Peruvians Living Abroad Can Purchase Peru Homes in Their Name

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.