Property for sale in Lima

Lima (pop. 8.2 million) is seeing an explosion of construction of new apartment buildings in residential areas, new shops, new buildings. Prices of residences have been rapidly during the past two years, after a long period of stagnation. Get more information on property for sale in Peru.

A couple of years ago, the price of land was around US$30 the square metre. But since last year you can’t find anything below US$60 for larger lots, and US$100 for smaller ones. Los Cóndores - the elite zone of Chaclacayo - has tripled its value to $150 and $200 per square metre. After years of slack, most of the houses that were on sale have been sold, and all are being remodeled and modernized. Not many are left to be sold.Peru has enjoyed spectacular economic growth during these years (2006-2007), with 8.5% GDP growth in 2007, after 8% growth in 2006.

Combined with much other good economic news, this has had a miraculous effect on Peruvian property for sale values.The good news includes more private investment (growing at 20% a year), and a new willingness to save (now 24% of GDP). And consumer confidence, higher than it has been for decades.