Real Estate - Peru | Statista Market Forecast

The Real Estate market market in Peru is expected to have a value of US$1.25tn in 2024.
The residential segment holds the largest share in the market, with a projected volume of US$1.00tn in 2024.
This segment is anticipated to grow at an annual rate of 2.67% (CAGR 2024-2029), resulting in a market volume of US$1.43tn by 2029.
In comparison to other countries, United States is projected to generate the highest value in the Real Estate market market, reaching US$132.0tn in 2024.
Peru's real estate market is experiencing a surge in demand for luxury beachfront properties due to its stunning coastline and growing tourism industry.

Definition:

The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.

Structure:

The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and real estate renters as well.

Residential real estate (houses and apartments)
Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Real Estate market in Peru has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all played a role in shaping this growth. Customer preferences in the Real Estate market in Peru have been shifting towards modern and well-designed properties. Buyers and investors are increasingly looking for properties that offer amenities such as gyms, swimming pools, and green spaces. This shift in preferences can be attributed to the rising income levels and changing lifestyles of Peruvian consumers. Additionally, there is a growing demand for properties in prime locations, such as urban centers and tourist destinations, as these areas offer convenient access to amenities and services. Trends in the Real Estate market in Peru indicate a strong focus on residential development. The construction of new housing units, both in the affordable and luxury segments, has been on the rise. This trend can be attributed to the increasing urbanization rate in Peru, as more people are moving to cities in search of better job opportunities and improved living standards. Additionally, the government has implemented policies to promote affordable housing, which has further fueled the demand for residential properties. Local special circumstances, such as the growth of the tourism industry, have also contributed to the development of the Real Estate market in Peru. The country's rich cultural heritage and natural attractions have made it an attractive destination for both domestic and international tourists. This has led to an increased demand for vacation homes and rental properties in popular tourist destinations. Additionally, the government has implemented measures to attract foreign investment in the Real Estate sector, further driving the growth of the market. Underlying macroeconomic factors have also played a significant role in the development of the Real Estate market in Peru. The country has experienced stable economic growth in recent years, which has resulted in higher disposable incomes and increased consumer spending. This has created a favorable environment for real estate investment and development. Additionally, low interest rates have made it easier for individuals and businesses to access financing for real estate projects. In conclusion, the Real Estate market in Peru has been experiencing growth and development due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The focus on modern and well-designed properties, the construction of new housing units, the growth of the tourism industry, and stable economic conditions have all contributed to the positive trajectory of the market.

Data coverage:

Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Real Estate - Peru

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