House prices in the country will grow by 9.3% by the end of the year, predicts Peruvian Building Chamber (Capeco) in a recent report.
Capeco chief executive Guido Valdivia clarified that this price increase is due to rising material costs.
According to the Economic Report on Construction (IEC), prices for Construction Materials they rose by 9.1% between November 2021 and April 2022, and prices are expected to increase by 3.7% in the coming months.
“As a result of this, home values will increase by 9.3% in the annual period from November 2021 to October 2022,” Valdivia explained.
guild construction He added that the increase in prices will be felt more in the segment known as Modern Lima, which includes the areas of Jesus Maria, Pueblo Libre, San Miguel, Magdalena, Surquillo and Lince. This growth will occur because supply is growing less than sales.
“There is an oversupply in Lima Top, where 90% of apartments are not social, so the inclusion of new projects in this urban sector will slow down. In contrast, in contemporary Lima, supply is growing less than sales, which could push prices up.
The situation is different in Lima Top, where there may be some price reduction for property.
“There may be a reduction in (prices) per square meter at Lima Top to help reduce inventory,” he said.
Capeco added that building materials prices in metropolitan Lima have risen by 26.8% over the past two years.
Source: RPP
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