Construction latest publications
As with the rest of the economy, the construction sector experienced a significant slowdown at the end of 2018. The two main components, Building and Civil Engineering Works, recorded drops in GDP in the third and fourth quarters.
Sales of new apartments in Lima continued to recover in 2018 in a context of improved formal employment, attractive interest rates, and some government incentives. We estimate that sales improvement will keep consolidating this year. On the prime office market side, the supply of previous years is gradually being digested a…
The GDP of construction closed 2017 with a fall of 1.1% in the annual rate. This is a result of the 10% decline in civil works and the slowdown in building that only improved 0.4%, both in annual terms. However, for the second quarter of 2018, the construction sector has an accumulated advance of 2%.
Exchange rates over the past few years have had a positive impact on the real estate sector, yet recent currency upheaval has given rise to a considerable deterioration in accessibility conditions. Even so, the slowdown should prove to be only fleeting and there is not likely to be any huge increase in the supply of propert…
1Q18 ended with a greater increase in home sales than previous quarters, despite the contraction seen in March. This increase encouraged housing prices to rise, although at slower rates and with heightened regional heterogeneity, according to appraisals. Housing investment, for its part, rose sharply in 1Q18.
After three months of stability, home sales grew in January. The positive economic situation, coupled with good news from the mortgage market, continues to bolster residential demand. The biggest highlight in construction for January was an increase in the sale of land and a moderation in the growth of visas.
House sales remained virtually stable for the second month in a row. This is accompanied by an increase in housing prices and a slight correction in the signing of building permits in 4Q17. The first data for 2018 are positive for the sector: new mortgage credit grew, and financial costs remain minimal.
Following a slump in October, home sales plateaued in November. Information from subsequent months, however, points to reinvigorated sales, with mortgages up in December and both employment and consumer confidence showing improvements at the outset of 2018. Visas, meanwhile, were down in November.