Actualidad Peru

Access to housing for low income people

Legislative Decree 1177

This decree establishes a special voluntary scheme for the development and renting of housing, with rules ensuring legal certainty for the parties involved. It aims to encourage investment in real estate and to reduce the shortfall in the supply of rental properties in Peru, while also improving the quality of the housing.

The decree creates mechanisms to facilitate access to housing for people in the low to middle income bracket, through (i) rental, (ii) rental-purchase, and (iii) leasing of buildings intended for housing. It will thus be essential for financial institutions to adapt their lending strategy to these mechanisms, in order to boost the real estate market and the Peruvian economy.