23 Sept 2022

Peru: facilitations for popular building to relaunch real estate

The Peruvian Ministry of Construction reported yesterday that the measures being adopted aim to ensure that, once the quarantine is complete, the real estate sector leads the economic recovery of the country. Deputy Minister David Ramos indicated that some of the main measures that will directly benefit Peruvian households are the increase in the good payer bonus (BBP) and the reduction of the initial rate for Mivivienda loans. Low-income families will be exempt from the savings palfond requirement to access the benefits of the Techo Propio program for both the acquisition of new homes and construction on their own land. To promote the construction of housing of social interest, a legislative decree has been drawn up which facilitates the granting of building permits which will remain in force even after the end of the state of emergency. David Ramos pointed out that home sales are expected to drop by 25%; therefore the measures will help to reactivate trade flows in the sector. The deputy minister urged real estate companies to facilitate access to housing for people whose incomes have temporarily dwindled due to the crisis. A strict protocol will be applied, in accordance with the recommendations of the Ministry of Health, in order to avoid the transmission of COVID-19 in the works, as well as the procedures to be followed to identify and deal with possible cases among workers.
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