Apartment prices in Latin America

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woodchuck
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Apartment prices in Latin America

Postby woodchuck » Tue Jul 02, 2019 9:37 am

https://espanol.yahoo.com/finanzas/noti ... 24920.html

Many feel there is a real estate bubble, but I don't see it in the prices in Peru.


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Re: Apartment prices in Latin America

Postby Formidable 1 » Tue Jul 02, 2019 1:24 pm

woodchuck wrote:https://espanol.yahoo.com/finanzas/noticias/las-ciudades-mas-caras-de-latinoamerica-para-comprar-apartamento-190524920.html

Many feel there is a real estate bubble, but I don't see it in the prices in Peru.


A lot depends on the number of units being built.
If there is a case of overbuilding going on, then the law of supply and demand take over.
Too many built and not enough buyers/renters will result in lower prices.
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Alan
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Re: Apartment prices in Latin America

Postby Alan » Tue Jul 02, 2019 6:19 pm

woodchuck wrote:https://espanol.yahoo.com/finanzas/noticias/las-ciudades-mas-caras-de-latinoamerica-para-comprar-apartamento-190524920.html

Many feel there is a real estate bubble, but I don't see it in the prices in Peru.


Prices in other major capitals in South America are also quite high... and there is a housing deficit in Peru, so if there is a bubble, it's not likely to pop soon.
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Re: Apartment prices in Latin America

Postby windsportinperu » Tue Jul 02, 2019 6:35 pm

I have been at this forum since 2010

The only place in Lima where repetitively i listen the phrase "real state bubble in Peru" is here at expatperu

AFAIK Bubbles cannot last such a big period of time.
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Re: Apartment prices in Latin America

Postby SilverbackPeru » Thu Jul 04, 2019 7:40 pm

windsportinperu wrote:I have been at this forum since 2010

The only place in Lima where repetitively i listen the phrase "real state bubble in Peru" is here at expatperu

AFAIK Bubbles cannot last such a big period of time.


Yeah the word "bubble" has been used a lot since I moved to Peru and it's still yet to burst! That said the prices of property and what you actually get for your money in Lima is pretty appalling! Shoe box sized apartments that will cost you an arm and a leg!
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Alan
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Re: Apartment prices in Latin America

Postby Alan » Fri Jul 05, 2019 1:16 pm

SilverbackPeru wrote:
windsportinperu wrote:I have been at this forum since 2010

The only place in Lima where repetitively i listen the phrase "real state bubble in Peru" is here at expatperu

AFAIK Bubbles cannot last such a big period of time.


Yeah the word "bubble" has been used a lot since I moved to Peru and it's still yet to burst! That said the prices of property and what you actually get for your money in Lima is pretty appalling! Shoe box sized apartments that will cost you an arm and a leg!


That's true, unless you buy an old apartment. These are much roomier, but you need to have luck with the building and neighbors. Older apartments start to suffer from water leakage of copper pipes, which of course drips down and damages walls and ceilings of those below. Unless there are clear rules and good relations, this can be a nightmare!

Also, regarding pricing, recent changes to building codes has boosted up prices as builders are forced to include things such as smoke extractors, wheelchair lifts, steel fire doors and better wiring. That gives us better buildings, but higher prices.

But if you want to go to the conos, or cities in the provinces, you can find property at about 60% of the price of the more central neighborhoods, comparing similar structures.
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Re: Apartment prices in Latin America

Postby SilverbackPeru » Sat Jul 06, 2019 10:12 am

Alan wrote:
SilverbackPeru wrote:
windsportinperu wrote:I have been at this forum since 2010

The only place in Lima where repetitively i listen the phrase "real state bubble in Peru" is here at expatperu

AFAIK Bubbles cannot last such a big period of time.


Yeah the word "bubble" has been used a lot since I moved to Peru and it's still yet to burst! That said the prices of property and what you actually get for your money in Lima is pretty appalling! Shoe box sized apartments that will cost you an arm and a leg!


That's true, unless you buy an old apartment. These are much roomier, but you need to have luck with the building and neighbors. Older apartments start to suffer from water leakage of copper pipes, which of course drips down and damages walls and ceilings of those below. Unless there are clear rules and good relations, this can be a nightmare!

Also, regarding pricing, recent changes to building codes has boosted up prices as builders are forced to include things such as smoke extractors, wheelchair lifts, steel fire doors and better wiring. That gives us better buildings, but higher prices.

But if you want to go to the conos, or cities in the provinces, you can find property at about 60% of the price of the more central neighborhoods, comparing similar structures.


Yeah another problem with the older buildings is they can be extremely ugly! Don't get me wrong there is some nice old buildings but most have the horrible patterned tiled floors and the prison cell bars type windows that just create an awful cold unhomely atmosphere! Compared to how well modern architecture is done in Lima, some really great designs with buildings trying something different but my god do you have to pay for it!!!

I know cities are expensive but I could just never get my head around the cost of living in Lima, especially compared to the average wage. Everyone of my friends complain about the price of housing and Living in the U.K since i've been back, I just laugh and say "Go to Lima!!, It'll make you cry!"

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