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Home purchase prices per square meter in Lima’s top- and middle-class districts continue to rise in 2018

Home prices in Lima’s top- and middle-class districts continue to rise

Prices per square meter up between 2.5% and 4.7% in third quarter of 2018

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Sunflower - Last Update: November 13, 2018

According to the latest report of the Peruvian Central Reserve Bank (BCRP) the purchase price in Peruvian Soles of homes per square meter in Lima’s 5 top districts – La Molina, Miraflores, San Isidro, San Borja and Surco – increased 2.6% in the third quarter of 2018 compared to the same time period in 2017 and even 4.6% in comparison with the second quarter of 2018.

The same applies to home prices in US$. Here the increase in Lima’s top districts was 2.5% in the third quarter of 2018 compared to the same time period in 2017 and 4.3% in comparison with the second quarter of 2018.

lima top districts home purchase prices 2008 2018

A similar situation could be observed in Lima’s middle-class districts – Jesus Maria, Lince, Magdalena, Pueblo Libre and San Miguel. In the third quarter of 2018 the Soles purchase price per square meter increased 4.2% compared to the same time period in 2017 and 4% in comparison with the second quarter of 2018.

Home prices in US$ in Lima’s middle-class districts rose 4% compared to the same time period in 2017 and 3.7% compared to the previous quarter.

lima middle class districts home purchase prices 2008 2018

The BCRP report also shows that on average the purchase price of a home is equivalent to 17.5 years of rent or for investors rental income.

Source: BCRP, Gestion

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