Mr. Becerra estimated average prices in the city’s Lima Top sector, which includes La Molina, Miraflores, San Isidro, San Borja, Surco and Barranco, at about $2,288 a square meter ($215 a square foot). In new developments across the city, prices rose 7 percent year over year, a reflection of perennial demand for housing, Mr. Becerra said. Demand remains strong at the middle and lower end of the market, said Jose Luis Alzamora, CEO of TALE Inmobiliaria, a Lima property developer. A report from AESI, the real estate association, estimated that average prices across metropolitan Lima rose 14.7 percent from February 2021 to February 2022. According to data from the Central Reserve Bank of Peru shared by Mr. Becerra, prices per square meter are expected to increase 6 percent by the end of 2022.

Source: International New York Times April 20, 2022 22:03 UTC