A recently published study compiled by the Peruvian Association of Real Estate Companies (ASEI) and the Peruvian Chamber of Construction (Capeco) in cooperation with Nexo Inmobiliario put a number on the extreme differences in real estate prices in the different districts of Lima.
The lowest average square meter prices in Lima can be found in the districts of Comas (S/ 1,861), Carabayllo (S/ 2,411) and Lurigancho (2,753), followed by Ate (S/ 2,984) and Callao (S/ 3,462).
On the other end, the most expensive districts regarding average square meter prices of real estate are Barranco (S/ 7,705), Miraflores (S/ 7,433) and San Isidro (S/ 7,132), followed by San Borja (S/7,102) and Surco (S/ 6,965).
The districts in Lima with the biggest real estate offer at the moment are Jesus Maria, Chorrilos, La Victoria, Surco and Miraflores, while the most projects under construction are in Miraflores, Jesus Maria, Surco, Pueblo Libre and San Miguel.
According to Rodolfo Bragagnini, president of ASEI, the real estate market in the Peruvian capital suffered heavily over the past few years. While in 2012 44,000 homes were sold in Lima, in 2016 only 21,000 properties, so less than half of this number, got a new owner. He said that the middle class, that sustained the real estate boom until a few years ago, isn’t buying to the former extent anymore today.