Evolución de los precios de los Departamentos en Lima Metropolitana en 2001-2017 y su relación con los factores fundamentales de la Economía

Abstract

The purpose of this research is to study the evolution of housing prices in Lima Metropolitana between 2001 and 2017 and to determine if this evolution can be explained by its economic fundamentals (demand, supply, external sector and financial profitability). For this, cointegration analysis will be used, from which it is obtained that the prices of the houses, the monthly income, BVL’s general index and the terms of exchange maintain a long-term relationship, ruling out any process of generalized speculation. Also, the error correction vector shows that house prices will tend to decrease to adjust to the dynamics of their fundamentals. Finally, evaluations are carried out on the dynamics of housing prices and their fundamentals and it is concluded that these can explain a large proportion of the future evolution of housing prices.