“Growing Demand for Small Apartments and Common Areas: Latest Trends in Lima’s Real Estate Market”

2023-05-10 01:00:45

A fact that has been highlighted in the study, says Díaz, is that in this entire sector, the demand for smaller products has grown. Thus, the appetite for apartments smaller than 60 m2 grew in 2022 and showed an increase of 130% compared to 2021, while the demand for apartments between 60 m2 and 100 m2 did so by 30%.

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On this, Miguel Deustua, managing director of Tribeca Inmobiliaria, affirms that this search for less footage is due to the purchasing power of people because the price of the apartments has increased due to the rise in the cost of materials, as well as due to the considerable increase in the interest rate.

“A mortgage credit rate today is around 10% and a MiVivienda rate around 8.6%. For this reason, small areas adapt to demand, to people’s ability to pay”dice.

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Common areas

Regarding the common areas, in the top three preferences are the terrace for outdoor meetings and/or barbecue, visitor parking and the gym; However, the novelty of the study is that ‘coworking’ appears in the top 10, a common environment that has been validated for a year and a half, says Díaz.

“People continue to prefer functionality over space and meeting areas with family and friends are expanding as the universe of buyers is migrating to smaller spaces. They accept this reduction, but they want the project to have these common areas”add.

Bryan Meza, general manager of Danfra Inmobiliaria, notes that the trend registered during the pandemic in which buyers valued a study within the department has stagnated given the return to normality and/or hybrid work.

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Interior space and environment

Regarding the surrounding areas preferred by buyers, the survey highlights that people seeking to live in Lima Top seek to locate in front of a park, on streets with little traffic and close to their workplace. According to Meza, if the client must choose whether to live in front of a park or near his work area, he will choose the latter.

“The first thing that one filters is the price and then the location of the space together with what the project offers”add.

On the other hand, Deustua assures that balconies have become highly valued both with exterior and interior views, since it generates the feeling of being away from home.

Likewise, it stands out that the demand for duplexes has increased as a solution to a high segment that wants to live in a larger space.

In figures

Miraflores grows in demand

According to Díaz, when verifying the apartment sales data, Miraflores is one of the districts that has grown the most with 47% in 2022 compared to 2021.

Likewise, Lima Top grew 40% with 1,308 more units sold in 2022 compared to 2021.

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