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Expat Exchange - How to Buy a Home in Peru
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How to Buy a Home in Peru

By Betsy Burlingame

SJB Global
SJB Global

Summary: Seasoned expatriates recommend a cautious approach to newcomers eager to settle down—avoid the rush to purchase property upon arrival. Instead, consider the benefits of renting in Peru during your initial months. This strategy allows you the flexibility to explore various neighborhoods and truly decide if the local lifestyle aligns with your long-term expectations. Once you've acclimated and are certain that Peru is your future home, here are tips on how to buy a home in Peru.

Peru is a beautiful country with a rich history, diverse culture, and stunning landscapes. It's no wonder that many expats are drawn to this South American gem. If you're considering making Peru your new home, buying a property can be a great investment. However, the process can be complex, especially for foreigners. This guide will provide you with the essential information you need to navigate the Peruvian real estate market.

How Do I Find Houses for Sale in Peru?

There are several ways to find houses for sale in Peru. Online property portals are a popular choice, with websites like Adondevivir, Urbania, and Laencontre offering a wide range of listings. Local newspapers also have real estate sections. However, the most reliable way to find properties is through a real estate agent or broker. They have access to listings that may not be publicly advertised and can guide you through the buying process.

Are There Restrictions on Foreigners Owning Property in Peru?

Foreigners have the right to own property in Peru, with no restrictions on the type or amount of property they can buy. However, there are some exceptions. For instance, foreigners cannot own property within 50 kilometers of the country's borders unless they obtain special permission from the government. It's also worth noting that while foreigners can own property, they cannot own the land on which it sits unless they are residents or have established a Peruvian company.

Does Peru Have an MLS Type System?

Peru does not have a Multiple Listing Service (MLS) like in the United States. This means that real estate agents do not share information about properties for sale. Each agent or agency has its own listings, so it's a good idea to work with several agents to get access to a wider range of properties.

Do Brokers Have Licenses and How Do I Know if They Are Licensed?

Yes, real estate brokers in Peru must be licensed. The Ministry of Housing, Construction, and Sanitation oversees the licensing process. To verify a broker's license, you can check the Public Registry of Real Estate Agents on the Ministry's website. It's important to work with a licensed broker to ensure that all transactions are legal and above board.

What Documents Are Required When Buying a Home?

When buying a home in Peru, you'll need several documents. These include your passport or DNI (National Identity Document), a copy of the property's title deed, a certificate of property registration, and a municipal certificate showing that the property is free of debts. You'll also need a tax assessment of the property's value and a notarized purchase agreement.

Do I Need a Lawyer When Buying a Home in Peru?

Yes, it's highly recommended to hire a lawyer when buying a home in Peru. A lawyer can help you navigate the complex legal process, ensure all documents are in order, and protect your interests. The cost of a lawyer can vary, but it's typically around 1% to 3% of the property's purchase price.

Do People Typically Buy a Property with All Cash or Take Out a Mortgage?

Both options are common in Peru. Some people choose to buy property outright with cash, while others prefer to take out a mortgage. Mortgages in Peru typically have a term of 10 to 20 years, with interest rates varying depending on the bank and the buyer's credit history.

Are There Inspections That Take Place, and If So What Is That Process Like?

Yes, property inspections are a standard part of the buying process in Peru. A professional inspector will examine the property for any structural issues, damages, or potential problems. The buyer is typically responsible for arranging and paying for the inspection. The process can take a few hours to a few days, depending on the size and condition of the property.

What Are Some of the Pitfalls to Avoid When Buying Property in Peru?

One common pitfall is not thoroughly researching the property. Make sure the property is free of debts and legal issues before making a purchase. It's also important to verify the property's boundaries and ensure that all necessary utilities are connected. Another pitfall is not considering the location carefully. Consider factors like access to amenities, safety, and potential for growth. Finally, avoid rushing the process. Take your time to find the right property and negotiate the best deal.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.


SJB Global
SJB Global

SJB Global
SJB Global

SJB Global
SJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

SJB GlobalSJB Global

SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
Learn More

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