Peruvian property market to grow in 2017

Peru's property market is set to grow in 2017, according to developers.

The outlook is relatively optimistic, as the economy continues a fragile recovery. Indeed, Century 21 has just opened an office in Lima, although growth in agents is mostly perceived in the office market, according to Enrique Zevallos of the Association of Real-Estate Developers of Peru.

Speaking to OPP.Today, he says demand is driven by investors from Chile and Colombia, as well as the USA, with possible legislative changes in the wake of the coming election potentially opening up the market in the future.

"Housing seems to be stagnant unless renting and leasing regulations are approved. But 2016 is an election year so we believe real growth will start in 2017," he adds.