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Peru is still a developing country containing a large discrepancy between wealthy and poor. Peru’s economy is based on services, manufacturing and extractive industries respectively. Recent economic growth has been fueled by macroeconomic stability, improved terms of trade and rising investment and consumption. Peru exports many natural resources and raw materials to theworld’s top consumers including the US, Brazil and China.

Peru is one of the property markets that has not felt the brunt of the global economic downturn. Leasing and sales have slowed, but they have not seen the abrupt stop that other global markets have seen. As the vacancy rate remained at close to an all time low over 2008 it is expected that latent demand will continue into 2009 causing this to still be an owner oriented market. Once that demand is satisfied we may see a readjustment in the market as there is not a large amount of supply on the, nor any new demand expected.

For further information on the Peruvian property market please contact our global headquarters.

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