Paramaribo, May 26, 2026 - Although the New Civil Code has legally enabled apartment rights since May 2025, practical implementation continues to lag behind. As a result, buildings with multiple residences still cannot be legally split into separate properties. The consequence: investors and developers remain hesitant, and the development of affordable high-rise housing is barely getting off the ground.

Without a functioning apartment rights system, buyers cannot obtain an individual mortgage for an apartment. This blocks an entirely new market: compact, quality, and affordable vertical housing.

REGIONAL BENCHMARK

Guyana

In Guyana, the Condominium Act of 2022 has given the real estate market an enormous boost. The total value of the Guyanese real estate sector is now estimated at USD 25 billion, with apartment complexes as the fastest-growing segment. Banks here issue individual titles directly, allowing buyers to obtain mortgages with ease.

Brazil

In Brazil, the operational apartment rights system (Condomínio Edilício) results in 30 to 40% lower construction costs per unit, as land and foundation costs are efficiently distributed across dozens of units. This makes vertical urbanization affordable for the broad middle class.

The impact on Suriname

Analyses by PAM N.V. show that the current operational impasse is causing direct economic damage:

* 30 to 35% lower entry costs for quality housing in small-scale high-rise buildings remain untapped.* 0% mortgages granted on individual apartments under the new civil code after a full year.* Capital flight: developers are choosing projects in the region because they cannot sell their units separately in Suriname.

“The legislation is in place, but the vital infrastructure is still missing,” states Jeffrey Pengel, founder and director of PAM N.V. “As long as notaries, banks, and the Land Registry cannot process subdivision deeds, apartment rights will remain a reality on paper only. We can build upward, faster, cheaper, and with higher quality - but the practical framework needs to support that.”

Full analysis coming soon

PAM N.V. will soon publish a comprehensive market analysis on apartment rights in Suriname. This document, which will appear in the Insights & Research section, contains concrete recommendations for policymakers, developers, and financial institutions.

The basic website of PAM N.V. is now live. The full, optimized version is expected in June 2026.