In 2021, 14,990 homes were sold in Metropolitan Lima and Callao, an amount that exceeds by 26.6% what was observed in 2020 (11,839 units), reported from the Association of Real Estate Companies of Peru (ASEI).
The group even stressed that despite being compared to a year where the economy suffered a sharp contraction due to the pandemic, 2,816 more homes were sold in 2021 than in 2019 (see infographic).
“This indicates that we have a resilient real estate market with a large real non-speculative demand, and that families have a motivation, and expectation, to buy homes taking advantage of the low interest rate of the real estate sector and multiple banks, as well as the facilities of the Government through Credito MiVivienda”, he stated. Ricardo Arbulu, director of ASEI.
On the other hand, Arbulú estimated that around 27,000 homes were sold at the national level, considering the total of Lima and Callao with approximately 12,000 from provinces.
How are the prices?
In the year of study, it was observed that the average price per square meter (m2) reached S/ 6,600 in December, which represents an annual variation of 9.9% (S/ 597) compared to the same month of 2020 (S/ 6003).
In that sense, Top Five (San Isidro, Miraflores, Barranco, San Borja and Surco Nuevo) registered an annual variation of 7.4%, achieving an average value per m2 of sale in S/ 7,997. However, this sector leads market sales.
follows him Modern File (Magdalena del Mar, Lince, Surquillo, Jesús María, Pueblo Libre and San Miguel), with an average value of S/ 6,696 per m2 and a variation of 7.5%.
Arbulú explained that Modern Lima is the most dynamic area in terms of sales, since it houses 46% of the total units delivered. This is explained because the average ticket in San Isidro can cost up to S/ 830,000 for having larger land, while in Jesús María, it does not go below S/ 6,000 as it has 67 square meters as a base, which yields a ticket of S/ 420,000.
In addition, Modern Lima concentrates 41.5% of the real estate offer, followed by Top Lima with 36.3%.
While in Callao and Lima Norte (Independencia, San Martín de Porres, Comas and Carabayllo), the lowest average values are found, with S/ 3,759 and S/ 3,483, respectively.
Finally, Arbulú specified that the real estate market remains healthy since it has 7.3% of the offer in immediate delivery.
They guarantee sectoral growth
From the Peruvian Chamber of Construction (Capeco), they estimate that construction production contracted by -10.9% during the last quarter of 2021, however, This will not prevent the sector from growing 33% in total compared to 2020 and exceeding the 2019 level by 15%.
This result is due to the favorable performance of the execution of public works, the housing market and the informal construction segment, adds the union.
The word
Ricardo Arbulú, director of ASEI
“This indicates that we have a resilient real estate market with a large real non-speculative demand, and that families have expectations of buying taking advantage of the low interest rate.”
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