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.