Paris’ metro system is set for a 35-billion-euro investment over the next 10 to 15 years. Plans for the “Grand Paris Express” call for 68 new metro stations and improvements to the existing network.
Exciting news for a city that we believe in for the long-term… and probably forever, no matter the cost of property. Experts are, of course, predicting increased prices in areas around the new stations. They claim, for example, that an apartment that costs 3,000 euros per square meter today, close to the proposed Line 15, could double in price by the time the line opens in a decade’s time.
Meanwhile, the contract for the much-anticipated Line 2 of Panama City’s metro system has been given to a consortium led by Alstom (coincidentally, a French multinational company).
Alstom will supply 21 Metropolis trains, signalling solutions, and traction substations for the line. The new extension, running from San Miguelito to Nuevo Tocumen, will be able to carry up to 40,000 passengers per hour between 16 stations along the 21-kilometer line. The line is scheduled to open to commuters in 2019.
What about property prices here? Panama City will never be Paris. But as the city continues on the up, prices continue to climb. Lief Simon, Editor of Global Property Investor’s Marketwatch, says he hopes to see Panama reach Singapore prices of around US$15,000 meter in the long term. Right now, they’re averaging around US$2,800 in the higher-end areas… far from the 12,000 euros (US$13,390) per square meter (and upward) you’ll face in the historic heart of the City of Light.