Peru’s President Ollanta Humala enacted the legislative decree that establishes the home leasing promotion scheme, which is aimed at dynamizing the Real Estate market, so middle-class and low-income families are allowed to make their dream of "owning a home" come true.
“We are working, so everyone will have a home that is accessible to every pocket,” he underlined in the ceremony, which took place at the Lima’s Government Palace Golden Hall.
It saw the participation of Prime Minister, Pedro Cateriano; Housing Minister, Milton von Hesse; and Finance and Economy Minister, Alonso Segura.
According to the Head of State the enacted rule, comprised in the set of legislative measures granted by Congress to the Executive, seeks to dynamize the Real Estate market through new property acquisition or rent because Peru had registered a low rental level in the region to date.
He went on to add the initiative will favor: Property developers, which will be allowed to build more departments; banks, which will grant more credits; and families, whose down payment problems will be solved.
With this regard, what was known as the down payment will be paid each month included in the rental price.
Once this first fee has been totally settled –without any delays- beneficiaries will have access to a mortgage credit or the MiVivienda Fund and to approach the Good Payer Bonus.
"This is a good measure. Therefore, I believe Peru wins. We are working, so the large majority is allowed to have access to an own home," he pointed out.
In his speech, the President reminded during his 4 years in office 140,000 social homes were built. The goal is to conclude the Presidential term (July 2016) with 200,000; and surpass (by double) the objective met during the previous administration.
The President went on to add the Property-Rental market, currently being formalized, will become “Sales-Tax free.” This way, this will become an incentive for property-renting families to undertake efforts with the aim of acquiring those.
Thus, he requested developers, banks and pension fund administrators to join this legal framework to enter the market.
(END) EGZ/VVS/MVB
Published: 7/18/2015