My wife, a Peruvian, and I are considering purchasing a home. We are considering Lima area, anything on the coast from Pimental to south of Lima, and Arequipa. In the Lima area prices seem higher than what we would be willing to spend for the kind of home we want. We would prefer the Lima area as most of her family lives in Miraflores and Pueblo Libre. She does have family in Pimental also. I read an article that said housing in the Lima area is way over-priced and the professionals of the growing middle class here cannot afford housing. This article also predicts a huge drop in housing prices within the next 10 years, like Spain experienced. We do to want to wait 10 years, 2 years maybe. I am just looking for comments/predictions on housing on the preceding and also on the idea of buying some land south of Lima (Pachacamac, Punta Hermosa, San Bartolo for example) and contracting labor to construct a home, preferably on high ground in case of tsunami.
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