Authored by the expert who managed and guided the team behind the Peru Property Pack
Yes, the analysis of Lima's property market is included in our pack
Lima's property market offers attractive opportunities for both investors and residents looking to purchase real estate in Peru's capital city.
As of September 2025, average property prices in Lima range from USD 800 to USD 2,500 per square meter, with premium districts like Miraflores and San Isidro commanding the highest prices while emerging neighborhoods offer excellent value for money.
If you want to go deeper, you can check our pack of documents related to the real estate market in Peru, based on reliable facts and data, not opinions or rumors.
Lima's average property price is approximately USD 1,500 per square meter in 2025, with significant variations across districts and property types.
Premium areas like Miraflores and San Isidro reach USD 2,500 per square meter, while emerging districts start from USD 800 per square meter, offering diverse investment opportunities.
| District | Price per m² (USD) | 2BR Apartment (60m²) | 3BR Apartment (100m²) |
|---|---|---|---|
| Miraflores | 2,000-2,500 | 150,000-180,000 | 250,000+ |
| San Isidro | 2,000-2,500 | 160,000-200,000 | 250,000-300,000 |
| Barranco | 1,800-2,200 | 120,000-160,000 | 200,000+ |
| Jesús María | 1,000-1,300 | 75,000-90,000 | 120,000-140,000 |
| Magdalena | 1,000-1,300 | 80,000-100,000 | 130,000-150,000 |
| Chorrillos | 900-1,200 | 60,000-80,000 | 100,000-140,000 |
| Emerging Areas | 800-1,000 | 50,000-65,000 | 90,000-120,000 |
What's the current average house price in Lima by property type?
The average property price in Lima is approximately USD 1,500 per square meter as of September 2025.
Premium districts like Miraflores and San Isidro command prices up to USD 2,500 per square meter, representing the most expensive residential areas in the city. These areas attract international buyers and offer world-class amenities, modern infrastructure, and strong rental yields.
Mid-range districts including Jesús María, Magdalena, San Miguel, and Lince typically price between USD 1,000-1,300 per square meter. These neighborhoods provide excellent value for buyers seeking quality properties with good access to city centers and growing commercial areas.
Emerging and budget-friendly districts start from USD 800 per square meter, with areas like La Victoria, Chorrillos, and Surquillo offering significant upside potential for investors willing to buy in developing neighborhoods.
Detached houses in luxury areas regularly exceed USD 750,000, with premium properties reaching USD 2.5 million for large plots or unique architectural features.
How do prices differ across the main neighborhoods and districts of Lima?
Lima's property prices vary dramatically across districts, with premium coastal areas commanding the highest premiums.
Miraflores remains the most expensive district, with average prices between USD 2,000-2,500 per square meter. This oceanfront district attracts international buyers due to its modern infrastructure, shopping centers, restaurants, and proximity to beaches. A typical 2-bedroom apartment (60m²) costs USD 150,000-180,000.
San Isidro matches Miraflores pricing at USD 2,000-2,500 per square meter, serving as Lima's financial district with luxury residential towers and excellent security. Properties here range from USD 160,000-200,000 for 2-bedroom units.
Barranco, known for its bohemian atmosphere and artistic community, prices between USD 1,800-2,200 per square meter. This trendy district has seen significant gentrification and appeals to young professionals and tourists.
Mid-range districts like Jesús María, Magdalena, and San Miguel offer excellent value at USD 1,000-1,300 per square meter, providing modern amenities without premium location costs.
What are the typical prices based on property size and surface area?
Property prices in Lima scale predictably with size, though per-square-meter rates vary significantly by location and quality.
| Property Size | Mid-Range District Price (USD) | Premium District Price (USD) | Average Price per m² |
|---|---|---|---|
| 1BR Apartment (45m²) | 50,000-70,000 | 90,000-120,000 | 1,100-2,200 |
| 2BR Apartment (60m²) | 75,000-110,000 | 150,000-180,000 | 1,200-2,500 |
| 3BR Apartment (100m²) | 120,000-150,000 | 250,000-300,000 | 1,200-2,500 |
| Luxury Penthouse (200m²) | 300,000-400,000 | 500,000-750,000 | 1,500-3,000 |
| Detached House (250m²) | 350,000-500,000 | 750,000-2,500,000 | 1,400-3,500 |
What is the total cost of purchasing a property, including fees and taxes?
The total cost of purchasing property in Lima includes several mandatory fees and taxes beyond the purchase price.
The Alcabala transfer tax represents the largest additional cost at 3% of the sale price, though the first 10 UIT (Tax Units) are exempt. For most properties, this translates to approximately 2.5-3% of the purchase price.
Notary fees typically cost 0.5-1% of the property value, while registration fees add another 0.3-0.5%. Legal fees generally range from USD 500-2,000 depending on transaction complexity and property value.
Additional costs include property appraisal (USD 100-500), homeowners association setup fees, and property insurance (USD 200-1,000 annually). Monthly HOA fees range from USD 50-300 depending on building amenities and location.
Total purchase costs typically range from 4.5-6% of the property price, meaning buyers should budget approximately USD 7,000-10,000 in additional fees for a USD 150,000 property purchase.
How much would the monthly mortgage payment be for the average property?
Mortgage payments in Lima have become more affordable in 2025 due to declining interest rates from previous years.
Current mortgage interest rates average 7.4-8.3% for residential properties, with loan terms typically spanning 20-25 years. Banks generally require 20-30% down payments for foreign buyers, though some institutions offer more favorable terms for residents.
For a typical USD 150,000 property with a 20% down payment (USD 30,000), the resulting USD 120,000 loan at 8% interest over 25 years would require monthly payments of approximately USD 925-950. This includes principal and interest but excludes property taxes, insurance, and HOA fees.
Mortgage payments are currently 15-20% lower than 2023 levels due to interest rate reductions, making homeownership significantly more accessible for qualified buyers. A USD 100,000 property would require approximately USD 615-650 monthly for the mortgage component.
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Which areas are considered the most expensive, the most up-and-coming, and the most budget-friendly right now?
Lima's property market clearly segments into three distinct price tiers based on location, infrastructure, and development potential.
Most Expensive Areas:
- Miraflores - Premium oceanfront district with international appeal and luxury amenities
- San Isidro - Financial center with modern high-rises and excellent security
- Barranco - Trendy bohemian district with strong rental yields and tourist appeal
- La Molina - Upscale residential area with modern shopping and dining
- Surco - Family-oriented premium suburb with excellent schools and parks
Up-and-Coming Areas:
- Chorrillos - 17-19% year-over-year price growth with major infrastructure improvements
- La Victoria - Central location benefiting from urban renewal projects
- Surquillo - Growing arts scene and proximity to premium districts
- Lince - Strong development activity and transportation improvements
- Jesús María - Steady appreciation with new commercial developments
Budget-Friendly Areas:
- Comas - Entry-level pricing with basic amenities and transportation access
- Los Olivos - Emerging middle-class district with shopping centers
- Villa El Salvador - Affordable housing with government development support
- San Juan de Lurigancho - Largest district with diverse housing options
- Outer Chorrillos - Industrial areas transitioning to residential use
Can you give example purchase prices for different property types and locations?
Specific purchase examples demonstrate the wide price range across Lima's diverse property market.
| Property Type / Location | Size | Purchase Price (USD) | Price per m² |
|---|---|---|---|
| Luxury Apartment, Miraflores | 75m², 2BR | 160,000-180,000 | 2,100-2,400 |
| Mid-Range Apartment, Jesús María | 60m², 2BR | 90,000-110,000 | 1,500-1,800 |
| Detached House, San Isidro | 200m², 4BR | 400,000-550,000 | 2,000-2,750 |
| Budget Apartment, Chorrillos | 45m², 1BR | 50,000-70,000 | 1,100-1,550 |
| Penthouse, Barranco | 150m², 3BR | 300,000-400,000 | 2,000-2,670 |
| Emerging Area House, La Victoria | 120m², 3BR | 120,000-160,000 | 1,000-1,330 |
| Luxury Villa, Miraflores | 400m², 5BR | 1,200,000-2,500,000 | 3,000-6,250 |
What are the smartest buying options today for living in, renting out short-term, renting out long-term, or buying to resell later?
Different investment strategies require targeted property selection based on location, property type, and market dynamics in Lima.
For Living: Mid-sized apartments in mid-range districts like Lince, Magdalena, and San Miguel offer the best balance of value, amenities, and future growth potential. These areas provide good access to city centers while avoiding premium location costs.
Short-term Rental Investment: Central Miraflores and Barranco apartments generate the highest rental yields due to strong tourist demand. Properties near beaches, restaurants, and nightlife command premium rates with occupancy rates exceeding 75% annually.
Long-term Rental Investment: Emerging districts like Chorrillos and Surquillo offer excellent rental yields combined with capital appreciation potential. These areas attract young professionals and families seeking affordable housing near job centers.
Resale Investment: Properties near new infrastructure projects, particularly metro stations, offer the strongest appreciation potential. Metro line expansions typically drive 15-20% premiums for properties within walking distance of stations.
It's something we develop in our Peru property pack.
How have average prices changed compared to one year ago and five years ago?
Lima's property market has experienced significant appreciation over both short and long-term periods.
Over the past year (2024-2025), Lima property prices increased approximately 10% on average, with some emerging districts experiencing much higher growth. Chorrillos, Lince, Surquillo, and La Victoria saw price increases ranging from 9.5% to 19% due to infrastructure improvements and urban development projects.
The five-year trend shows even more substantial growth, with average annual increases of 5% since 2020. Premium districts like Miraflores and San Isidro have experienced cumulative price growth of 25-30% over this period, while emerging areas have seen even higher appreciation rates.
Properties have more than doubled in value since 2015 in many areas, particularly those benefiting from metro line construction and commercial development. The market has shown remarkable resilience despite economic challenges, supported by steady urban migration and a growing middle class.
Foreign investment has contributed to price stability, with international buyers particularly active in premium coastal districts and areas offering short-term rental opportunities.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Peru versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What's the forecast for prices in the next one year, five years, and ten years?
Lima's property market outlook remains positive across all time horizons, supported by urban growth and infrastructure development.
2026 Forecast: Property prices are expected to rise 3-7% annually, with continued strong performance in emerging districts. Political stability following elections and infrastructure project completions should support sustained growth.
Five-Year Outlook (2025-2030): Steady appreciation is likely to continue, with metro expansion and infrastructure improvements driving significant premiums near new stations. Areas within walking distance of metro stations could see cumulative premiums of 20-30% by 2030, while the overall market should maintain 4-5% annual growth assuming macroeconomic stability.
Ten-Year Projection: Continued urban migration and rising middle class income will sustain long-term demand. Modern and eco-friendly properties are expected to command increasing premiums as environmental consciousness grows among buyers and renters.
Infrastructure projects including new metro lines, airport improvements, and coastal development will create additional value appreciation opportunities. However, political stability and economic policy consistency remain key factors for sustained growth.
How does Lima's average house price compare with other similar large cities?
Lima offers competitive property pricing compared to other major Latin American capitals.
| City | Average Price per m² (USD) | Market Position | Investment Appeal |
|---|---|---|---|
| Lima | 1,500 (up to 2,500 premium) | Mid-range LATAM pricing | Strong growth potential |
| Santiago, Chile | 2,000-3,000 | Significantly higher | Mature market |
| Bogotá, Colombia | 1,200-1,800 | Similar/slightly lower | Emerging opportunities |
| Buenos Aires, Argentina | 1,200-2,200 | Similar range | Currency volatility risk |
| Mexico City, Mexico | 1,800-2,800 | Higher pricing | Established market |
| São Paulo, Brazil | 2,200-3,500 | Premium pricing | Luxury market focus |
Lima positions itself as an attractive middle-ground option, offering lower entry costs than Santiago or São Paulo while providing better infrastructure and stability than some emerging markets.
Given the current market, what are the best overall strategies for buyers?
Successful property investment in Lima requires strategic location selection and timing considerations.
Infrastructure-Focused Strategy: Prioritize districts with new infrastructure developments, particularly metro lines and commercial centers. These areas offer the strongest upside potential as transportation improvements typically drive 15-20% premiums over time.
Value-Oriented Approach: Choose mid-range districts for the best long-term value and rental yields. Areas like Jesús María, Magdalena, and San Miguel provide excellent appreciation potential without premium location costs.
Stability-Seeking Investment: Luxury and prime zones like Miraflores and San Isidro offer stability, international appeal, and serve as the safest store of value during economic uncertainty.
Rental Income Focus: Short-term rental units in tourist-friendly districts can yield 5-7% annually, while long-term rentals in emerging areas provide steady income with appreciation potential.
Early Mover Advantage: Target up-and-coming districts like Chorrillos, Surquillo, and sections of Jesús María before major development projects are completed.
It's something we develop in our Peru property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Lima's property market represents one of Latin America's most dynamic real estate opportunities in 2025.
With average prices of USD 1,500 per square meter and strong infrastructure development, the city offers excellent value compared to regional peers while maintaining significant growth potential for both residents and investors.
It's something we develop in our Peru property pack.
Sources
- Lima Price Forecasts - The LatinVestor
- Lima Peru Homes Sale - New York Times
- Lima Property Taxes and Fees - The LatinVestor
- Peru Mortgage Interest Rate - The Global Economy
- Lima Property Market - The LatinVestor
- Peru Price History - Global Property Guide
- Peru Residential Property Prices - Trading Economics
- Peru Taxes and Costs - Global Property Guide