Legal evolution of the real estate market in Peru

In the dynamic landscape of the Peruvian real estate market, legality and regulations play a fundamental role in shaping economic activity and real estate development. In recent years, significant changes have occurred in laws and regulations that directly impact property and real estate development in the country.

1. Modernization of the Legal Framework
   Peru has undertaken a continuous effort to modernize its legal framework in the real estate sector. This endeavor aims to streamline processes, provide greater legal security to investors, and foster sustainable sector growth. Modernization includes the simplification of procedures and the digitization of processes, improving efficiency and transparency in real estate transactions.
2. Investor and Consumer Protection
   Recent legal changes have strengthened the protection of both investors and consumers in the real estate market. Stricter regulations have been established to ensure construction quality and transparency in the information provided to buyers. These measures seek to create a reliable and secure environment for all parties involved in real estate transactions.
3. Promotion of Sustainability and Urban Planning
   In response to growing environmental concerns and rapid urban growth, laws and regulations have evolved to promote sustainability and equitable urban planning. Regulations encouraging the development of sustainable real estate projects and aiming to preserve green spaces and common areas have been implemented to ensure harmonious and environmentally respectful development.
4. Adaptation to Global and Technological Trends
   Real estate legislation in Peru has also adapted to global trends and technological advancements. Specific regulations have been established to address the increasing digitization in the sector, ensuring the validity and security of electronic transactions related to real estate.
5. Pending Challenges
   Although legal changes have been positive, there are still pending challenges in the Peruvian real estate market. Process streamlining can still be improved, and the effective implementation of new regulations remains a challenge. Ongoing collaboration between the government, private sector, and civil society will be crucial to overcoming these obstacles and achieving a robust and sustainable real estate market.