SilverbackPeru wrote:Had the usual look at house prices in Lima again on adondevivir the other day. I check the prices out every now and again and I still don't understand how the housing prices are so high or how they can justify the prices. The market really is insane.
That crash has to come soon like it did in Spain... there is no way a two bedroom apartment in Jesus Maria or Lince should be able to command 150000 dollars or more - never mind the ridiculously priced apartments out in Miraflores and their prices... the bottom has to come out of the market sooner or later... it's just about waiting.
Experts on this board have been predicting a bubble burst for a long time, below is just one example.
"Kinda like global warming."
"by Jimmy111 » Thu Sep 11, 2008 9:34 am
Personally, I think it is going to crash. The price of the real estate has gone way beyond what the average person can afford even with help from the extended family. There is no control over building in Lima and I think I heard that at the moment there was more than 200,000 vacant new apartments. That is a lot of units to fill plus there are many more being built"viewtopic.php?f=1&t=4835#p30376