Home » Peru » Peru – Buying Property

Peru – Buying Property

Legal Restrictions on Property Ownership and Sale in Peru

Peru generally welcomes foreign nationals to own property within its borders, and there are no specific legal restrictions preventing property ownership by foreigners. However, there are some exceptions and regulations to be aware of:

  • Protected Areas: Foreigners are prohibited from owning property in certain areas near Peru’s borders, known as “restricted zones.” These zones typically extend 50 kilometers from the border. However, you can obtain a special permit or work through a Peruvian corporation to own property in these areas.
  • Coastal Areas: While foreigners can own property on the coast, there are additional restrictions within 50 meters of the shoreline, with some exceptions.

It’s essential to consult with a local attorney or the Superintendencia Nacional de los Registros Públicos (SUNARP), the National Superintendence of Public Registries in Peru, to fully understand the legal requirements for property ownership as a foreign national.

Average Property Prices in Peru and Regional Variations

Property prices in Peru vary significantly based on the region and type of property. As of the latest data available:

  • Lima: Lima, the capital city, tends to have higher property prices. The average price per square meter for apartments in desirable districts can range from $1,500 to $3,000 or more.
  • Provincial Cities: In provincial cities like Arequipa, Trujillo, and Cusco, property prices are generally lower than in Lima, with apartments averaging $1,000 to $2,000 per square meter.
  • Rural Areas: Rural areas and smaller towns offer more affordable housing options, with the cost per square meter often below $1,000.

Property prices can vary based on factors such as location, property size, condition, and market demand.

Popular Locations to Buy Property in Peru

Several locations in Peru are popular among property buyers:

  • Lima: Lima offers a wide range of property options, including modern apartments in Miraflores and San Isidro, as well as traditional homes in Barranco.
  • Arequipa: Arequipa, known for its historical architecture and pleasant climate, attracts both local and international buyers.
  • Cusco: Cusco, near the famous Machu Picchu, is a sought-after destination for those looking for unique properties in a historical setting.

These locations cater to various lifestyles and preferences.


Get Our Best Articles Every Month!

Get our free moving abroad email course AND our top stories in your inbox every month


Unsubscribe any time. We respect your privacy - read our privacy policy.


New Upcoming Areas in Peru

Emerging areas in Peru are becoming attractive options for property buyers:

  • Barranca: Located north of Lima, Barranca is gaining attention for its beautiful beaches and potential for real estate development.
  • Chachapoyas: In the Amazonas region, Chachapoyas is becoming a destination for eco-tourism and is drawing interest from property investors.
  • Puerto Maldonado: Located in the Amazon rainforest, Puerto Maldonado offers opportunities for eco-friendly and sustainable property investments.

These emerging areas provide investment potential and unique experiences.

Trends in the Property Market in Peru

Several trends shape Peru’s property market:

  • Sustainable Properties: There is a growing demand for eco-friendly and sustainable properties, especially in ecotourism destinations like the Amazon rainforest.
  • Co-Living Spaces: Lima is witnessing the development of co-living spaces, catering to young professionals and students looking for shared accommodations.
  • Historical Restoration: Some buyers are interested in restoring and preserving historical properties, contributing to cultural heritage conservation.

These trends reflect changing preferences and investment opportunities in the Peruvian property market.

Is Buying Property a Good Investment in Peru?

Buying property in Peru can be a sound investment, particularly in growing urban areas and tourist destinations. Peru’s stable economy and tourism industry, coupled with a rising middle class, contribute to the property market’s potential. However, as with any investment, it’s essential to conduct thorough research, consider market conditions, and seek professional advice before making a decision.

Common Property Types in Peru and Buying Procedure

Common property types in Peru include:

  • Apartments: Apartments are popular in urban areas and offer various sizes and amenities.
  • Townhouses and Detached Houses: Houses come in various styles, from modern to colonial, and are suitable for families or individuals.
  • Land Only: Some buyers purchase land for development or investment purposes.

The typical house buying procedure in Peru involves the following steps:

  1. Property Search: Find a property that meets your requirements.
  2. Offer: Make an offer to the seller, often through a real estate agent.
  3. Inspection: Conduct property inspections, including structural and legal checks.
  4. Notary Services: Engage a notary public to draft the sales contract.
  5. Exchange of Contracts: Sign the sales contract and pay a deposit.
  6. Public Registry: The property’s title is updated at the public registry.
  7. Final Payment: Pay the remaining purchase price.
  8. Transfer of Ownership: Transfer the property’s ownership at the public registry.

Working with experienced real estate professionals and legal advisors is crucial throughout the process.

Finding a Reputable Lawyer in Peru

When purchasing property in Peru, hiring a reliable lawyer is highly recommended. You can find reputable lawyers through local law firms or legal associations. One such organization is:

National Bar Association of Peru (Colegio de Abogados del Perú)

Website: National Bar Association of Peru

Membership in professional organizations like the National Bar Association of Peru is an indicator of a lawyer’s credibility. Legal fees may vary, so it’s essential to discuss costs and services upfront with your chosen attorney.

Pitfalls and Problems in the House Buying Process

Expats and foreign buyers in Peru may encounter several challenges:

  • Language Barrier: Some legal documents and processes may be in Spanish, so having a translator or bilingual attorney can be essential.
  • Title Issues: Ensuring a clear title is crucial to avoid future disputes over property ownership.
  • Legal Complexity: Peru’s property laws and processes may differ from those in your home country, requiring a good understanding of local regulations.

Working with professionals who have experience in international real estate transactions can help mitigate these challenges.

Purchasing Property through a Company in Peru

Yes, you can purchase property in Peru through a company. This option may have specific tax and legal implications, so it’s advisable to consult with legal and financial experts to understand the process fully. Creating a Peruvian corporation is a common approach for foreign investors looking to buy property in restricted zones near the borders.

Property laws and regulations in Peru can change, so staying informed and seeking professional advice are essential steps in the property buying process.


Latest Videos

In this short video, we dive into the significant health care updates and changes happening globally in 2024. From Germany's insurance cost adjustments to Cyprus's renewed COVID-19 precautions, we cover the essential news you need to know.  Germany's Health Insurance Update:  Starting in 2024, residents in Germany will see a slight increase in their health insurance costs, with a 0.1% rise to a maximum of 1.7%. This adjustment aims to expand coverage for medical care not currently included in statutory health insurance, such as select dental treatments, IVF, and early cancer screenings.  COVID-19 Measures Reintroduced in Cyprus:  With over 3000 new COVID-19 cases, Cyprus is stepping up its game by reintroducing health measures. Requirements now include proof of a negative COVID-19 test for entry into various facilities, emphasizing the importance of vaccination, especially for the elderly, to combat the evolving virus strains.  Free Health Trials in Trieste, Italy:  Trieste launches an initiative for free health screenings, including echocardiograms and blood tests, focusing on preventive care against non-communicable diseases. This move underscores the city's commitment to improving public health through early detection and prevention.  Spain's New Health Advice App:  Madrid introduces a groundbreaking app offering reliable health advice to counteract the widespread misinformation online. This app, part of the 'Madrid Te Cuida' initiative, will guide users to accurate information, from diet tips to medical queries, ensuring the advice is vetted by health professionals.  Expat Satisfaction with Healthcare in Mexico:  A study reveals that expat retirees in Mexico are largely content with the healthcare quality and costs, with many citing significant savings compared to the United States without compromising on care quality. This insight sheds light on the growing trend of healthcare tourism and relocation for medical reasons.  Stay tuned as we unpack these updates, providing you with the insights and implications of these healthcare changes. Whether it's the impact on your wallet or the quality of care you can expect, we've got you covered in this comprehensive overview of health care in 2024. Don't forget to like, share, and subscribe for more health news around the globe!

In this short video, we dive into the significant health care updates and changes happening globally in 2024. From Germany's insurance cost adjustments to Cyprus's renewed COVID-19 precautions, we cover the essential news you need to know.

Germany's Health Insurance Update:

Starting in 2024, residents in Germany will see a slight increase in their health insurance costs, with a 0.1% rise to a maximum of 1.7%. This adjustment aims to expand coverage for medical care not currently included in statutory health insurance, such as select dental treatments, IVF, and early cancer screenings.

COVID-19 Measures Reintroduced in Cyprus:

With over 3000 new COVID-19 cases, Cyprus is stepping up its game by reintroducing health measures. Requirements now include proof of a negative COVID-19 test for entry into various facilities, emphasizing the importance of vaccination, especially for the elderly, to combat the evolving virus strains.

Free Health Trials in Trieste, Italy:

Trieste launches an initiative for free health screenings, including echocardiograms and blood tests, focusing on preventive care against non-communicable diseases. This move underscores the city's commitment to improving public health through early detection and prevention.

Spain's New Health Advice App:

Madrid introduces a groundbreaking app offering reliable health advice to counteract the widespread misinformation online. This app, part of the 'Madrid Te Cuida' initiative, will guide users to accurate information, from diet tips to medical queries, ensuring the advice is vetted by health professionals.

Expat Satisfaction with Healthcare in Mexico:

A study reveals that expat retirees in Mexico are largely content with the healthcare quality and costs, with many citing significant savings compared to the United States without compromising on care quality. This insight sheds light on the growing trend of healthcare tourism and relocation for medical reasons.

Stay tuned as we unpack these updates, providing you with the insights and implications of these healthcare changes. Whether it's the impact on your wallet or the quality of care you can expect, we've got you covered in this comprehensive overview of health care in 2024. Don't forget to like, share, and subscribe for more health news around the globe!

YouTube Video UCB21b-C4O2aXm7H18_GsXMQ_nC_Fs6gU22U

Expat Focus International Healthcare Update January 2024

Expat Focus 31 January 2024 10:36 am

This error message is only visible to WordPress admins

Important: No API Key Entered.

Many features are not available without adding an API Key. Please go to the YouTube Feed settings page to add an API key after following these instructions.