The real estate market in Metropolitan Lima and Callao is undergoing a significant transformation, with a decisive shift toward pre-sales. In the first quarter of 2026, more than 80% of homes sold were purchased either off-plan or while still under construction.
Surge in Market Activity and Consumer Trust
Between January and March, approximately 8,000 units were sold, marking a 25% increase compared to the same period last year. According to data from the Confederación de Desarrolladores Inmobiliarios del Perú (Codip), the market is seeing strong dynamism.
A detailed breakdown shows that 47% of purchases were for projects already under construction, while 34% were off-plan sales. Only 19% of buyers opted for homes with immediate delivery.
Ana Cecilia Gálvez, general manager of Codip, attributes this trend to consumer confidence. “Buying off-plan means that the buyer trusts that the developer will comply and deliver the product in the promised years. And buying under construction means that the first stone has already been laid, but both denote the consumer’s confidence index,” Gálvez explained.
Economic Drivers and Financing
The preference for pre-sales is too fueled by economic advantages. Buyers can access more competitive pricing and better financing conditions, supported by stable mortgage rates and prices that have remained largely unchanged.
Social Housing as the Primary Market Engine
Social Interest Housing (VIS) remains the structural backbone of the sector. By the conclude of the first quarter, this segment accounted for over 68% of sales and 70% of the total offer.
“Today, social interest housing is almost 70% of what is sold in Metropolitan Lima,” noted Gálvez.
This dominance is reflected in specific geographic hubs. Lima Moderna, Lima Centro, Lima Sur, and Lima Norte have consolidated as the primary axes for the development and placement of these homes.
Geographic Expansion and New Preferences
While Lima Moderna continues to lead market dynamism—with Jesús María and San Miguel as top sales drivers—growth is accelerating in emerging zones. Lima Norte, Lima Sur, and Callao are showing significant advances due to more accessible offers and new urban conditions.
In Lima Centro, the Cercado de Lima stands out, while San Juan de Lurigancho leads performance in Lima Este. Gálvez indicated, “We are seeing that more peripheral districts are becoming quite interesting for real estate development.”
Buyer preferences are also evolving toward smaller, more efficient spaces. Nearly 50% of sales are concentrated in apartments between 40 and 60 square meters. Units with two or three bedrooms represented nearly 78% of total operations, confirming a trend where functionality takes precedence over size.
Future Outlook
Given the current trajectory, the market may continue to decentralize as developers seek opportunities in peripheral districts. If mortgage rates remain stable, the trend toward pre-sales could further solidify, potentially increasing the volume of projects initiated in emerging zones.
Frequently Asked Questions
What percentage of homes in Lima were bought as pre-sales in early 2026?
More than 80% of homes sold in the first quarter of 2026 were acquired either off-plan or under construction.
What is the most demanded size for apartments in the current market?
Nearly 50% of sales are concentrated in apartments ranging from 40 to 60 square meters.
Which housing segment is the main driver of the Lima real estate market?
Social Interest Housing (VIS) is the primary motor, representing over 68% of sales and 70% of the offer.
Do you think smaller, more functional living spaces are the future of urban housing in major cities?
