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Peruvians Living Abroad Can Purchase Peru Homes in Their Name

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Peru's new Housing Minster, Enrique Cornejo Ramírez

© Expreso

(LIP-ir) -- Regardless of their legal status while living abroad, Peruvians living overseas will be able to purchase a home in their name through Mi Vivienda, a government sponsored housing program, announced Peru's new Housing Minster, Enrique Cornejo Ramírez.

Up until now, Peruvians living abroad were only allowed to purchase a home with their remittances under the name of someone that was living in Peru.

It is now possible for Peruvian expats to purchase their home under their own name. Cornejo assured that this decision would benefit tens of thousands of Peruvians living abroad.

Peruvians overseas will be able to take advantage of Techo Propio and Mi Hogar, other housing programs supported by the Mi Vivienda program, explained Rudy Wong, the general manager of Mi Vivienda.

Peru's Housing Minister was confident that the release of this news would create such a high demand that 80 thousand loans for homes in Peru would be approved within the next 18 months.

If this proves to be true, the number of loans predicted to be approved would almost double the 45 thousand loans that have been approved in the past 18 months.

Other information

When loans begin to be offered depends on when the company issuing the loans begins sending sales representatives to Europe, the US and Latin American countries to offer the loans to Peruvian expats. Once (local) banks are allowed to open branches in foreign countries, applicants will be qualified for loans where they are living.

Regardless of expats' immigration status in the foreign countries, they will be considered for loans as long as they have a Peruvian identification card (DNI). Interest rates will be established by the company that is offering the loan.

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# MIguel Martinez says :
10 January, 2008 [ 01:47 ]

This sound to good to be true,but if the authorities  really want to help the peruvians,why they don't help people in PISCO,my family still on the street begging for food so is for a house.As peruvian I feel very bad because I can do nothing besides send some money for food.I just wondering and how can I request those loans,I left PERU almost 30 years ago and my country is like I'm not a peruvian citizen.Please help people which really need a help I wish INDESI,COFOPRI do they job and stop to promise what they can do.My family lose they house the earthquake destroy the whole house inside the roof fall down but the front wall still up but not inside,and they toll my family they don't qualify for help this in the district of TUPAC AMARU.

# Maria Rosa Benites says :
13 January, 2008 [ 02:59 ]

Please submit a detail information on how to apply to buy a home in Lima.  I need to know what are the requirements in details if is possible.

# Romano says :
13 January, 2008 [ 06:09 ]

Más información en el sitio Web del Fondo Mi Vivienda:

http://www.mivivienda.com.pe/portal/

# Maria Rosa Benites says :
13 January, 2008 [ 14:14 ]

I need to know how can I email directly to the program MI VIVIENDA to obtain the information I am requesting.
The requirements are not specific and would like more information.  The Banks listed on the email do not exist in my State.
Can someone from the program contact me directly???

# jose vasquez says :
22 January, 2008 [ 17:54 ]

i am a puerto rican american that is married to a peruvian what a way to go this will dramaticly boost your economy and give yor peaple an apportunaty to invest in there own country. mr ramirez,major league move i am interested in investing in a home in peru send me info!

# UN says :
23 January, 2008 [ 08:15 ]

Miguel: The issues to the concerns you make is very valid and more attention should be given to these issue,these communities and their people are in dyer need of major support and help and  from their own Government and should be acknowledged first,i'm not saying that expat Peruvians living out side their home country,should not be given the opportunity to own their own homes,its just unrealistic that a major concern,relating to those effected by a natural discaster still are not being addressed and given the full attention needed.I know people in these area,[as indicated by Miguel] that may have no choice but to leave their Country,with only the shirts on their back and the shoes on their feet,Health and Hygiene issue are also a major concern too having to do this,it will eventuate to the stage where,there is no other option [all for one  and one for all]

# Miguel Martinez says :
23 January, 2008 [ 17:28 ]

Thanks,for you view of points,but I never going to understand how the goverment  can give many choices to the ones left the country and forget the ones really need help.This morning by talking with the people of"COFOPRI"(iCA),they toll me,that people wich request the title of ownership in 2005 still waiting Lima anwsers,because the city hall of PISCO stop COFOPRI to give those titles,and now COFOPRI after the earthquake are working in those cases,my question is?and now what going to be happeng with those people wich requesting those titles after the earthquake,how many years they going to wait,that's not fair.I'm proud tobe a peruvian and wish the best to my country.GOD BLESS PERUVIANS FOREVER.

PARDON MY GRAMMAR MISTAKES.

# Sandra Flores says :
8 February, 2008 [ 13:41 ]

I do agree with the facts that peruvians living in Peru need help and programs that could help them get a house. But why we're always waiting for the gouvernment to do something? If the gouvernement don't do anything then we should do something. We should stop complaining and complaining and people that have money should go to Peru and help this people directly. I have not enough money to buy a house for a family in Pisco but I think that if we all decide to work toguether we must be able to build a house for at least one family.

Anyways, if some one knows which canadian bank offers the program Mi Vivienda please let us know.

# Dore says :
14 February, 2008 [ 10:48 ]

I don't know very much about the details of the whole process and no plan is perfect but it would seem to me that Peruvian expats buying homes in Peru will help their families.  Won't someone have to live in the homes? Can the expat buyers allow their families to live in the homes they purchase? I totally agree that the families affected by the earthquakes and other natural disasters should be receiving assistance first, but even in countries like the US that can involve a long wait, so if an expat can buy a home for their family in Peru to live in helping them directly and probably a lot quicker that has to be a good thing, correct?

# henry hamilton says :
2 March, 2008 [ 12:43 ]

please , can you tell me if american citizen can buy home in peru under thei names ?   when i can find a good information in this matter ?

thanks

Henry

# Iris Ramirez says :
14 March, 2008 [ 19:06 ]

I need to know detail information on how to apply to buy a home in Lima. I need to know all requirements in details if is possible.I am citizen usa.      

# carl says :
14 March, 2008 [ 20:34 ]

There is complete freedom to own properties in Peru under his her names.

# Sandra says :
14 March, 2008 [ 22:09 ]

USA citizen can buy a house in Peru under their names as lomàng as they're peruvians too or has born in Peru or can get the peruvian citizenchip. This program is for peruvians living outside fron Peru. You can get all the information on www.mivivienda.com.pe

# carl says :
15 March, 2008 [ 02:39 ]

In Peru expats own the property they get the title;  real estate taxes as well as home owners association fees are very low compared to Panama (works through the name of a Bank) or Mexico (you do not own the land)

# carl says :
15 March, 2008 [ 02:51 ]

There are very interesting real estate development in top places.
www.imagina.com.pe
www.rodrigoyasociados.com.pe
www.marcan.com.pe
www.inmobilia.com

# Lili kaye says :
9 June, 2008 [ 12:02 ]

I need to know detail imformation on how to appy to buy a home or condomiun and Lima. I am I citizen USA.please coll me or Email at
lilikaye63@hotmail.com  818-427-88-41. thank you.

# Mimi Bennett says :
23 July, 2008 [ 20:41 ]

Hello,

Our company "Golden Dream Homes" just met with Escotia Bank and
we will be helping any Puruvians insterested in buying a property in Lima Peru.

Please email me for details we can provide this info in person or by email

If you are in the L.A. or Orange country area, go to the Peruvian Festival Sanday the 27th from 11a.m to 7p.m at 16200 E. Temple Ave
City of Industry, CA 91744.  Place: Grand Arena

Our company " Golden Dream Homes" will be there to guide you!

Best wishes,

Mimi

(562) 254-5656

# Henry Hamilton says :
23 July, 2008 [ 22:38 ]

Hello Sandera and to all who read this information , thanks for your input . yes i know American can buy a home in peru , and i am not looking to get a loan , i want to buy home in lima in cash , as i find out , there is no problem to buy a home in Peru , the problem is when you want to sell .  when an American citizen has no RUC   number , then he / she , can not sell the home . in order to sell the land or home , one must have a RUC number . again  , to buy is no problem . to sell , RUC   is requiared .

 hope,  my concern is clear to you and all other reading this comment . if you or any other person  has  any other information in this regard  , please E-Mail me .   henry.hamilton@hotmail.com    thanks

# Jet says :
24 July, 2008 [ 00:10 ]

Many people seem to be confusing a few things here.  Just because the country has made it possible for ex-patriats to purchase homes in Peru doesn't mean the government at the same time isnt also helping people living in Peru to purchase homes also.  BOTH things are being done currently by the government.  It's possible to do more than one thing at a time, you know?
One of the things the country is doing is "encouraging" financial institutions to offer home loans at a lower rate if the loan is done in Soles rather than dollars.  This is obviously aimed directly at the local populous.
The Peruvian banking system this year is going to TRIPLE the amount of mortgage loans it issues within the country, to total over $700 million for 2008 as compared to 2005/2006!
Starting in 2009 there will be yet another doubling or tripling of the mortgage loans issued by Peruvian banks for people living within the country, all with the stated goal of allowing more and more Peruvians all all economic status to own their homes or properties and thus dramatically increase the capital wealth of the average citizen.
So again, keep in mind its note a choice of either one or the other.  Just because the country is making it easier for ex-patriats to purchase and own propery within Peru doesn't mean that at the same time they arent doing a lot to also provide people that live in the country to do the same thing.  Also remember, that Peru is just NOW starting to see the fruits of all of the tremendous economic growth of the past decade.  In the next few years the harvest of all of this investment will start to pour in, not just to those on the coast, but to all Peruvians.