He Central Reserve Bank of Peru (BCRP) reported that mortgage credit expanded 5.6% in May compared to the same month in 2022, maintaining the dynamism observed in previous months.
According to the highest issuing entity, this type of loan in the national financial system increased 0.5% in the month of May compared to April 2023.
“This type of credit was favored by mortgage loans in soles, which expanded 6.6% year-on-year in May. Compared to April, mortgage loans in soles grew by 0.6%,” the BCRP explained.
Similarly, the dollarization of mortgage credit stood at 8.6% in May 2023, 0.8 percentage points less than a year ago.
It should be noted that, according to the BCRP, the average value of the medium propertycomparing it with figures for the second quarter of 2022, is equivalent to 15.1 years of formal annual labor income in Lima.
In detail, in the second quarter of 2022, the average price of a property was S/627,786, while the average annual income of a formal worker was S/42,062.
The data
In March 2022, the price of homes per square meter rose 6.75% in Metropolitan Lima and Callao during the past 12 months, according to a study by the Association of Real Estate Companies of Peru (ASEI).
Source: Larepublica
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