How much is it to build a house in the Panama City, Panama area of Marbella?

Marbella is an urban area with mostly apartments (not houses), and there is not a lot of land remaining that does not already have a structure on it.  Some people who want to build a house have purchased land with an existing structure, torn it down and then build the new structure.  Mostly, however, this is done to build new apartments or condos, not houses.

 

I generally tell people that to build a house in Panama now is expensive and drains your time and...

Marbella is an urban area with mostly apartments (not houses), and there is not a lot of land remaining that does not already have a structure on it.  Some people who want to build a house have purchased land with an existing structure, torn it down and then build the new structure.  Mostly, however, this is done to build new apartments or condos, not houses.

 

I generally tell people that to build a house in Panama now is expensive and drains your time and patience.  Especially if you're retired, it is not worth the hassle.  And especially if you would like to live in Marbella, it is better to buy an existing house or, more likely for most people, buy an apartment or condo.

 

Here's how it works out: Not including the land, the approximate cost to build a house in the area of Marbella in Panama City ranges from $800 to $1,000 per square meter ($74 to $93 per square foot), so a 2,500 square foot house would range from $200,000 to $232,000 or so.  It can even go higher but it all depends on the finish and appointments.  The cost for land, however, can be around $2,000 per square meter (about $200,000 for a quarter acre).

 

    

Even though construction in Panamá is booming, some areas are more difficult than others.  Construction materials  and land are higher than in years past.  Many regulations apply, including  blueprints by a Panamanian architect, and permits from different state departments, which makes it, sometimes, very frustrating, in addition to taking a long time.

 

Specifically in Marbella, construction is mainly modern high-rise apartment...

Even though construction in Panamá is booming, some areas are more difficult than others.  Construction materials  and land are higher than in years past.  Many regulations apply, including  blueprints by a Panamanian architect, and permits from different state departments, which makes it, sometimes, very frustrating, in addition to taking a long time.

 

Specifically in Marbella, construction is mainly modern high-rise apartment buildings, and it is very rare to find an empty piece of land, as Marbella is in the center of Panamá City, very close to the banking area.  Also traffic is very heavy and land is expensive.