PERU, property values in Peru

Growth in Peru’s real estate market has remained steady over the past five years, despite the global economic downturn, said José Antonio Olaechea, managing partner of Estudio Olaechea, a law firm in Lima. He said that although high demand and a low housing supply were pushing prices up, stagnant wages were preventing out-of-control growth. “We are not yet in a bubble,” he said, adding that government programs to promote homeownership have help bolster the market. Read Article