As demand increased housing prices in Lima and Callao will continue to rise in 2010

Private Investors | Darcy Govea | November 26, 2009 at 2:10 pm

The Institute of Construction and Development (ICD), basic body Peruvian Chamber of Construction (Capeco), noted that prices of homes in Lima and Callao have increased in recent years and will continue this trend during 2010 due to increased demand.

"We see with pleasure that in general housing prices are revalued by improvements made in all districts of the capital and Callao," said technical director of the ICD, José Luis Ayllón.

Study presented Capeco XIV Urban Market Buildings in Lima and Callao - 2009, which document is a working tool and necessary and after consultation, including economic feasibility studies and financial required throughout the project.

He explained that among the most expensive districts highlights San Isidro, which in 2008 square meter was quoted at $ 1,204.6 and August 2009 increased to $ 1.330.

I still Miraflores, in 2008 the house price was 991.3 U.S. dollars per square meter and in August this year rose to $ 1.166, also Barranco has risen from 1004.7 to 1.078 dollars per square meter.

In San Borja, the square meter increased from 818 to 1.059 dollars in Jesus Maria was increased from 720.4 to 786 dollars per square meter, in Lince went from 617-814 dollars, and in Magdalena de 646.5 to $ 745 per square meter.

Homes in Pueblo Libre were not far behind and revalued to 659.7 dollars per square meter to 758, San Miguel, from 529.6 to 652 dollars; Chorrillos of 448-580 dollars, and Brena, from 492.1 to 596 dollars.

The increase in the valuation of homes in Magdalena and San Miguel is mainly due to the implementation of major works such as the continuation of the waterfront avenue, he said.

He indicated that the new building activity in Metropolitan Lima and Callao in terms of square feet built between July 2008 and July 2009 recorded a total of four million 259.853.

This represents an increase in building activity of 666.543 meters square rather than those built in 2008, equivalent to a growth of 18.55 percent.

He said that the new supply of buildings had a significant growth of about 38.14 percent, while the buildings sold decreased by 3.18 percent.

As for non-marketable buildings (for own use or rent) increased by 16.78 percent, in the latter heading are commercial centers.

According to destinations, housing is the type of construction for greater participation in the new activity started with 74.66 percent.

In order of importance, the buildings are classified under the category "other" represented in works such as hotels, schools, religious, sports, entertainment (cinemas and restaurants), and so on.