More foreign investors attracted by Peru’s real estate market

Living in Peru
Israel J. Ruiz

Over the past several months foreign investors have shown more interest in investing in Peruvian real estate, said Marco Puga, the investment manager at DH Mont construction company.

Puga affirmed that Peru’s real estate market was turning into a refuge for investor’s money during a time when the world was experiencing a financial crisis.

"Colombians, Chileans, Spanish, U.S. and even Bolivian, not only large companies but also small ones are coming to explore the Peruvian market because they consider the country is still growing," said Puga.

Furthermore, the investment manager affirmed that Peru’s stability was another determining factor in attracting foreign investors, explaining that growth had begun in 2007 because of unstable international markets and a real estate crisis in Europe and the U.S.

Another thing that is bringing investors to Peru is the fact that the country’s demand for housing has not been satisfied yet, said Puga, confirming that the prices of apartments in districts such as Miraflores had doubled.