Housing Prices

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TheMan17
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Housing Prices

Postby TheMan17 » Sat Aug 19, 2017 2:52 pm

Is it just me or are prices a bit high here in Lima right now? I haven't been here for a decades time so I haven't seen that "jump" happen but I can see the gradual climb. Why doesn't Peru keep official statistics of the housing market here so that we can make real-time comparisons.

I feel like right now isn't a great time to but, correct me if I am wrong. I love living here but am not sure if I want to invest in a market that feels a bit unstable and could potentially burst at any moment. Do foreclosures exist here in Lima? Or houses that were taken by banks due to delinquency? I am asking these questions because there is no way people can afford an expensive flat living off of a local wage.

Thank you my friends.


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Re: Housing Prices

Postby SilverbackPeru » Mon Aug 21, 2017 4:13 am

Yeah the house prices compared to local income is just bonkers when you remember that the average income per family is just $600 to $700 per month in Lima. Lima especially is really weird compared to other places I've been to in say Europe as the distribution of wealth is usually better spread across population, until like in Lima where there seems to be a group of people making a lot of money working in the natural resources businesses while the rest of Lima lives in extreme poverty.

However you have to ask "what happpens if the demand for Peru's natural resources declines?" If you look at Peru's and South Americas economic history you see spells of boom from natural resources followed by bust and although there are signs that Peru is spreading it's business growth into other sector more stable like agriculture to give the economy a bit more stability you can't help but wonder what will happen to all these mortgage payments if people lose their jobs. When I left last year there seemed to be a fear among a lot of people in the resource business about job security with the slow down of China's economy.

They are very good at designing nice modern apartments here and some of the colonial style houses are really nice but even then the prices they sell for are too expensive. It's way cheaper to buy a home here in England than it is in Peru (and i'm even pay taking about Peru's povinces here after seeing the prices on here and other sites) and you aren't the only person who just can't get their head around the whole wage to house price rate here in Peru. I don't know if it's going to collapse but there surely must be some problems ahead and I wouldn't want to invest either!
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Re: Housing Prices

Postby Cactus fan » Mon Aug 21, 2017 2:45 pm

SilverbackPeru wrote:Yeah the house prices compared to local income is just bonkers when you remember that the average income per family is just $600 to $700 per month in Lima. Lima especially is really weird compared to other places I've been to in say Europe as the distribution of wealth is usually better spread across population, until like in Lima where there seems to be a group of people making a lot of money working in the natural resources businesses while the rest of Lima lives in extreme poverty.


The kind of people who buy all those new flats are people who run their own business or have a high paid government job. If you are just an employee working for a wage then you'll be stuck in 'Hotel Mama'.


SilverbackPeru wrote:They are very good at designing nice modern apartments


They look good but the quality is bad. Many suffer from mould. And the single glazing isn't keeping the noise from the street out. And after a few months, those new buildings are cover in smog looking like they are 50 years old.
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Re: Housing Prices

Postby TheMan17 » Mon Aug 21, 2017 6:28 pm

Thank you guys for the input on my question. Is the construction really that bad? Even in the modern type of houses/apartments that I go to that have the beautiful granite countertops? Back in the states I am aware that everything is made out of wood but I can get a house with multiple acres for a more affordable price than what I am seeing here. I really do enjoy Peru but do not want to get stuck in a trap and then fall upside down :shock:
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Re: Housing Prices

Postby windsportinperu » Mon Aug 21, 2017 7:57 pm

Do not panic, my friends.

The house prices in Peru has had a drop during the last 12 months. It will be dropping more and more I think. Now you can see houses for about 220k to 250k that used to cost 300k 2 or 3 years ago. So there is a gradual drop in prices, and will be the same thing. I am not sure if the same phenomenon has happened in appartments, because it is a different market, I have not been interested on.

Actually some very few properties as sold, and more and more properties are offered, so it wil continue to drop because of the natural world wide economic law of supply and demand

There is not even a remote option to happen a dramatic drop in the prices, the so call bubble burst.. Peru has a very stable Economy that is not only based on exportation of raw minerals, but also based on the big fishing industry, the great tourism, the fabilous gastronomy, the diverse agricultural crops as mangos, avocacdos, asparagus, bananas, etc, etc, etc.

Gringos are somehow traumatized by the fear of a sudden bubble burst as it happened in USA in 2008. See the real reason why it happened in US, and will notice that the peruvian scenario is more responsible and stable, indeed. The bubble burst in USA happened because it was a real massive scam perpetrated by banks and official government organization.

https://en.wikipedia.org/wiki/Causes_of ... ing_bubble
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Re: Housing Prices

Postby Cactus fan » Tue Aug 22, 2017 4:45 am

TheMan17 wrote:Thank you guys for the input on my question. Is the construction really that bad? Even in the modern type of houses/apartments that I go to that have the beautiful granite countertops?


If you look at the speed they build those apartment buildings then they must take some shortcuts.
Builders put in granite countertops, build in wardrobes, nice looking bathrooms and a gym or even swimming pool is even thrown in so it attracts buyers. But the walls are thin so you can hear the blaring music of the neighbors all night. And the windows are single glazing, so from early till late you can hear the combis racing past and a concert of car alarms going off all day long.
Mould is a big problem in those new buildings due to inadequate ventilation and humid air.
Some buildings are only a few months old but look 50 years old due to the smog clogging to it. And even if you close your windows, the smog finds it's way inside. I had to clean my home daily.

Safety is another issue. The locks are off low quality and they use those doors filled with cardboard. They are easy to kick in. Many buildings have a security guard but they don't go further than the front door. A friend of mine got his flat ransacked by one of his own neighbors.

I personally would go for a house in the country side. Quite, safe and better quality of life without the crime and the pollution of the city.
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Re: Housing Prices

Postby SilverbackPeru » Tue Aug 22, 2017 6:34 am

SilverbackPeru wrote:They are very good at designing nice modern apartments


They look good but the quality is bad. Many suffer from mould. And the single glazing isn't keeping the noise from the street out. And after a few months, those new buildings are cover in smog looking like they are 50 years old.[/quote]

Yeah I know, that's why i said designing and not building! lol. The quality of building here is beyond awful! They put up a reinforced concrete frame for the apartment and then fill the walls in with those waffer thin brick that are divided in six squares, and yes those single glazed windows do nothing to keep out noise. The buildings look nice, but even a turd would like good if you covered it with enough plaster!!

I know housing costs are all about location but the quality of the construction really makes it hard to justify some of the prices they ask for! I do really like the designs of some of the modern apartments however and some of the residential streets in the suburbs are very pretty (even if litter is still a big problem here and the electrical street cables are never ever tidy) with nicely laid out parks. But you have to pay a lot of money to live in those areas and unfortunately 90% of Lima does look like a waste dump.
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Re: Housing Prices

Postby SilverbackPeru » Tue Aug 22, 2017 6:39 am

Cactus fan wrote:
SilverbackPeru wrote:Yeah the house prices compared to local income is just bonkers when you remember that the average income per family is just $600 to $700 per month in Lima. Lima especially is really weird compared to other places I've been to in say Europe as the distribution of wealth is usually better spread across population, until like in Lima where there seems to be a group of people making a lot of money working in the natural resources businesses while the rest of Lima lives in extreme poverty.


The kind of people who buy all those new flats are people who run their own business or have a high paid government job. If you are just an employee working for a wage then you'll be stuck in 'Hotel Mama'.


I dunno, I would say people working in Natural resources are easily better off than government officials, I know people who are on well over $1000 a week in that line of work.
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Re: Housing Prices

Postby SilverbackPeru » Tue Aug 22, 2017 6:50 am

TheMan17 wrote:Thank you guys for the input on my question. Is the construction really that bad? Even in the modern type of houses/apartments that I go to that have the beautiful granite countertops? Back in the states I am aware that everything is made out of wood but I can get a house with multiple acres for a more affordable price than what I am seeing here. I really do enjoy Peru but do not want to get stuck in a trap and then fall upside down :shock:


Not always, but generally most of the time yes it is that bad. You can generally tell the quality of the building if you've spent a year watching them build the apartment and I've watched a few of them going up in my time there and they always use those paper thin bricks. God only knows what the quality of piping is and other materials.

I'll admit I might be a bit biased on the subject because I have a burning hatred of Peruvian builders and handy men because of constant endless nightmares I've had with their quality of work! So I'm always going to think they are all borderline useless!
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Re: Housing Prices

Postby Cactus fan » Tue Aug 22, 2017 7:54 am

SilverbackPeru wrote:
TheMan17 wrote:I'll admit I might be a bit biased on the subject because I have a burning hatred of Peruvian builders and handy men because of constant endless nightmares I've had with their quality of work! So I'm always going to think they are all borderline useless!


Most of them are ''haga todos''. Today they are bricklayer, tomorrow they are painter, the next day they are plumber, on Friday they fixe your fridge and if you have toothache on Saturday, they will be happy to pull your tooth out for a few ''Lucas''.
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Re: Housing Prices

Postby TheMan17 » Wed Aug 23, 2017 1:17 pm

8) How can I tell if they filled my walls with concrete or with corn flakes? On the outside it's all concrete. I know what you mean about the single-pane glass windows they have here, if they put a double up that actually blocked the sound it'd make sleeping past 830 realistic. I like the modern style but want quality as well.
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Re: Housing Prices

Postby windsportinperu » Wed Aug 23, 2017 3:17 pm

TheMan17 wrote:8) How can I tell if they filled my walls with concrete or with corn flakes? On the outside it's all concrete.


You may use this very safe and modern method to see the quality of the wall. :)

https://www.youtube.com/watch?v=9aNyRqk5WRs
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Re: Housing Prices

Postby Cactus fan » Mon Sep 04, 2017 4:36 pm

SilverbackPeru wrote:They are very good at designing nice modern apartments here and some of the colonial style houses are really nice but even then the prices they sell for are too expensive. It's way cheaper to buy a home here in England than it is in Peru (and i'm even pay taking about Peru's povinces here after seeing the prices on here and other sites) and you aren't the only person who just can't get their head around the whole wage to house price rate here in Peru. I don't know if it's going to collapse but there surely must be some problems ahead and I wouldn't want to invest either!


Those 'nice modern apartments' look nice but the quality is low. The sell them before they are even constructed and show you one of those ''departmentos pilotos' which are nicely fitted out and luxuriously furnished to make people buy them but once you get the keys after construction you get a completely different place. Thin walls, fixtures and fitting that break quickly. If you live close to the sea, you get mold all over the place. Combis racing past, windows covered in smog and the noisy car alarms day and night.

For less money, you can a much nicer home and in an nicer part of town in Europe.

But I think Peruvians don't realize it that they really get ripped off for everything and that's why they keep paying those foolish prices.
House prices, food, cars,...they pay much more. And they buy it all on credit at an extortionate interest rate.

And the poorest Peruvians pay the highest prices as they live from day to day. They can only afford to buy everything in small quantities. That's why Peru is full of those 'tiendas'.
The owners buy everything at a wholesaler. They buy a bag of rice or sugar of 20kg and divide in smaller bags of 250 gr and 500 gr.
People even buy cigarettes by the piece at their local tienda instead of a whole packet. Instead of buying a big bottle of shampoo which works out cheaper, they buy those 25ml mini packs of shampoo.

I often saw people buying 1 or 2 soles worth off fuel at a gas station because that's all they can afford. But every time, you have to drive to the gasstation, start your motorbike or car, you use extra fuel so at the end of the day, you use much more fuel.

I asked my gf and she said that people don't understand that. They think that they did a good deal when paying ''only'' 2 soles for a pack of 250 gr of rice instead of buying a big bag because a big bag of 10kg which costs 30 soles. But when you buy the small pack you pay 8 soles per kg instead of 3 soles per kg for the big bag.
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Re: Housing Prices

Postby Polaron » Tue Sep 05, 2017 10:01 pm

I've lived in 9 different countries and in all but 3 of them, I've lived in the national capital. As housing prices go only San Jose Costa Rica in Asuncion Paraguay we're less expensive than Lima. the other cities, namely Madrid Buenos Aires and Santiago de Chile were significantly more expensive.

For peruvians yes housing is expensive and Lima. However I think it's important that we compare apples to apples when comparing prices. A house in Lima may be expensive but I doubt it cost more than a similar building in London or Washington or Paris or maybe even Ottawa.

And don't even get started on San Francisco or New York. In either of those two cities a studio apartment in easily cost $2,500 per month or more. And don't even get started on houses which to rent often run in five figures.

Lima is expensive compared to the rest of Peru but compared to other National capitals it seems to me that it comes in on the economical side.

With regards to Quality I am very much in agreement with the other posters here it's definitely caveat emptor.
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Re: Housing Prices

Postby SilverbackPeru » Wed Sep 06, 2017 6:27 am

Polaron wrote:I've lived in 9 different countries and in all but 3 of them, I've lived in the national capital. As housing prices go only San Jose Costa Rica in Asuncion Paraguay we're less expensive than Lima. the other cities, namely Madrid Buenos Aires and Santiago de Chile were significantly more expensive.

For peruvians yes housing is expensive and Lima. However I think it's important that we compare apples to apples when comparing prices. A house in Lima may be expensive but I doubt it cost more than a similar building in London or Washington or Paris or maybe even Ottawa.

And don't even get started on San Francisco or New York. In either of those two cities a studio apartment in easily cost $2,500 per month or more. And don't even get started on houses which to rent often run in five figures.

Lima is expensive compared to the rest of Peru but compared to other National capitals it seems to me that it comes in on the economical side.

With regards to Quality I am very much in agreement with the other posters here it's definitely caveat emptor.


Comparing Lima to London, Paris or Ottawa isn't comparing Apples to Apples however as those are first world cities where you have drinking water, properly flushing toilets, fully functioning public transport, electricity that won't come out in bursts and frazzle your electronics, good national health care services and education systems, power cables that are tidy, proper collection of rubbish and generally the houses are of an extremely higher quality of materials and build, huge inner city green areas and parks (although the malecon is extremely nice, but small!!), fully functioning police service and courts etc, etc.

It's a bit like comparing a Skoda to BMW really!
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Re: Housing Prices

Postby Cactus fan » Wed Sep 06, 2017 4:06 pm

SilverbackPeru wrote:
Polaron wrote:I've lived in 9 different countries and in all but 3 of them, I've lived in the national capital. As housing prices go only San Jose Costa Rica in Asuncion Paraguay we're less expensive than Lima. the other cities, namely Madrid Buenos Aires and Santiago de Chile were significantly more expensive.

For peruvians yes housing is expensive and Lima. However I think it's important that we compare apples to apples when comparing prices. A house in Lima may be expensive but I doubt it cost more than a similar building in London or Washington or Paris or maybe even Ottawa.

And don't even get started on San Francisco or New York. In either of those two cities a studio apartment in easily cost $2,500 per month or more. And don't even get started on houses which to rent often run in five figures.

Lima is expensive compared to the rest of Peru but compared to other National capitals it seems to me that it comes in on the economical side.

With regards to Quality I am very much in agreement with the other posters here it's definitely caveat emptor.


Comparing Lima to London, Paris or Ottawa isn't comparing Apples to Apples however as those are first world cities where you have drinking water, properly flushing toilets, fully functioning public transport, electricity that won't come out in bursts and frazzle your electronics, good national health care services and education systems, power cables that are tidy, proper collection of rubbish and generally the houses are of an extremely higher quality of materials and build, huge inner city green areas and parks (although the malecon is extremely nice, but small!!), fully functioning police service and courts etc, etc.

It's a bit like comparing a Skoda to BMW really!


If you jump into the back of a lorry in the Calais, then upon arrival in the UK, you get a free flat worth millions in Kensington or Mayfair plus welfare payments for life.
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Re: Housing Prices

Postby adrian Thorne » Wed Sep 06, 2017 11:22 pm

Cactus fan wrote:If you jump into the back of a lorry in the Calais, then upon arrival in the UK, you get a free flat worth millions in Kensington or Mayfair plus welfare payments for life.


It didn't take long for Euroman/ChiChi to get back in to his old ways of miss-information.
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Re: Housing Prices

Postby windsportinperu » Sat Sep 09, 2017 7:02 pm

housing prices have had a drop of about 5 to 10%

http://gestion.pe/noticia/272248/precio ... provincias
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Re: Housing Prices

Postby Alpineprince » Sat Sep 09, 2017 9:33 pm

windsportinperu wrote:housing prices have had a drop of about 5 to 10%

http://gestion.pe/noticia/272248/precio ... provincias

Then there is this "Lima housing prices have no where to go but up".
http://gestion.pe/inmobiliaria/desarrolladora-casas-departamentos-cual-se-vende-mas-sector-inmobiliario-2199495
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Re: Housing Prices

Postby mrsteak » Sun Nov 26, 2017 12:12 am

SilverbackPeru wrote: If you look at Peru's and South Americas economic history you see spells of boom from natural resources followed by bust and although there are signs that Peru is spreading it's business growth into other sector more stable like agriculture to give the economy a bit more stability you can't help but wonder what will happen to all these mortgage payments if people lose their jobs.


you will soon see a sharp collapse of the Peruvian "economy".... just take Spain and the years 2000-2010 as the best example.

No sustainable economy in Peru.
No infrastructure in Lima to host 11 (15?) Million of people
No elaborated banking sector to "absorb" financial shocks
No business model except overprices tourism (without talking about the less legit one)
Government with NO agenda except signing international treaties to declare Peru as "developed" country
Nonsensical administration
No rescue plans in case of a serious natural disaster.
...

It is looking MUCH worse than the originating situation in Spain before the crisis.

Also take the look at the rate PEN/USD, the chart tells you everything. There is a clear sell setup in USD/PEN chart. Smart investors are withdrawing money from Peru since about 3 years. I expect a sharp rise (loss of value of nuevo sol) of the tipo de cambio from actually about 3.25 to ranges of around 4.2 - 4.50 nuevos soles for one USD. YES, you will be getting about 4.2-4.5 nuevos soles for 1 (one) USD. Soon. I expect it to not take longer than one year until we see a very sharp rise.

This is the optimistic scenario even. If things in Peru get even worse, we can see a tipo of cambio between 8 and 10 soles for one USD. Yeah. Depends on how the government acts on this. If the government is overthrown and riots spread maybe there will be a Venezuela-like crisis with hyperinflation.

I recommend you to make your rental contracts in soles, not USD.

Well, all AFAIK and without warranty :mrgreen:

BUT YOU HAVE BEEN WARNED.
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Re: Housing Prices

Postby fanning » Mon Nov 27, 2017 9:20 pm

I have been in Peru since 1997. The sol has been between 2.55 and 3.60 in that period. It has been one of the most stable currencies in the region. It is now around 3.25. After the collapse in the '80ties, the economy has been kind of stable since '92. That is the big gamechanger you are predicting ?

For example Holland has a foreign debt of around 4500 billion USD , and international reserve of 39 billion USD
Peru has a foreign debt of 80 billion , and international reserve of 63 billion USD
Holland has AAA status for ages, and Peru is now A3 climbing from B2 in 1996.

So apart from your resentment of Peru, what makes you warn us expats from investing in Peru, and even pay rent in dollars ???
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Re: Housing Prices

Postby mrsteak » Fri Jan 19, 2018 7:15 pm

TheMan17 wrote:Thank you guys for the input on my question. Is the construction really that bad? Even in the modern type of houses/apartments that I go to that have the beautiful granite countertops? Back in the states I am aware that everything is made out of wood but I can get a house with multiple acres for a more affordable price than what I am seeing here. I really do enjoy Peru but do not want to get stuck in a trap and then fall upside down :shock:


yeah the construction is really very bad. Frequently not even peruvian laws are followed to just rip off the clients and make more money. In our flat the walls seem to be made from sand... instead of 1:3 cement/sand they probably used 1:8 or so. With every little quake the walls crack more and more. Last year there was a 4.5 in Callao and a wall near the elevator ("concrete" wall!) just has split into two pieces :shock: how scary is that. Now imagine a 7 lvl quake here - we will be dead!!!

It is not only the structure, it is also the interior finish, doors, windows, tiles, electrical installation, everything is just done with "culo" as a peruvian would say.

You can expect a 400.000 USD apartment to have been built with materials worth maybe 25.000 USD. So you can answer your question yourself why the apartments are so freaking expensive.
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Re: Housing Prices

Postby mrsteak » Fri Jan 19, 2018 7:24 pm

fanning wrote:For example Holland has a foreign debt of around 4500 billion USD , and international reserve of 39 billion USD
Peru has a foreign debt of 80 billion , and international reserve of 63 billion USD
Holland has AAA status for ages, and Peru is now A3 climbing from B2 in 1996.


what makes the difference is the industrial base in Holland. Ever seen any high tech product from Peru?

Anyway you are right that also european countries will soon have very serious problems. However the problem will be global. I doubt Peru will be well during the global collapse, it is far too desorganized and has no emergency plans / no emergency capability. Foreign reserves will not help you much if USD is maybe declared to be invalid, who knows. Just look at the current budget problems in US.

I think instead of investing into phony real estate in Peru you should rather spread your money. Yeah... buy a little everywhere around the globe, then you may be fine the next 30 years. Buy some cheap RE in Uruguay or Paraguay. Buy crop land there. Buy a house in Venezuela and in Ecuador. Buy a flat in Spain. Buy some land + house in some peaceful african country. Just spread it! And yeah with the price of just one apartment in Miraflores you can buy all that at once. So what you are waiting for...
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Re: Housing Prices

Postby Vannessfamx5 » Tue Jan 30, 2018 10:02 pm

mrsteak wrote:
fanning wrote:For example Holland has a foreign debt of around 4500 billion USD , and international reserve of 39 billion USD
Peru has a foreign debt of 80 billion , and international reserve of 63 billion USD
Holland has AAA status for ages, and Peru is now A3 climbing from B2 in 1996.


what makes the difference is the industrial base in Holland. Ever seen any high tech product from Peru?

Anyway you are right that also european countries will soon have very serious problems. However the problem will be global. I doubt Peru will be well during the global collapse, it is far too desorganized and has no emergency plans / no emergency capability. Foreign reserves will not help you much if USD is maybe declared to be invalid, who knows. Just look at the current budget problems in US.

I think instead of investing into phony real estate in Peru you should rather spread your money. Yeah... buy a little everywhere around the globe, then you may be fine the next 30 years. Buy some cheap RE in Uruguay or Paraguay. Buy crop land there. Buy a house in Venezuela and in Ecuador. Buy a flat in Spain. Buy some land + house in some peaceful african country. Just spread it! And yeah with the price of just one apartment in Miraflores you can buy all that at once. So what you are waiting for...



Absolutely! I can’t believe how expensive RE is in Peru. Now it’s definitely not the time to buy.
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Re: Housing Prices

Postby mrsteak » Tue Jan 30, 2018 11:47 pm

Vannessfamx5 wrote:Absolutely! I can’t believe how expensive RE is in Peru. Now it’s definitely not the time to buy.


Seems the prices go down already in Lima. Second hand RE seems to be falling already however there is still lot of super-expensive new construction in Lima, that is soon being thrown at the market. These new RE prices do not go down and this tells me that it is financed by banks. They cannot lower the sale prices as this would endanger their balance sheets. Who can lower the prices are old owners with already paid or mostly paid RE. They just take what they can.

I saw a huge residential complex close to Ovalo Higuereta. Seems 150 or so flats are being constructed there, at insane prices. In Surco lot of new buildings remain empty as far as I can see. Looks like money laundering.... :shock:
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Re: Housing Prices

Postby mrsteak » Tue Jan 30, 2018 11:54 pm

Some more info:

countries with affordable RE right now are US, parts of Caribbean, Spain, Venezuela.... probably more :mrgreen: affordable means it is cheaper than the average over last 10-20 yrs.

To my knowledge Lima is now around 3-4 more expensive than in the past.
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Re: Housing Prices

Postby mrsteak » Wed Jan 31, 2018 12:08 am

I also wonder who is the target group for constructions e.g. like this one:

https://urbania.pe/ficha-web/venta-de-d ... or-3761122

well, 840.000 USD for 431 m^2, sounds like the current Lima price right? Would be then a 100 m^2 space for around 210.000.

However, you know what is weird about these constructions? It says it is a 4 bedroom... about 100m^2 bedrooms? WTF....well you will have some space allocated to the gangways, baths, kitchen and so on, however this would still give 70-80 m^2 per bedroom.... this is super weird. Nothing against spacious bedrooms but 80 m^2? You still need to fill that somehow with furniture right? Super oversized bed maybe? Super giant closet? Still does not sum up! Moreover if you do not have windows on the side, this is like living in a super giant cave.

I wonder who will buy it?! A huge family remodeling and subdividing then the bedrooms to be separate living units? Please enlighten me!
Vannessfamx5
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Re: Housing Prices

Postby Vannessfamx5 » Wed Jan 31, 2018 8:42 pm

mrsteak wrote:Some more info:

countries with affordable RE right now are US, parts of Caribbean, Spain, Venezuela.... probably more :mrgreen: affordable means it is cheaper than the average over last 10-20 yrs.

To my knowledge Lima is now around 3-4 more expensive than in the past.


I am a realtor in GA and I can say this is true. Tomorrow I will be listing a house 4 beds, 3 baths in a top school district with a finished basement and .69 acres for only $225,000. Huge yard! You can’t get that in Peru unless it’s far from Lima or in a really bad part of the city.
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Re: Housing Prices

Postby mrsteak » Wed Jan 31, 2018 10:39 pm

Vannessfamx5 wrote:I am a realtor in GA and I can say this is true. Tomorrow I will be listing a house 4 beds, 3 baths in a top school district with a finished basement and .69 acres for only $225,000. Huge yard! You can’t get that in Peru unless it’s far from Lima or in a really bad part of the city.


last time I looked at US it was in Miami and you can easily find houses there for $50.000. Maybe not in Miami city but parts of FLL or Boca Raton (wtf the name)... I prefer bad neighborhoods in US than so called good neighborhoods in Lima, really. When I went the first time to Little Havana and Little Haiti I was a bit scared, however hey they are first class districts compared even to Surco or Miraflores LOL.
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Re: Housing Prices

Postby Vannessfamx5 » Wed Jan 31, 2018 10:42 pm

mrsteak wrote:
Vannessfamx5 wrote:I am a realtor in GA and I can say this is true. Tomorrow I will be listing a house 4 beds, 3 baths in a top school district with a finished basement and .69 acres for only $225,000. Huge yard! You can’t get that in Peru unless it’s far from Lima or in a really bad part of the city.


last time I looked at US it was in Miami and you can easily find houses there for $50.000. Maybe not in Miami city but parts of FLL or Boca Raton (wtf the name)... I prefer bad neighborhoods in US than so called good neighborhoods in Lima, really. When I went the first time to Little Havana and Little Haiti I was a bit scared, however hey they are first class districts compared even to Surco or Miraflores LOL.


That’s funny

In Georgia the market’s value depends a lot on the school district and the school depends on the citizens contribution to taxes. Areas that pay more taxes have the best schools.
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Re: Housing Prices

Postby mrsteak » Wed Jan 31, 2018 10:57 pm

Vannessfamx5 wrote:In Georgia the market’s value depends a lot on the school district and the school depends on the citizens contribution to taxes. Areas that pay more taxes have the best schools.


Bad neighborhood may have bad schools true, but it will also have couple of other bad things... so do not think property value just depends on the schools. It is the overall package.

As I say I can hardly find bad districts e.g. around Miami. No way comparable to any bad or even average parts of Lima. It only looks similar to Miami when your plane is still high above Lima, then you still smile, but when the plane gets closer your smile turns into shocked face. I already mentioned that to me Lima looks like someone dropped a bomb on it (and not only Lima, some SA cities give you similar experience when you approach it on a plane, e.g. Sao Paulo.).
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Re: Housing Prices

Postby toughrider » Thu Feb 01, 2018 6:30 pm

Smart people don't buy in Peru. They squat and get the land or house they squatted allocated to them.

Or they rent a place. Pay a months deposit and a months rent in advance and after that they no longer pay. As it easily will take at least 2 years to evict them, they can live rent free. After getting evicted, they start over again.
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Re: Housing Prices

Postby mrsteak » Fri Feb 02, 2018 12:33 pm

toughrider wrote:Smart people don't buy in Peru. They squat and get the land or house they squatted allocated to them.

Or they rent a place. Pay a months deposit and a months rent in advance and after that they no longer pay. As it easily will take at least 2 years to evict them, they can live rent free. After getting evicted, they start over again.


your view on the life is really weird... with the new law now in Peru you will be evicted after 14 days not paying your rent. The owner will come with police and guns and drill your doors and throw everything onto the street.

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