During March of this year, the price per square meter (m²) in Metropolitan Lima reached S/6,675, Urbania reported. There is an increase of 0.3% compared to the previous month, and almost S/50 compared to what was seen a year ago.
The report states that Brand new apartments were the ones that had the greatest increase in prices and, in general terms, since June of the bicentennial, the m² ranges between S/6,500 and S/6,730.
Luciano Barredo, Marketing Manager of Urbania and Adondevivir, points out that there are several factors to consider when looking to buy a home, since apart from the price, it is key to know the transportation access routes, as well as schools, universities and/or or shopping centers; These play an important role in making a decision.
How are the prices going?
Urbania mentions that Barranco is the district with the highest price in the market (S/9,393), followed by San Isidro (S/9,112) and Miraflores (S/8,646).
And, by area, San Isidro Sur is the one with the highest average, with S/11,781; to his escort, we find Barranco Cultural (S/9,974) and Nuevo Barranco (S/9,934).
On the other side of the coin, we have the districts with the cheapest prices. At the helm, we have San Martín de Porres, with S/3,172; then, to Callao (S/3,557), San Juan de Miraflores (S/3,567) and Los Olivos (S/3,787). La Perla closes the podium with S/4,084.
In that line, La Victoria and Chorrillos accumulate the greatest price variationwith 13.6% and 11.0%, respectively.
As La República reported, the rise is constant in these districts due to the high dynamism of real estate projects: in the case of the Victorian commune, due to its arrival in central avenues such as Canada, Aviación, Nicolás Arriola and Javier Prado; while in the fishing district, because it is a more comfortable option for apartments facing the sea when compared to Miraflores and Barranco.
Although they are not the most expensive, the m² continued to rise: in La Victoria it reached S/6,062 and in Chorrillos, it reached S/5,669.
“We must consider that these are average prices represented in soles; However, in many cases the properties may be in dollars. It is important to take this into account when negotiating because the exchange rate may or may not be a recommended option when purchasing a property,” Barredo recommended.
He added that the ideal is for the real estate loan taken to be in the currency in which the salary is received.
Be careful with sales
From the Peruvian Chamber of Construction (Capeco), reported that the sale of new homes in the capital fell 6.1% in 2023, and in contrast, the construction of non-marketable buildings, including homes for own use, has experienced a significant increase.
Even so, In Lima, the top units placed are those that had the least contraction. For example, the unsatisfied demand for housing amounts to 25,000 units per year in Mivivienda: meanwhile, sales barely reach 8,000.
Rental and sale prices in Lima
A 60 m² apartment in the middle of the city, with two bedrooms and a parking lot, has an average price of S/413,000, according to information from Urbania.
If the apartment has three bedrooms and is 100 m², its cost rises to S/645,000.
In the case of rental, the report reveals that a department for two bedrooms is located at S/1,925, or S/32 per m².
The rent for a three-bedroom apartment is S/2,954, Urbania said.
The highest rent is also in Barranco at S/3,921 per month.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
