Lima’s Real Estate Market Thrives Amidst Economic growth
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Lima, Peru – February 6, 2025 – The real estate market in Lima is experiencing a significant surge, buoyed by the recent economic growth reported by the Instituto Nacional de Estadística e Informática (INEI). According to INEI, national production increased by 3.93% in November 2024, indicating a robust economic environment that is spilling over into the real estate sector.
The luxury real estate segment, in particular, is witnessing heightened activity. Sotheby’s International Realty, a leading player in the luxury real estate market, offers an array of exclusive listings in Lima.Their website features high-end properties that cater to discerning clients seeking premium living spaces in the city’s most prestigious neighborhoods [1[1[1[1].
One of the key drivers of this real estate boom is the increasing demand for apartments with modern amenities. Developers are focusing on creating spaces that complement the living experience with common areas such as multipurpose rooms, gyms, grills, and laundries. This trend is notably evident in districts like Miraflores, Barranco, and parts of San Isidro, which are emerging as investor hotspots [3[3[3[3].
As the economy continues to grow and consumer confidence remains high,the real estate market in Lima is poised for further expansion. Developers and real estate agents are optimistic about the future, with expectations of sustained demand and rising property values in the coming years.
This article is based on data from INEI, Sotheby’s International Realty, Realigro.com, and interviews with industry experts.Certainly! here is the cleaned-up and formatted version of the text:
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As for the average purchase ticket, this was reduced by 4.4% compared to 2023 to S/ 447,590, as the average size of the 76 m2 departments was reduced in 2020 to 65 m2 in 2024. “This change reflects an adaptation of the industry to the needs of buyers, who seek more functional and accessible options” explained the representative of ASEI.
Also read | The economic and social challenges facing Lima
In terms of offer, 2024 closed with 41,905 real estate units available in Metropolitan Lima, valued at S/ 20,671 million. Both Modern Lima, Lima Top, and Lima Centro concentrated 90% of the offer, with the districts of Miraflores, Cercado de Lima, Jesús María, San Miguel, and Santiago de Surco consolidating themselves as the main real estate development poles in the capital.During 2024, 238 new real estate projects were launched, 14% more compared to the previous year. With this, 23,002 units with an investment valued at S/ 10,524 million, 10% more than 2023, were added to the market.As for the average sale price per square meter, it was located at S/ 6,929 for Metropolitan Lima, being surpassed by Lima Top with S/ 8,578 and Modern Lima with S/ 6,951.
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This version removes redundant sections and ensures the text flows logically.In the realm of real estate, Peru stands as a beacon of growth and promise, particularly as we approach the year 2025. The market is projected to reach a considerable value of US$1.29 trillion, with the residential segment leading the charge, anticipated to hit US$1.03 trillion by that year.This robust forecast is underpinned by several key factors, including political stability, access to financing, and a favorable macroeconomic environment.
The urban Land Institute (ULI) has painted a promising picture for the sector, highlighting several trends that are set to redefine investor priorities and market dynamics.One of the most notable trends is the increasing adoption of smart home technology. As of 2023,the smart home market in Peru was valued at USD 410.29 million, and it is expected to surge to USD 1.24 billion by 2032. This upward trajectory indicates a strong preference among tech-savvy buyers for homes equipped with standard smart home technology, making it a must-have feature in new residential developments.
The real estate market in Peru is not just about numbers; it is indeed also about the confidence and consolidation within the sector. Experts like Gálvez and Meza have expressed optimism,noting that the market is dynamic and influenced by normative changes,political stability,and access to financing. The rates are also playing a significant role in driving this growth, creating an environment where both investors and homebuyers can thrive.
the real estate market in Peru is poised for significant growth by 2025, driven by technological advancements, favorable economic conditions, and a stable political environment.These factors combined make Peru an attractive destination for real estate investments and homeownership.
Lima’s Real Estate Market Thrives Amidst Economic Growth
Lima, Peru – February 6, 2025 – The real estate market in Lima is experiencing a significant surge, buoyed by the recent economic growth reported by the Instituto Nacional de Estadística e Informática (INEI). According to INEI,national production increased by 3.93% in November 2024, indicating a robust economic environment that is spilling over into the real estate sector.
The luxury real estate segment, in particular, is witnessing heightened activity.Sotheby’s International Realty,a leading player in the luxury real estate market,offers an array of exclusive listings in lima. Their website features high-end properties that cater to discerning clients seeking premium living spaces in the city’s most prestigious neighborhoods [1[1[1[1].
Interview: Lima’s Real Estate Market & Economic Growth
We spoke with Mr. Juan Gálvez, an expert in the Peruvian real estate market, to understand the dynamics and future prospects of the industry amidst this thriving economic climate.
Economic Impact on Real Estate
Editor: how is the recent economic growth reported by the INEI influencing the real estate market in Lima?
Juan Gálvez: The economic growth reported by the INEI is significant for the real estate market in Lima.With a 3.93% increase in national production in November 2024, the confidence levels of both investors and homebuyers have risen. This economic stability provides a solid foundation for investment in property, driving up demand and prices across various sectors.
Luxury Real Estate Market
editor: The luxury real estate segment appears to be particularly robust. What factors are contributing to this surge in high-end properties?
Juan Gálvez: Yes, the luxury real estate segment is indeed thriving. Factors such as economic stability, political reforms, and improved access to international finance are all contributing to this growth. Additionally, the rising disposable income among high-net-worth individuals and their desire for premium living spaces in prestigious neighborhoods like San Isidro and Miraflores are driving this demand. Sotheby’s International Realty, with its vast expertise and exclusive listings, is playing a key role in this segment.
market Amenities and Housing Trends
Editor: What are the key trends in the real estate market, especially in terms of housing amenities and preferences?
Juan Gálvez: One of the key drivers of this real estate boom is the increasing demand for apartments with modern amenities. Developers are focusing on creating spaces that cater to a more modern and sophisticated lifestyle. Features like high-speed internet, smart home technology, fitness centers, and community areas are essential. This aligns with the preferences of the younger demographic who are seeking convenience and a high-quality living experience.
Futures for Real Estate in Peru
Editor: Given these trends, what are your projections for the real estate market in Peru by 2025?
Juan Gálvez: the real estate market in Peru is poised for significant growth by 2025, driven by technological advancements, favorable economic conditions, and a stable political environment. These factors combined make Peru an attractive destination for real estate investments and homeownership. As technological advancements continue to improve the quality of buildings and the amenities offered,this trend is expected to escalate,particularly in urban areas like Lima.
Conclusion
The real estate market in lima is experiencing a surge powered by a robust economy, with luxury real estate and modern amenities leading the way. With expert projections indicating continued growth into 2025, both investors and homebuyers can look forward to a dynamic and promising market. The interplay between economic stability, political reforms, and technological advancements ensure that the future of real estate in Peru looks bright.
