Research and Markets announced today their Peru Real Estate Report for Q3 of 2011. According to the news, Business Monitor Internationale's Peru Real Estate Report is a key forecasting tool for industry professionals worldwide. The Peru Real Estate intelligence, reveals that market as one of the most favorable anywhere in the world.
According to the report, Peru sits beside, Hong Kong, Singapore, and Brazil where superb real estate opportunity exists this year. Real GDP growth is one of the definitive factors used in determining potential, and Peru grew at a rate of almost 9% in 2010. Domestic consumption there, combined with exports and overall confidence, have resulted in what amounts to a "mini-bull" market there. While high prices do detract from the outlook, all other indicators show a very positive outlook for Peru through 2012. A Cushman & Wakefield (see also rates graphic below) research paper also supports the Research and Markets data here (PDF).
Of particular interest, the office property market seems to be on the rise after dismal performance in the midst of the recession. Class A space is on the rise to meet the growing demand there now. As raw materials and high value products gain a foothold, the domestic industry will grow accordingly. Industrial production in Peru, will certainly drive the housing market into an incline, but no numbers or projection have been released as of this report. Manufacturing output is estimated to be at or around 10 percent so far this year, which would correspond to a 9 or 10 percent growth for domestic real estate.
Consumer spending, the fuel of any economic surge, is on the upswing throughout South America, and in Peru in particular. Number 1 in Latin America where improved business regulation, according to a report by the International Finance Corporation and the World Bank, Peru surged forward 10 spots on the list of world economies.
The list of companies mentioned in this detailed report include; Abengoa , Cemento Andino SA, Cementos Lima, Cementos Pacasmayo, Centros Comerciales del Peru (CCPSA), Cosapi (factory image above), Graa y Montero (GyM), Los Portales SA, and Inversiones Centenario, among others.
Finally, China investment and other dealings with Peru would seem to have had a significant impact on that economy too. Currently China has moved into second place behind the US in trade with Peru. For Latin America, the emerging economies of Peru and her neighbors are certainly a long awaited event.
For more information on this news, the reader is encouraged to read the original Businesswire press release here, or visit the Research and Markets site here.