As of June 2026, a normal apartment in Arequipa costs about S/450,000 to S/520,000, which is roughly USD 130,000 to USD 150,000 or EUR 113,000 to EUR 131,000, but the real number changes a lot by district, building age, elevator, parking and whether the apartment is new or resale.
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Arequipa is not a single property market, because Cayma and Yanahuara can feel like a different city compared with Paucarpata, Hunter or Alto Selva Alegre.
This guide focuses only on residential apartments in Arequipa, so you can understand what a foreign buyer would really need to pay before starting visits.
And if you’re planning to buy a property in this place, you may want to download our pack covering the real estate market in Arequipa.
Insights
- The average apartment asking price in Arequipa in 2026 is around S/515,000, but a realistic negotiated price is often closer to S/450,000 to S/490,000.
- Cayma and Yanahuara are still the safest premium apartment markets in Arequipa, but buyers usually pay S/1,000 to S/1,700 more per m² than in budget districts.
- A S/500,000 resale apartment in Arequipa can need about S/25,000 to S/32,000 in buyer costs before furniture, repairs or moving costs.
- Studios are not the main product in Arequipa, so many “small apartment” searches actually lead to compact one-bedroom units of 40 to 55 m².
- Cerro Colorado is one of the most interesting areas in Arequipa in 2026, but only the better-connected pockets near services and main roads are easy to resell.
- New-build apartments in Arequipa usually cost 10% to 20% more than resale apartments, mostly because buyers pay for elevators, parking, delivery dates and modern layouts.
- Foreign buyers should be careful with mortgage assumptions, because Peruvian banks usually prefer stable local income and may ask for a larger down payment.
- The cheapest apartment price per m² in Arequipa is not always the best deal, because low-liquidity districts can be harder to rent or resell later.
- HOA fees in Arequipa can look small compared with the purchase price, but premium buildings in Cayma or Yanahuara can add S/6,000 or more per year.
How much do apartments really cost in Arequipa in 2026?
What's the average and median apartment price in Arequipa in 2026?
As of June 2026, the average apartment price in Arequipa is about S/515,000, or roughly USD 150,000 and EUR 129,000, while a more realistic median buyer price is closer to S/455,000, or about USD 133,000 and EUR 114,000.
In the same Arequipa apartment market, the average asking price is about S/4,540 per m², or around USD 1,325 and EUR 1,140 per m², which equals roughly S/420, USD 123 and EUR 106 per sq ft.
For most standard apartments in Arequipa in 2026, a practical buyer should expect a range of S/320,000 to S/700,000, or about USD 93,000 to USD 204,000 and EUR 80,000 to EUR 176,000.
How much is a studio apartment in Arequipa in 2026?
As of June 2026, a studio apartment in Arequipa usually costs about S/220,000, or roughly USD 64,000 and EUR 55,000, although true studios are less common than compact one-bedroom apartments.
For a normal studio or very compact unit in Arequipa, expect S/180,000 to S/260,000, or about USD 52,000 to USD 76,000 and EUR 45,000 to EUR 65,000, while a premium small unit in Cayma, Yanahuara or Vallecito can reach S/280,000, or about USD 82,000 and EUR 70,000.
Most studio-style apartments in Arequipa are around 38 to 50 m², so the best comparison is usually a small one-bedroom rather than a classic hotel-style studio.
How much is a one-bedroom apartment in Arequipa in 2026?
As of June 2026, a typical one-bedroom apartment in Arequipa costs about S/360,000 to S/380,000, or roughly USD 105,000 to USD 111,000 and EUR 90,000 to EUR 95,000.
Entry-level and mid-range one-bedroom apartments in Arequipa usually sit between S/280,000 and S/390,000, or about USD 82,000 to USD 114,000 and EUR 70,000 to EUR 98,000, while high-end one-bedroom units in Cayma or Yanahuara can reach S/430,000, or about USD 125,000 and EUR 108,000.
A normal one-bedroom apartment in Arequipa is usually 50 to 70 m², with newer projects often using more efficient layouts than older resale units.
How much is a two-bedroom apartment in Arequipa in 2026?
As of June 2026, a typical two-bedroom apartment in Arequipa costs about S/500,000 to S/535,000, or roughly USD 146,000 to USD 156,000 and EUR 126,000 to EUR 134,000.
Entry-level and mid-range two-bedroom apartments in Arequipa usually cost S/380,000 to S/560,000, or about USD 111,000 to USD 163,000 and EUR 95,000 to EUR 141,000, while high-end two-bedroom apartments can reach S/650,000, or about USD 190,000 and EUR 163,000.
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Arequipa.
How much is a three-bedroom apartment in Arequipa in 2026?
As of June 2026, a typical three-bedroom apartment in Arequipa costs about S/600,000, or roughly USD 175,000 and EUR 151,000.
Entry-level and mid-range three-bedroom apartments in Arequipa usually cost S/500,000 to S/700,000, or about USD 146,000 to USD 204,000 and EUR 126,000 to EUR 176,000, while luxury three-bedroom apartments in Cayma, Yanahuara or Sachaca can go above S/850,000, or about USD 248,000 and EUR 214,000.
A normal three-bedroom apartment in Arequipa is usually 90 to 130 m², with the higher prices usually coming from parking, terrace, elevator, newer finishes or a better micro-location.
What's the price gap between new and resale apartments in Arequipa in 2026?
As of June 2026, new-build apartments in Arequipa usually cost 10% to 20% more than similar resale apartments, and the gap can reach 25% in premium projects with elevators, parking and common areas.
A realistic new-build apartment price in Arequipa is about S/4,800 to S/5,400 per m², or roughly USD 1,400 to USD 1,575 and EUR 1,205 to EUR 1,355 per m².
A realistic resale apartment price in Arequipa is about S/3,900 to S/4,500 per m², or roughly USD 1,140 to USD 1,315 and EUR 980 to EUR 1,130 per m².
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Can I afford to buy in Arequipa in 2026?
What's the typical total budget (all-in) to buy an apartment in Arequipa in 2026?
As of June 2026, a standard apartment purchase in Arequipa usually needs an all-in budget of about S/525,000 to S/550,000, or roughly USD 153,000 to USD 160,000 and EUR 132,000 to EUR 138,000, if the apartment price is close to S/500,000.
This all-in budget in Arequipa usually includes the apartment price, alcabala if it is a resale, notary work, SUNARP registration, legal checks, bank appraisal costs and small transaction expenses.
We go deeper and try to understand what costs can be avoided or minimized and how in our Arequipa property pack.
What down payment is typical to buy in Arequipa in 2026?
As of June 2026, a typical down payment for an apartment in Arequipa is 20% to 30%, so a S/500,000 apartment usually needs S/100,000 to S/150,000, or about USD 29,000 to USD 44,000 and EUR 25,000 to EUR 38,000.
Most Peruvian banks usually want at least 10% to 20% down for strong local borrowers, but a foreign buyer without stable Peruvian income should not build a plan around the lowest possible deposit.
For better mortgage terms in Arequipa, a safer target is 30% down, or about S/150,000, USD 44,000 and EUR 38,000 on a S/500,000 apartment.
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Which neighborhoods are cheapest or priciest in Arequipa in 2026?
How much does the price per m² for apartments vary by neighborhood in Arequipa in 2026?
As of June 2026, apartment prices in Arequipa range from about S/2,700 to S/5,600 per m², or roughly USD 790 to USD 1,635 and EUR 680 to EUR 1,405 per m², depending on district and building quality.
The most affordable apartment districts in Arequipa are usually Socabaya, Hunter, Paucarpata and Alto Selva Alegre, where practical resale prices often sit near S/2,700 to S/3,900 per m², or about USD 790 to USD 1,140 and EUR 680 to EUR 980 per m².
The most expensive apartment districts in Arequipa are usually Cayma, Yanahuara, Sachaca and Vallecito, where good apartments often sit near S/4,500 to S/5,600 per m², or about USD 1,315 to USD 1,635 and EUR 1,130 to EUR 1,405 per m².
What neighborhoods are best for first-time buyers on a budget in Arequipa in 2026?
As of June 2026, the three best budget-friendly apartment areas in Arequipa are José Luis Bustamante y Rivero, Miraflores and selected parts of Cerro Colorado.
In those budget-friendly Arequipa neighborhoods, a realistic apartment budget is about S/320,000 to S/520,000, or roughly USD 93,000 to USD 152,000 and EUR 80,000 to EUR 131,000.
José Luis Bustamante y Rivero, Miraflores and better pockets of Cerro Colorado work well because buyers get daily shops, transport access, schools, services and more formal apartment supply than in thinner markets.
The trade-off is that a cheaper apartment in Arequipa can mean an older building, weaker finishes, less parking, no elevator or a micro-location that takes longer to resell.
Which neighborhoods have the fastest-rising apartment prices in Arequipa in 2026?
As of June 2026, the fastest-rising apartment areas in Arequipa are likely Cerro Colorado, Sachaca and José Luis Bustamante y Rivero, with Cayma still strong but already more expensive.
In those fast-improving Arequipa neighborhoods, a reasonable year-over-year apartment price increase estimate is about 5% to 9%, with better new-build pockets sometimes above that range.
The main driver is simple: buyers want modern apartments, parking, better layouts and safer residential streets, but prime Cayma and Yanahuara prices already feel expensive for many local households.
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What extra costs will I pay on top of the apartment price in Arequipa in 2026?
What are all the buyer closing costs when you buy an apartment in Arequipa?
For a typical S/500,000 resale apartment in Arequipa, buyer closing costs are usually about S/25,000 to S/32,000, or roughly USD 7,300 to USD 9,300 and EUR 6,300 to EUR 8,000.
The main buyer costs in Arequipa are alcabala, notary fees, SUNARP registration, legal due diligence, bank appraisal fees and mortgage setup costs if the purchase is financed.
The largest closing cost is usually alcabala, because a resale buyer pays 3% after deducting 10 UIT from the taxable base.
Some Arequipa closing costs can vary, especially notary fees, legal fees, bank charges and negotiation around who pays smaller transaction expenses.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Arequipa?
For most resale apartments in Arequipa, buyers should budget about 5% to 6% of the purchase price for closing costs when a mortgage is involved.
A realistic low-to-high range is 4% to 6.5% for resale apartments in Arequipa, while new first-sale apartments can be closer to 2% to 4% if alcabala is partly or fully avoided.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Arequipa.
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What are the ongoing monthly and yearly costs of an apartment in Arequipa in 2026?
What are typical HOA fees in Arequipa right now?
HOA fees, often called mantenimiento, are common in Arequipa apartment buildings, and a normal owner usually pays about S/180 to S/350 per month, or roughly USD 52 to USD 102 and EUR 45 to EUR 88.
The realistic HOA range in Arequipa runs from about S/80 per month in basic older buildings to S/900 per month in premium Cayma or Yanahuara buildings, or roughly USD 23 to USD 263 and EUR 20 to EUR 226.
What utilities should I budget monthly in Arequipa right now?
A typical apartment in Arequipa should budget about S/250 to S/490 per month for utilities, or roughly USD 73 to USD 143 and EUR 63 to EUR 123.
A smaller one-bedroom apartment with careful usage may be near S/200 per month, or about USD 58 and EUR 50, while a larger household can reach S/600 per month, or about USD 175 and EUR 151.
The usual utility budget in Arequipa includes electricity, water and sewer, gas or cooking fuel, internet and sometimes basic building-related shared costs not included in the HOA.
Electricity is often the largest utility for an apartment owner in Arequipa, especially when the household uses electric hot water, many appliances or works from home.
How much is property tax on apartments in Arequipa?
A normal apartment owner in Arequipa usually pays about S/400 to S/2,000 per year in predial property tax, or roughly USD 117 to USD 583 and EUR 100 to EUR 503.
Peru calculates predial with progressive brackets of 0.2%, 0.6% and 1.0%, but the tax is based on municipal assessed value, not always the market price paid by the buyer.
For most Arequipa apartments, the realistic annual predial range is about S/300 to S/3,000, or roughly USD 87 to USD 875 and EUR 75 to EUR 754, depending on district, size and assessed value.
What's the yearly building maintenance cost in Arequipa?
A typical yearly building maintenance cost for an apartment owner in Arequipa is about S/2,200 to S/4,500, or roughly USD 640 to USD 1,310 and EUR 550 to EUR 1,130.
The realistic yearly range is about S/1,000 for a basic older apartment to S/9,000 for a premium building, or roughly USD 290 to USD 2,625 and EUR 250 to EUR 2,260.
Building maintenance in Arequipa usually covers cleaning, common electricity, water for shared areas, security, elevator servicing, small repairs, administration and sometimes garden care.
In Arequipa, normal building maintenance is usually paid through the monthly HOA fee, but special repairs or building upgrades can require extra owner payments.
How much does home insurance cost in Arequipa?
A typical annual home insurance cost for an apartment in Arequipa is about S/600 to S/1,500, or roughly USD 175 to USD 437 and EUR 151 to EUR 377, when the owner wants structure and contents coverage.
A basic contents-only policy can be closer to S/250 to S/600 per year, or about USD 73 to USD 175 and EUR 63 to EUR 151, while broader mortgage-linked cover can cost more.
Home insurance is optional for a cash buyer in Arequipa, but property insurance and life or desgravamen insurance are normally required when the apartment is financed by a bank.
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What sources have we used to write this blog article?
Whether it’s in our blog articles or the market analyses included in our property pack about Arequipa, we always rely on the strongest methodology we can, and we don’t throw out numbers at random.
We also aim to be fully transparent, so below we’ve listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why this source matters | How we used the source |
|---|---|---|
| Properati Arequipa apartment listings | Properati gives current apartment asking prices by city and bedroom count. | We used it for the main Arequipa apartment price anchor. We adjusted the asking prices down to reflect likely negotiation. |
| Doomos Arequipa market report | Doomos gives a live market snapshot with active listings and price per m². | We used it to cross-check the Arequipa price per m² level. We gave less weight to broad averages when apartment-specific data was stronger. |
| Adondevivir Arequipa apartments | Adondevivir is one of Peru’s main real-estate portals. | We used it to verify live stock, new-project entry prices and unit sizes. We treated it as validation, not as a single-source average. |
| Adondevivir new-build apartments in Arequipa | This page helps compare new apartments with resale apartments. | We used it to estimate the new-build premium in Arequipa. We compared new listings with broader portal averages. |
| Adondevivir Cayma apartments | Cayma is a key premium apartment district in Arequipa. | We used it to test whether Cayma pricing sits above the city average. We also checked premium small-unit and new-project prices. |
| Ubicasa Arequipa apartment listings | Ubicasa adds another local listing base for Arequipa apartments. | We used it to cross-check listing depth and visible price bands. We did not use single listings as market averages. |
| BCRP apartment sale and rent price indicator | Peru’s central bank is the strongest official source for apartment indicators. | We used it as the official benchmark for how Peru tracks apartment prices. We did not treat it as detailed Arequipa neighborhood data. |
| BCRP banking interest-rate series | BCRP republishes important banking-rate series for Peru. | We used it to frame mortgage affordability in soles. We cross-checked it with SBS mortgage information. |
| SBS mortgage statistics | SBS is Peru’s banking regulator. | We used it for mortgage-credit context in Peru. We then applied conservative assumptions for foreign buyers. |
| SBS mortgage guidance | SBS explains mortgage insurance and borrower obligations in Peru. | We used it for insurance and financing context. We used bank terms only as market checks, not as law. |
| MEF 2026 UIT decree | MEF sets the official UIT used in Peruvian taxes. | We used the 2026 UIT of S/5,500 for tax calculations. We converted 10 UIT, 15 UIT and 60 UIT into soles. |
| SAT alcabala guide | SAT explains the practical transfer-tax formula. | We used it for the buyer-paid alcabala calculation. We adjusted the deduction using the 2026 UIT. |
| Ley de Tributación Municipal | This is the legal base for municipal property tax in Peru. | We used it for the predial brackets of 0.2%, 0.6% and 1.0%. We applied those brackets to typical apartment values. |
| SUNARP 2026 registry fees | SUNARP is Peru’s official property registry. | We used it for 2026 registration-cost assumptions. We treated notary fees separately because notary fees are market-priced. |
| SEDAPAR and SUNASS tariff structure | SEDAPAR is Arequipa’s water utility and SUNASS regulates water tariffs. | We used it for water and sewer budgeting in Arequipa. We cross-checked it with SUNASS tariff rebalance material. |
| OSINERGMIN electricity tariff page | OSINERGMIN regulates electricity tariffs in Peru. | We used it to frame electricity costs in Arequipa. We then applied normal apartment consumption assumptions. |
| SEAL 2026 electricity tariff sheet | SEAL is the electricity distributor for Arequipa. | We used it to check local 2026 electricity tariffs. We did not turn tariff tables into false exact household bills. |
| SMV exchange-rate data | SMV publishes official market exchange-rate information for Peru. | We used it to approximate June 2026 USD conversions. We rounded conversions so the article stays easy to read. |
| EUR to PEN 2026 exchange-rate history | This gives a practical 2026 euro-to-sol conversion reference. | We used it to approximate EUR conversions. We rounded euro amounts because exchange rates move daily. |
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