Living in Peru : your everyday companion

425 housing projects for sale in Lima, Peru

Living in Peru
Israel J. Ruiz

According studies done by TINSA Peru, the local subsidiary of a Spanish real estate consulting firm, there were 425 private housing projects for sale in Lima in the second semester of 2008.

Reports revealed there were less housing projects for sale in the second semester of 2008 than the first semester, when there were 493.

Of the 425 projects for sale in the second semester, it was found that sixty were new ones. They entered the market between April and June 2008.

The other 365 have been on the Peruvian market since this year's first semester. 86 new projects were put on sale between January and March 2008.

The Limean districts with the most private housing projects on the market are Surco (82), Miraflores (80), Magdalena del Mar (44), San Borja (39) y Jesús María (25).

These are followed by San Isidro (25), San Miguel (23), Surquillo (18), Pueblo Libre (15) and Chorrillos (14).

The districts with the most new projects are Surco (16), Miraflores (8), and Magdalena, San Borja and San Miguel (each of which has six new projects).

 | |

• APEC PERU 2008 : APEC Leaders Commit to Avoiding Trade Barriers for a Year
• APEC PERU 2008 : Peru: APEC Summit Became "Ideal Scenario" for Trade Deals
• APEC PERU 2008 : APEC to Support Adequate Financing Measures for Businesses
• APEC PERU 2008 : Peru Has Clear Commitment with APEC Goals, says Garcia
• APEC PERU 2008 : Reaching Doha Round Goals is more Important that Beating the Global Financial Crisis

# Mike says :
14 August, 2008 [ 19:36 ]

By the projects being for sale, do they mean the entire project (i.e. the whole building), or just units in the building?

# Israel says :
14 August, 2008 [ 20:40 ]

In some cases the whole building can be bought but it's not common. The project consists of the apartments and they are what's being sold.

Instead of counting how many apartments were being sold in Lima, the study grouped them into "housing projects". In other words, there are thousands of apartments currently being sold in 425 buildings or "projects" in Lima.

Hope this clears it up a bit.

# Mike says :
14 August, 2008 [ 22:47 ]

Thank you, it does.  It might also be interesting to know the number of apartments. By this standard if even just a few apartments are available in one project, it would be included.

You know, in the US at least, a "project" is a slum (i.e. very poor area).  A "complex" is probably the term we would use.  I don't know how they would term it in Britain.

# Israel says :
15 August, 2008 [ 00:18 ]

You're right.

I tried to avoid that confusion by pointing out that they were private housing projects as opposed to public housing. Like you said though, projects has a negative connotation. Like "the projects" or "section 8".

# Jorge says :
17 August, 2008 [ 04:26 ]

My mom keeps complaining every now and then that the price of apartments has risen to over $100,000 USD in many cases. Mostly because the dollar has dropped to roughly 2.8 soles. I kind of miss the 3.4 sol dollar. With so many new buildings in Miraflores I wonder how different it will be from 5 years ago.

# Ricardo Hicks says :
16 September, 2008 [ 17:23 ]

There are a lot of retirees investing in Central and South America lately.  I have been blow away by the amount of people investing in Nicaragua real estate in my native country of Nicaragua.  It seems many are staring to invest in properties all over South America as well.  We are happy in Nicaragua for the needed investments.