters and developers who are affected by low profitability.


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