ABSTRACT
This chapter focuses on countries where transactions are accurately recorded and there is a certain degree of transparency. Markets covered here include Mexico, Panama and Costa Rica. The industrial market has been the most institutional asset type in Mexico for the last 20 years. The segment of real estate markets has grown with North America Free Trade Agreement, the agreement driving the development of factories in Mexico, starting with the northern cities on the US border followed by the Bajio and Western regions more recently. Mexico has always been the number one touristic market in Latin America, ranking in the World Top 10 by tourism arrivals and also by number of hotel rooms; and in the Top 20 by touristic income. New commercial real estate development has practically stopped in Panama due to oversupply in the market. San Jose is undergoing a regeneration process, whereby many old industrial assets have been converted to residential or office and retail space.
