Abstract
This is the first edition in BMI’s new series of reports on real estate
sectors around the world. We have
sought to incorporate data and insights
from our reports on infrastructure and commercial banking – as
well
as our own forecasts for the economies of the various countries that we
survey.
Key issues – Peru
We suggest that the following are the
key issues to monitor for the real estate sector in the coming year or
so:
• An anticipated significant growth in the availability of
finance in Peru, albeit from very low
levels of bank finance.
•
An anticipated significant growth in construction activity, again from a low
level of activity.
• Any clear sign in improvement in bureaucracy and
the legal system.
These conclusions are based on our proprietary Real
Estate/Construction Business Environment Rating
(RECBER), the component
factors of which we discuss in detail. The conclusions are also set
against
recent conditions in the commercial office market – for
which we have used office rents in major cities as
a proxy and in the
residential real estate market – for which we have used housing prices
as a proxy.
A major trend throughout all our real estate reports is that
mainly due to the global financial crisis, access
to funding will be more
important than usual. Accordingly, we have incorporated overviews of
conditions
in the commercial banking sector, both globally and in the
region of each country. We have also looked at
the issues that will drive
the fortunes of Real Estate Investment Trusts (REITs) over the coming
months.
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