Peru, Colombia, Ecuador have lowest cost housing in Latin America

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The growth of the real estate sector in Peru was the main reason for creation of Properati, an online platform of Argentine origin, to increase its presence in the domestic market.

Andrés Vega, Properati manager for the Andean region, indicated that Peru, Colombia and Ecuador have the lowest cost housing in the Latin American region.

According to the analysis made by Properati in which it compares the average per square meter of premiere properties in the most important middle class areas of Latin America, the capital of Peru has the third lowest price.

"In the case of Lima, it has a price per square meter of US$1,640, which is higher than the US$1,330 seen in Quito (Ecuador) and US$1,410 in Bogota," he said.

He added that in Buenos Aires (Argentina) the price per square meter is higher with US$2,872, followed by Mexico City bordering US$1,846 and Sao Paulo (Brazil) with US$2,234.

The executive said that the housing boom in Peru has exploded in recent months.

He added that according to figures from the Central Reserve Bank (BCR), the mortgage loan for the real estate sector would have grown around 10% in the current year.

"This scenario is not unique to the national market, but also in other countries in the region where real estate projects register this trend," he added.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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