Real estate in Peru

Peru is attracting increasing interest from real estate investors due to several factors that make the country attractive for such investments. The economy has grown steadily in recent years and has created a favorable environment for the real estate market.
One of the most important factors in Peru's attractiveness to investors is the burgeoning tourism industry. The increasing flow of tourists is creating demand for various types of real estate such as hotel complexes, apartments and commercial properties. Investors see this as the prospect of high returns.
The government's policies are also contributing to Peru's attractiveness for real estate investments. The ongoing reforms and support from the government are creating a favorable environment for companies and investments. These include the simplification of real estate registration procedures, legal protection for investors and incentives for construction activity.
Overall, the prospects for real estate investment in Peru are promising thanks to a growing economy, a developed tourism industry and supportive government policies.

Lima - As the capital and largest city, Lima is an important center for business, culture and government. Various neighborhoods such as Miraflores, San Isidro and Barranco are known for their attractiveness to real estate investors due to their amenities, safety and proximity to the sea.

Arequipa, the second largest city in Peru, is known for its historic architecture and rich culture. Areas such as Yanahuara and Caima are very popular with real estate investors.

Cusco - This city, which has been declared a UNESCO World Heritage Site, is a major tourist destination, especially due to its proximity to the famous Machu Picchu. The city's historical charm and tourist appeal create a favorable environment for real estate investment.

Trujillo - Trujillo in northern Peru is famous for its archaeological sites and colonial architecture. The city's developing economy is reflected in the real estate market, making it an attractive investment destination.

Yes, foreign nationals have the right to buy real estate in Peru. However, there are some special features and restrictions.

Firstly, foreigners can generally buy land, apartments, houses, offices and other real estate. No special permits or visas are required.

Secondly, there are restrictions on the purchase of real estate in the border areas of the country. In particular, foreigners cannot purchase land and buildings within a 50-kilometer zone along the border. The purchase of real estate near military bases and strategic sites is also prohibited.

Thirdly, the purchase of a property worth 50,000 dollars or more entitles a foreigner to apply for a residence permit in Peru. This considerably simplifies the immigration process.

Subject to certain rules, foreigners can therefore invest freely in Peruvian property. This makes the country an attractive destination for the purchase of housing, commercial property and land.

Real estate search:

• Online search: Explore various platforms and websites to find a property that meets your requirements.
• Real estate agent: Consider hiring a real estate agent to professionally assist you in finding a property and negotiating a contract.
• Peru trip: You can also travel to Peru on your own to view the available properties in person and check if they meet your requirements.

Legal checks:

• Proof of ownership: make sure the title of the property you choose is clean.
• Debt and lien verification: Conduct a thorough legal check to make sure there are no outstanding debts or liens on the property.

Offer:

• Approval: If the checks are satisfactory, you can offer your terms for the deal.
• Contract: If the offer is accepted, a contract is drawn up and signed setting out the terms of the deal.

Notary:

• Submission of the contract: The contract is then submitted to a notary who checks the legality and accuracy of the documents.
• Review of the documents: The notary reviews the documents related to the transaction and ensures that they comply with legal requirements.

Registration:

• Completion of the transaction: after successful verification by the notary, the property is registered in your name in the state register, completing the purchase process.

This detailed process provides legal transparency and ensures that your real estate purchase in Peru meets all legal requirements.

The involvement of a local lawyer can play a key role in dealing with the legal requirements and ensuring a successful transaction.
One important document he can assist with is the Contract of Sale (Contrato de Compraventa), a legally binding contract between buyer and seller that sets out the terms and conditions of the sale.
A Peruvian lawyer can also assist with the title search (Búsqueda de Titulos de Propiedad) to confirm the ownership status of the property and identify any potential legal issues or encumbrances.
He can also assist you in obtaining the necessary authorizations, such as the approval of the local public registry or the relevant authorities.
The lawyer will also ensure that all applicable taxes and fees, such as land transfer tax and notary fees, are duly paid in accordance with the applicable Peruvian laws and regulations.