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Property prices in Peru

Hello everyone,

Finding affordable housing in Peru is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in Peru?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

If you want to live in the greater Lima area, expect to pay $600 @ month for a nice 1 bedroom apartment with - SECURITY!  Expats are a target of crime in Peru; you need to feel safe in your own home.

I live 1 1/2 hours away from Miraflores; but my rent is $150 @ month with good security.  I can take the train & bus to MF very cheaply; I am retired so the time involved is not an issue.  I prefer living outside the "tourist areas"; as this is where you can experience the "real" Peruvian life.  It may not be for everyone; but for me it is rewarding & I don't spend so much of my SS check on housing. 

I could afford to live in the fancy areas; but choose not to.  I work using the internet; which you can access in 97% of Peru.

As far as purchasing a property - BE VERY CAREFUL!  I know many owners who have seen property values decrease by 20% in the last 2 years; there is definitely a "bubble" which may burst at any time.  Also, there has been a lot of over-building which has to be absorbed by the population; some owners are reluctant to cut prices, but they will be forced to in a supply/demand real estate market. 

Personally I would take a "wait & see" response to purchasing; unless the opportunity was too good to pass-up.  In this situation, you need professional/unbiased help to make an informed decision.  Don't trust a realator or friend to advise you; you could be making a VERY EXPENSIVE mistake!   As in any major purchase; do your due dilligence!

Best wishes to all; Peru is a wonderfully beautiful country!

Philip C. Brown
Retired US expat

+1
what areas you recommendation to live in with a rental budget 250$/month max
a safe and secure area in Lima


Thank you

$250 @ month will not buy much in the way of an apartment in the greater Lima area.
I get by on $150 @ month; but my apartment is small - but I don't need much as I travel so much.
I would look at areas where you can hop on the train & get to the areas of Lima that are most desirable for your work or socialization.

For me personally, this is going SOUTH to areas of Villa Maria de Triunfo (train station Parque Industrial) & Villa el Salvador (train station the same).  It will atke 1 1/2 hours to Miraflores; but you will save a bunch of money on housing.

Hope this helps.
Philip Brown

Thank you ,
I am looking for Studio actually a room bathroom and a small kitchen
Its only gonna be me so i dont need much space

is the train tickets by month or day and how much would they cost normally ?

Property;
We looked at all of Peru from the very top almost ( Puria ) to Cusico on the bottom. we looked for many things; here is the list:
1. price
2, bedrooms
3. bathrooms
4. power usage
5. hot water
6. crime
7. population
8 people
9 hospital?
10 over all costs

the top quickly got ruled out if you wanted to have a business due to mafia or gang activity or just to much crime. I should say we both work, I am a network engineer/hardware engineer and my wife is an OB.

tho there are nice areas up there we just decided it was just to much to cope with. we did spend several weeks looking there.

the we moved down to the lima area where we spent several months living an working. crime is terrible an the gang activity as well as drugs way out number any benefit.
moving south we looked at the following areas; Arequipa moquaia, puno.
We have either friends or relatives in these areas. all three were reasonable. and last we looked at cusco.
cusco is rather expensive as well as a tourist trap costs are rather high. so we decided to spen our money where it would go the farest.

puno. tho nice and not to big. the weather is rather cold. that was a big detirement even tho we have relatives in the city.

moquawa and Arequipa were rather equal and it was a hard decision to choose between them.  However in the end our choice was Arequipa.
houses/ flats: we looked for 3 bedroom or bigger as we have 2 children (both girls). at least 2 bathrooms not more the 5 years old. and in a good subburb. we looked hard at both flats as well as homes. in the end we choose a nice de-tached town home 3 bedroom 3 baths 1 car garage with a big storage room next to the garage as well as a 1/2 bath next to garage.

cost the cost of the building was 65,000 usd!!!! we were surprised as well as very happy to getthis buy,


Paul

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