Real Estate Investment Alert – June 2025

The Social Housing Law is Enacted

On June 12, 2025, Law No. 32379 was published in the Official Gazette «El Peruano.» This law promulgates the Social Housing Law (VIS). VIS is the type of housing promoted by the State to reduce the qualitative and quantitative deficit. The Ministry of Housing, Construction, and Sanitation (MVCS) is responsible for establishing its characteristics and technical components, as well as the maximum allowable values for housing units.

The new law replicates some of the provisions set forth in Supreme Decree No. 005-2025-VIVIENDA, assigns sanctioning authority to the MVCS, and establishes the conditions for acquiring these units. The law addresses the following aspects:

• It establishes that urban development projects (with or without simultaneous construction) are to be carried out on consolidated urban land, urban land for transformation, urban land in transformation, urban land in consolidation, and immediately developable land, and must also have approved zoning. Verification of this requirement is determined in the urban planning instruments approved by the provincial municipalities.
• It determines the various modalities and promotion of VIS, such as the acquisition, construction, and improvement of housing, as well as leasing, construction of housing modules in rural areas, establishment of real estate rights, and other projects promoted by the MVCS.
• Establishes that, to access the VIS, the interested party must not be the owner or holder of a real right to the surface of a home, land, or independent air for housing, nor be a beneficiary of other state housing support. Likewise, the housing unit cannot be subject to transfer of ownership for a period of five (5) years, which is computed from the date of registration of its acquisition. Furthermore, this condition must be registered in the Land Registry.
• It recognizes that provincial municipalities may establish special urban and building parameters. Areas for the development of VIS projects may be established by Ordinance. The administrative acts issued by the municipalities must establish that the projects correspond to a VIS. Purchase and sale contracts must establish that the projects are designed and executed in accordance with the urban and building conditions of the VIS (Visual Property Rights).
• The MVCS assumes sanctioning authority over license holders regarding the promotion and marketing conditions of the real estate units, and may impose written warnings or fines. This authority will be defined in the regulations of the Law, which must be approved within a maximum period of one hundred and twenty (120) calendar days.

It is important to note that, to date, Ordinances No. 2361-MML and No. 007-2025/MPC, respectively, are in force in both the Province of Lima and Callao. These Ordinances grant significant urban planning benefits regarding maximum building heights and densities for VIS projects in their respective jurisdictions.

For further information, please contact Hugo Silva (hsilva@estudiorodrigo.com), Hugo Sarria (hsarria@estudiorodrigo.com), Rómulo Muñoz (Rmunoz@estudiorodrigo.com), Isabel Carrascal (icarrascal@estudiorodrigo.com) and/or Soleil Castro (scastro@estudiorodrigo.com).