Saturday, 4 February 2012

Housing Prices are on the Rise in Peru

If you're looking to rent or own a place in Peru you're in for a shock as prices are going through the roof. You'd think they'd learn from other people's mistakes: mainly the US. However, they haven't. Things are going well now for people as mortgages are easier to get and owners are charging high rents.

One tip to remember is that speaking Spanish will help you greatly. You'll be treated differently than if you speak English all the time, it'll help you assimilate to Peru, and it'll get you cheaper prices.  If you're looking to learn Spanish, check out Fluenz Spanish, Rosetta Stone, and Synergy Spanish.

The bubble's going to burst though. Maybe not right away, but give it a couple years and it will. My advice: pay off your mortgage. Save the rent you're getting from your tenants if you're renting your place out. Things will get tough in a couple years and this is partly due to the fact that more and more places are being listed in dollars rather than soles.



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