Four years ago, the coronavirus pandemic disrupted not only productive activity in Peru, but also the cost of living. Since then, the price per square meter (m²) reached S/6,675 in Metropolitan Lima, and thus shows a variation of 13.93%, according to Urbania.
In the months before the outbreak of the health emergency, The properties were with an average of S/5,859, today, they bear an increase of S/816.
“There is an increase in both the sale price and the rental price in Lima and this is mainly due to the increase in interest rates that have been recorded in recent years, but which for this year already show a progressive decrease, which generates very positive expectations. both for companies in the sector and for people interested in acquiring new homes,” commented Leandro Molina, country manager of Grupo QuintoAndar for Argentina and Peru.
Market trend
Within the analysis by district, it stands out that The victory and Los Olivos are the ones that had the greatest rebound in their prices. In detail, the commune is home to the commercial emporium of Gamarra It went from S/4,268 to S/6,062 per square meter, while the city north of the capital went from S/2,923 to S/3,787 (+26.56%).
They are followed by Cercado de Lima, with a variation of 25.75% — and now it is at S/5,719 per m² — and Breña, with a ratio of 21.78% — and with a price of S/5,179 per m².
In districts such as La Victoria and Cercado de Lima, currently, there is a significant increase in supply, to the point that they have presented increases of more than 20% in their prices per square meternot only due to the increase in interest rates, but also due to the greater demand for new buildings.
From the QuintoAndar Group they pointed out to La República that the increase in their values is explained by the development of more residential works in the Santa Catalina area – the nerve center of the capital as it concentrates avenues such as Canada, Aviación, Nicolás Arriola, Javier Prado Este and Paseo de la República—and which, due to its proximity to Lince and San Isidro, lends itself as a more attractive option.
How is the rent?
As reported by La República, the investment in a property is recovered in 20 years with rent, considering that the rental rate, before the end of 2023, was close to 5%. By jurisdiction, there is an increase of more than 20% in La Molina (+17.12%) and Santiago de Surco (+15.09%). In summary, the average rental price exceeds S/2,900 in the capital and, according to specialists cited by this newspaper, it is better to invest now, since the BCRP interest rate is heading downward.
Molina specifies that It will always be a profitable investment to acquire a property, because these increase in price over the years; However, it is necessary to stay informed of the evolution of the market to know which districts have the most positive variations.
The other districts with a more pronounced variation in their prices are Chorrillos (+14.88%) —and an average of S/2,285 per m²— and San Isidro, with an increase of 14.4%.
The cheapest cards to buy a home
At the beginning of the year, this newspaper highlighted that the greatest contraction in the price per m² was in Los Olivos (-5.4%) because real estate companies had to reduce the value of the square meter so that it could be more accessible to potential buyers. San Juan de Miraflores and San Martín de Porres complete the table, with average prices of S/3,538 and S/3,175 per m². The Callao region has S/3,534, and its value decreased 3.3%.
Specialists maintain that acquiring a property will always be a profitable investment because its price increases over the years and therefore it is crucial to stay informed about price variations.
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.
