House price dynamics in Panama City

Kavarnou, D. and Nanda, A. (2015) House price dynamics in Panama City. Journal of Real Estate Literature, 23 (2). pp. 315-334. ISSN 0927-7544

Abstract/Summary

In this paper, we analyze the drivers of the housing markets in Panama City. To the best of our knowledge, no formal academic analysis has been documented on the Panamanian housing market. In this paper, we outline key unique characteristics of the market and provide a brief review of broader economic indicators and housing market literature. Using a unique dataset comprising property-level information over 2007–2014, we employ a hedonic modeling framework to analyze the impacts of certain amenities and drivers that may affect housing values. The results indicate several unique features of the Panamanian housing market.