Short Term Rental in Panama City, Panama - $600 a month
Upto the end of 2008 short term rental was very popular in Panama City because there was a shortage of hotel rooms.
For a new apartment with good but not high quality fixtures and fittings it was typical to pay $3000 a month.
At this time companies like Panama Casa and Panama Corporate Living were making very good money with dozens of apartments having very high occupancy rates.
How things changed in 2009. More hotel rooms became available and the worldwide recession resulted in large drop in demand for short term rental accommodation in Panama.
The short term rental companies got their fingers burnt as they were committed to long term rental agreements with the apartment owners and the prices of hotel rooms dropped significantly in 2009.
Apartment blocks continue to get built apace in Panama in 2010 and there are several very large hotel projects in construction so even with the improvement in the economy and the accommodation demands of the Panama Canal extension programme there are plenty of choices of where to stay.
A new alternative in this market is the Hotel Santana which is located a few hundred meters form the historic Casco Viejo.
This new hotel has 40 , spotless clean fully furnished double rooms with air conditioning, satellite TV and free Wifi. The price does not include breakfast (like furnished accommodation) but this is on offer for only $3 or $4. There is also a very large lobby with bar and snack service.
On a daily rate, rooms cost $39 a night but for longer terms the prices come down dramatically with a week costing $200 and a month only $600.
Although the initial amount must be paid up front, the hotel will give the flexibility of extending your stay at the initial price.
Full details on the hotel are available at www.hotelsantana.com.pa