Residential Real Estate - Peru | Statista Market Forecast

The Residential Real Estate market market in Peru is expected to reach a projected value of US$1.00tn by 2024.
It is anticipated to demonstrate an annual growth rate of 3.24% (CAGR 2024-2029), leading to a market volume of US$1.17tn by 2029.
In comparison to other countries worldwide, China is projected to generate the highest value in the Real Estate market, with US$112.9tn expected in 2024.
The residential real estate market in Peru is experiencing a surge in demand for luxury beachfront properties.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is 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 for real estate renters as well.

Residential real estate transactions
Residential real estate leases

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 Residential 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 contributed to this positive trajectory. Customer preferences in the Residential Real Estate market in Peru have been shaped by several factors. Firstly, there is a growing demand for modern and well-designed properties that offer a range of amenities and facilities. Buyers are increasingly seeking properties that provide convenience and comfort, such as gated communities with recreational areas and 24-hour security. Additionally, there is a preference for properties located in desirable neighborhoods with good access to schools, shopping centers, and transportation networks. Finally, there is a strong demand for properties that offer value for money, with buyers seeking affordable options without compromising on quality. Several trends have emerged in the Residential Real Estate market in Peru. One notable trend is the increasing popularity of vertical living, with the construction of high-rise apartment buildings becoming more prevalent. This trend is driven by factors such as urbanization, limited land availability, and the desire for modern living spaces. Another trend is the rise of sustainable and energy-efficient properties, as buyers become more environmentally conscious. Developers are incorporating green building practices and technologies into their projects to meet this demand. Furthermore, there is a growing trend towards mixed-use developments, where residential properties are combined with commercial and retail spaces. This trend reflects the desire for convenience and the need for a work-life balance. Local special circumstances have also influenced the development of the Residential Real Estate market in Peru. One such circumstance is the government's efforts to promote affordable housing. The government has implemented various programs and incentives to encourage the construction of affordable housing units, particularly for low-income families. This has resulted in an increase in affordable housing options and has helped to address the housing shortage in the country. Additionally, Peru's strong economic growth and stability have attracted foreign investors to the real estate market, further driving development and investment in the sector. Underlying macroeconomic factors have played a significant role in the growth of the Residential Real Estate market in Peru. The country's stable economy, low inflation, and favorable interest rates have created a conducive environment for investment in real estate. Additionally, Peru's growing middle class and increasing urbanization have contributed to the demand for residential properties. The country's strong economic fundamentals and positive outlook have instilled confidence in both domestic and international investors, leading to increased investment in the real estate sector. In conclusion, the Residential Real Estate market in Peru is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for well-designed and affordable properties, the emergence of vertical living and sustainable developments, government initiatives to promote affordable housing, and Peru's stable economy and favorable investment climate have all contributed to the positive trajectory of the market.

Data coverage:

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

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:

Data is modeled using current exchange rates. 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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Residential Real Estate - Peru

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Real Estate Type

Living Space

Methodology

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