Trends and preferences for the acquisition of households they remain constant in Lima. By the first half of 2023, almost 50% of user searches were for sale, while more than 40% demanded rentals, according to the latest report from the Urbania real estate market.
In this context, the mortgage rates They have been presenting a downward trend in recent months. To this is added that the Central Reserve Bank of Peru (BCRP) announced that it will maintain its reference interest rate at 7.75% for the seventh consecutive month and a reduction is expected to be announced soon.
“Variations in rates have affected people’s decision-making power, however we are seeing a decline in mortgage rates. In the last three months it has been falling and as of today it is the lowest rate in the last ten months,” said Gisella Postigo, commercial director of Urbania and Adondevivir. She reviews what kind of properties citizens prefer to acquire.
What type of property do Lima residents prefer?
According to the Urbania report, 64% of searches are directed to apartment ads. Likewise, 24% opted for houses, while only 12% opted for acquiring land.
“The search for apartments is quite extensive, much more than for houses. It is because of the type of urbanization that we have in Lima, there are many buildings, apartments and there is not so much land available, especially when we think about the central area, the historic center”, highlighted Vinicius Oike, Economics, Data, and Communication Specialist of Quinto Andar, grupo owner of Urbania and Adondevivir.
It is important to specify that, during the pandemic, the demand for apartments fell by up to 80%, to then recover in the middle of the year (2020). For its part, the flow of house searches, in the middle of the same year, exceeded apartment advertisements by 1.6 times. For 2021, both had similar requests. (See graph).
The report also indicates that, compared to the pre-pandemic, the demand for both properties has decreased. “Apartments receive 34% less demand pressure than in the pre-pandemic while houses receive 44% less demand pressure per notice,” they reiterate.
Source: Larepublica
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