Does anyone have experience buying real estate in Peru? In Cusco? Good? Bad?
Real Estate
Considering buying a house οr аn apartment іn downtown Cusco, Peru, both fοr mу υѕе аnԁ fοr renting cheaply tο tourists ion a weekly basis. Wаѕ hoping tο ԁο a bit οf renovations first, whісh I hаνе experience already. Dοеѕ anyone hаνе experience buying іn Peru, living іn Cusco, οr doing business іn Peru? Iѕ іt safe enough? Stable enough? Anу opinions?
The real state in Peru is a good business. I’m disagree with previous comments. Turism is a good oppornutity to develop in Cuzco, you can buy and rent the appartment in agreement with some peruvian company or travel agency.
To have a peruvian partner is the best way to minimize the risks.
Alain.
I wouldnt recommend you to do that, sometimes if you rent ppl apartments and stuff like dat they might end up just leavin n not payin u, police wont do nothin or any kind of authority there is alot of corruption down there so yeah there you go. I lived there for 11 years of my life , one of the reasons i came to the U.S was because of the economy status not alot of work so yeah ppl r not gonnna be able to afford rentin apartments.
I reluctantly second Jacky’s comment. Too many problems. Law too uncertain. Unless you speak fluent Spanish and are going to live on the property so that you can collect the rent in advance and boot any troublemakers out, you’re probably asking for problems in my opinion. However, if you do this,you need a Peruvian partner who can do all the above and help you with the inevitable problems.