BOOM

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chi chi
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BOOM

Postby chi chi » Thu Apr 11, 2013 10:06 pm

Peru is really booming.

The average income is gone up in the last years. Unfortunately, prices too.

People are buying new homes. Condominiums are sold out before the construction has even completed.
More jobs are being created.

But is it not going to be like the Celtic Tiger in Ireland. Ireland went from being the poorest country in Europe to almost the richest country in less than a decade...but felt down.

I was in Ireland last December and the cost of living in Dublin was almost the same as Lima.
Ireland is recovering but very very slow.


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tupacperu
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Re: BOOM

Postby tupacperu » Tue Apr 16, 2013 2:06 pm

chi chi wrote:Peru is really booming.

The average income is gone up in the last years. Unfortunately, prices too.

People are buying new homes. Condominiums are sold out before the construction has even completed.
More jobs are being created.

But is it not going to be like the Celtic Tiger in Ireland. Ireland went from being the poorest country in Europe to almost the richest country in less than a decade...but felt down.

I was in Ireland last December and the cost of living in Dublin was almost the same as Lima.
Ireland is recovering but very very slow.



We are waiting for the BIG-BOOM (economic Bubble to burst). I will then buy an apartment in Lima :).
Sergio Bernales
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Re: BOOM

Postby Sergio Bernales » Tue Apr 16, 2013 2:14 pm

The bust might well happen, but I don't expect the boom to finish any time soon unless there's some major disaster abroad. Or maybe come the next election...
Bobby
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Re: BOOM

Postby Bobby » Tue Apr 16, 2013 2:52 pm

Many have beeing speculating a bubble since 2007 and it never came. Reality is that those ho have invested in real estate until 2011 have made excellent deals! Those who prefered being spectators predicting chaotic forecasts lost the opportunity to make good deals.

It' is not because real estate is now expensive in most of Peru (still beneath South American levels) that we are in a bubble. Truth is that many expat still imagine they can buy a house in Miraflores for 40 000 usd!

http://gestion.pe/inmobiliaria/elmer-cuba-precios-viviendas-lima-deberian-crecer-solo-5-este-ano-2063786
augusto ruiz
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Re: BOOM

Postby augusto ruiz » Tue Apr 16, 2013 8:52 pm

The situation in Peru just remaine the situation in Spain 10 or 15 years ago where people started buy houses an apartaments and now they cant keep paying that and most of them start losing their houses and became the new homeless people in Spain.

Well, according to statistics the peruvian economy will keep growing up in the next 15 years about 6% or /% and then if the goverment does not do anything to diversify our economy we could get into a big depression. SO, talkind with a couple of mates (we are in our early 30´s) we say like if we cant buy an apartament in the next 5 years it would be better keep renting and traveling.... cos we do believe apartaments wont stop to be expensives.

saludos,
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chi chi
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Re: BOOM

Postby chi chi » Tue Apr 16, 2013 10:22 pm

augusto ruiz wrote:The situation in Peru just remaine the situation in Spain 10 or 15 years ago where people started buy houses an apartaments and now they cant keep paying that and most of them start losing their houses and became the new homeless people in Spain.


That's the reason why I bought my home and my flat cash. I don't like mortgage because then you have to pay 3 times more for a home.

It's better to work, save and buy the home when you have saved enough money.

I don't care if the price goes down. I't still my place. And if home prices, go down then prices of other things go down as well so I always benefit.

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