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Apartments More Expensive this Last Third of the Year

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(Photo: The Matusita house before 2016 remodeling. Facebook)

Price per square meter in Pueblo Libre, San Miguel, and Jesus Maria were the first ones to increase.

The average price in soles of apartments in Lima increased 0.5%, regarding the price in American dollars it went up about 1.4%.

According to experts, this increase was caused by inflation registered in districts such as Pueblo Libre, San Miguel, and Jesus Maria. All these districts are considered part of the “mid-level sectors” along with Lince and Magdalena, while La Molina, Miraflores, San Isidro, San Borja and Surco which are high-level districts and therefore more expensive (in this article you can verify those areas where houses and apartments are more expensive). However, in the upper districts, the average price per square meter decreased. Dropping 0.7% in constant soles but rose by just 0.2% in nominal dollars.

The average price per square meter in the districts of the middle segment, in constant soles, increased 1.1% compared to the second quarter. In as much, that in nominal dollars it raised almost 2%.

Another factor associated with the increase in the price is the increase in land prices and labor rates. Also, the possibility of increasing the sales volume has a direct impact on the price of housing. Hopefully, this measure taken by the Ministry of Housing that looks to reduce mortgage loans and boost sales will help young couples invest in new homes.

Important to note that this increase is totally normal within the ranges expected during the last part of the year.

Do you think the price of apartments and houses will decrease or increase this coming year?

(Source. Cover Photo Archive)

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Aris Sandrea

A native of Zulia, Venezuela. Aris joins linvinginperu after moving to Lima to work as a content creator. Bachelor’s degree in accountancy and 2 years of experience as a professional article writer and community manager. Watching movies and series, reading books and riding the bicycle is some of his preferred activities. Passionate about the idea of traveling the world to learn more about other cultures.

Contact: aris.sandrea@gmail.com