Thread: Hotel occupancy down 18% -- sales down 80%...

Wow -- according to "The Visitor" hotel occupancy is down from 78% to 64% from the year before. (That's an 18% drop).

Even more brutal is...
Real estate sales are also down 80% around the same level from the year before (big article in the upcoming "real estate free fall" in this week's Square Feet).

The potentially great news is: price drops will follow accordingly (and they are already doing so, as seen by those that follow Encuentra24.com closely and more and more I'm seeing big ads put by people who are dropping the prices by 20% or more so they can "sell immediately".)

Those that have already invested might see all of the above as bad news -- I DON'T.

Because when the prices come back down to reality, will help Panama grow to the next level.

Matt

Good report..

Finally it looks like Panama is being effected to I was wondering when it was gonna happen..

That is actually good news, hotel prices, rentals and house prices etc were at bubble levels, it is about time they fell, I was wondering when, now we can get some better deals, or at least more reasonable prices that better reflect developing world type prices over the next few years...

It is not surprising, people's budget are tight this day. I guess even wealthy people are doing the same thing. Well, this time is bad sales for expensive, lavish houses but I guess it is a good time for rentals.