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Interbank organizes real estate convention - Peru lacks 2.1 million homes

Living in Peru
Israel J. Ruiz

Limeans who visit the Jockey Plaza convention center from October 17-19 will be able to take advantage of this year's real estate conference organized by Interbank.

Aside from having leading companies offering an array of real estate projects, participants will be informed on opportunities to purchase a home, be immediately pre-qualified for a loan as well as given information on prices, payment methods and the location of property for sale in Peru.

The conference is aimed at exposing consumers to the supply of homes currently available in the country as well as future projects and the opportunities that housing programs offer.

Aside from Interbank, leading construction and real estate companies will be giving future home owners information needed for the purchase or real estate in Peru.

"The objective is to give information on new financing possibilities and guide consumers on one of the most important purchases of their lives, their own home," said Interbank's commercial manager César Morales.

It is estimated that Peru has a 2.1 million home housing deficit. With a demand for 300,000 homes and a supply of only 14,500, Lima's deficit has been calculated at approximately 285,000 homes.

35 percent of the homes being offered in Lima are being sold in the districts of Surco and Miraflores, said Morales.

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# yeah Right! says :
10 October, 2008 [ 16:58 ]

I've got it!  2.1 million homes needed, lets ship down the homes that are foreclosed on in the US!  We can't sell them, they need them here....UGH!

# jb says :
11 October, 2008 [ 12:18 ]

More loans to people who can't repay.  Just what the world needs.

# Jeff says :
11 October, 2008 [ 12:40 ]

The government decides and sets the rules and laws of how the banks and lenders play. The CEO and Administrators play with these rules as best they can for the benefit of profit. Yes they take risk by giving loans to risky business and people. The people want a house. Wanting a house is a good thing. For the banks and lenders giving loans to those of to high a risk, falls back on banks or lenders. These lenders are in it for the profit. The Banks and Lenders made stupid decisions giving loans to people of high risk. Then these banks and lenders are on the stock exhange. Pleople invested in these stocks. ..... Also these loans are group together by the 100s or 1000s and sold as stocks over and over again. Paper being passed around and around, being sold over and over on the stock exchange. When to many people begin to loose their homes, the banks loose money and the stocks go down. The stocks are NOT real estate. So those who own all these stocks just loose. The whole system comes crashing down on itself.
 But the good news.  There are those who have house loans and other loans who continue to pay on them. This is stable and very very big in size. The economy will have to go into a recession of sorts for all the bad debt and crashing stocks.. but it will stablize with the good loans and solid stocks.. its just going to take time. Regretably, many business will close and many will become unemployed until this process stablizes..

# SA says :
11 October, 2008 [ 13:02 ]

There is no shortage of houses in Lima. Sadly most are not affordable to the local population.

# Rachel says :
11 October, 2008 [ 13:49 ]

The question is how many Limeans can afford to pay a mortgage that is 3x the average monthly salary?

There's not a shortage of homes, there's a shortage of nice homes and people with deep pockets to pay for them.

# Jeff says :
11 October, 2008 [ 13:56 ]

Its a curious thing to say ".... no shortage of homes, but the problem is no one can afford them...." If you create a thing to sell and the price selling this thing is to high for the market to buy, the business selling this thing will fail. Doesn't the man selling the home wish to sell or not? Either the man selling the houses will lower his price or they will never sell at all.

I understand the comment of ".....there's a shortage of nice homes and people with deep pockets to pay for them....."

# Jeff says :
11 October, 2008 [ 14:17 ]

Hmmm, imagine the President, woke up with a dream and decided to approach the Peru people with a dream. "Peru!!", lets build a Peru home energy system. Let’s build windmills, solar panels, create more lakes and water reserves, plant trees, find ways to store energy cheaply and over all create jobs. These energy systems will require builders, electricians, mechanics and more. We will make better use of our own oil, natural gas.  For the average Peruvian I offer to lower you energy bill, promote more jobs and clean the environment at the same time. I will encourage our government to find contractors to build simple, good, clean homes for our people who all can afford them. We will make more lakes and wells so clean water is more available. Also by becoming more energy independent from the world, I make our country less influence by world politics. I will create more schools, so all our children can have more opportunity. As a whole Peruvian Citizen, I offer more freedom, by being more energy independent and environmentally friendly! 

# Jeff says :
11 October, 2008 [ 18:39 ]

 If you think of an economy like a pyramid. The most blessed are at the top and the most helpless are at the bottom. We as Christians who are blessed, should help the helpless. If you raise the bottom of the pyramid,the foundation rises and so does the whole pyramid. The problems with most leaders or groups of leaders at the top of the pyramid, they are so focus, so selfish on themselves, the top of the pyramid grows and grows and becomes fat and wildly. Eventually the top of the pyamid becomes like a big fat head with a narror neck. But the neck can not support the head and snaps. Power corrupts and the head destroys its self. The structure colapses.
 The blessed Christians should always focus on the most helpless. To fight corruptions of power, always encourage free speech and elect leaders of the peoples wishes!