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
If you're wondering how much it costs to buy a home in Lima in 2026, you're in the right place.
We've gathered the latest data from Peru's central bank and official sources to give you a clear picture of the current housing market.
This article is updated regularly so you always have access to fresh and reliable numbers.
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 Lima.
Insights
- Lima apartment prices rose about 4% in nominal terms over the past year, but only around 2.5% when you account for inflation, meaning real gains have been modest.
- The typical discount between listing price and final sale price in Lima is around 6%, though prime Miraflores and San Isidro properties often sell within 0 to 4% of asking.
- Barranco now rivals San Isidro as Lima's priciest district, with both averaging above $2,100 per square meter due to limited supply and lifestyle appeal.
- New construction in Lima commands roughly a 14% premium over comparable older apartments, driven by modern amenities and lower maintenance expectations.
- San Miguel offers the lowest entry point among Lima's reference districts, with prices starting around $1,380 per square meter for older apartments.
- Over the past decade, Lima housing prices climbed about 35% in soles, but only around 5% in real terms after adjusting for Peru's moderate inflation.
- Apartments dominate Lima's formal housing market, making up roughly 72% of available listings, while standalone houses represent just 10%.
- A realistic all-in budget for a $150,000 resale apartment in Lima reaches about $180,000 once you add taxes, fees, and light renovation costs.
What is the average housing price in Lima in 2026?
The median housing price is more useful than the average in Lima because the market is skewed by expensive districts like San Isidro and Miraflores, which pull the average higher than what a typical buyer actually pays.
We are writing this as of the first half of 2026 using the latest data from Peru's Central Reserve Bank (BCRP) and official sources, which we manually verified for accuracy.
The median apartment price in Lima in 2026 is approximately S/ 511,000 ($152,000 or €130,000), while the average apartment price sits higher at around S/ 605,000 ($180,000 or €154,000). This gap reflects how luxury properties in premium districts push the average above what most buyers encounter.
For 80% of the Lima residential market in 2026, you can expect prices to fall between S/ 240,000 and S/ 968,000 ($71,500 to $288,000 or €61,000 to €247,000).
A realistic entry range in Lima starts at S/ 250,000 to S/ 350,000 ($74,000 to $104,000 or €63,000 to €89,000), which typically gets you an older 1 to 2 bedroom apartment of 50 to 60 square meters in districts like San Miguel or Pueblo Libre.
Luxury properties in Lima in 2026 generally range from S/ 2.7 million to S/ 8.4 million ($800,000 to $2,500,000 or €686,000 to €2.14 million), and at this level you can find penthouses or large 3 to 4 bedroom units of 220 to 350 square meters in San Isidro's El Golf area or oceanfront Miraflores.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Lima.
Are Lima property listing prices close to the actual sale price in 2026?
In Lima's residential market, listing prices typically run about 6% higher than final sale prices, meaning buyers can usually negotiate a discount from the advertised amount.
This gap exists because Peruvian real estate listings are asking prices, not binding offers, and negotiation is a standard part of the buying process. The discount tends to shrink (often 0 to 4%) for prime units in Miraflores or San Isidro with unique features, while mid-market apartments with plenty of comparable listings often see discounts of 5 to 9%.
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What is the price per sq m or per sq ft for properties in Lima in 2026?
As of early 2026, the median price per square meter in Lima is S/ 6,384 ($1,900 or €1,629), which works out to S/ 593 per square foot ($177 or €151). The average runs slightly higher at S/ 6,720 per square meter ($2,000 or €1,714) or S/ 624 per square foot ($186 or €159), reflecting the pull from premium districts.
Small, well-located apartments like studios or one-bedroom units in Miraflores or San Isidro command the highest price per square meter in Lima because buyers pay a premium for location, walkability, and security rather than space, while large older units in less central areas have the lowest price per square meter due to renovation needs and weaker accessibility.
The highest prices per square meter in Lima in 2026 are found in Barranco, San Isidro, and Miraflores, ranging from S/ 7,060 to S/ 8,740 per square meter ($2,100 to $2,600). The lowest prices within the main reference districts are in La Molina and San Miguel, where you can find apartments for S/ 4,570 to S/ 5,580 per square meter ($1,360 to $1,660).
How have property prices evolved in Lima?
Compared to January 2025, Lima apartment prices have risen about 4% in nominal terms and roughly 2.5% in real terms after adjusting for Peru's low inflation. This modest growth reflects improved mortgage conditions and continued demand for well-located apartments, even as overall supply remains uneven across districts.
Looking back ten years to 2016, Lima housing prices have increased approximately 35% in soles, but only around 5% in real terms once you account for cumulative inflation. The decade included significant volatility from commodity downturns and the pandemic, which kept real price gains flat for several years before the recent recovery.
By the way, we've written a blog article detailing the latest updates on property price variations in Lima.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Lima.
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 types of properties are available in Lima and how do their prices compare in 2026?
Lima's formal housing market is dominated by apartments in mid to high-rise buildings at around 72% of listings, followed by houses at about 10%, condo-style apartments with amenities at 10%, townhouses at 4%, penthouses and duplexes at 3%, and villas at just 1%, reflecting the city's dense urban development and strong investor preference for apartment living.
In Lima as of the first half of 2026, studios typically cost around S/ 240,000 ($71,000 or €61,000), one-bedroom apartments average S/ 320,000 ($95,000 or €81,000), two-bedroom apartments run about S/ 520,000 ($155,000 or €133,000), and three-bedroom apartments reach S/ 780,000 ($232,000 or €199,000). Houses in non-prime areas average around S/ 1.45 million ($431,000 or €370,000), while penthouses and duplexes in prime locations can reach S/ 2.35 million ($699,000 or €599,000).
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Lima?
- How much should you pay for an apartment in Lima?
- How much should you pay for a studio in Lima?
How do property prices compare between existing and new homes in Lima in 2026?
New construction in Lima typically costs about 14% more per square meter than comparable older apartments, making it a meaningful premium for buyers to consider.
This price gap exists because newer buildings offer better amenities like modern elevators, security systems, and common areas, plus they require less immediate maintenance, which reduces the risk buyers factor into their offers.
Buying real estate in Lima can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Lima in 2026?
Miraflores is Lima's most popular expat district, offering walkable streets, oceanfront views, restaurants, and strong security. A modern 120-square-meter apartment here typically costs around S/ 907,000 ($270,000 or €231,000), with prices driven by the neighborhood's lifestyle appeal and limited prime inventory.
San Isidro is Lima's business and upscale residential hub, home to the prestigious El Golf area and top schools. Expect to pay around S/ 1.22 million ($363,000 or €311,000) for a quality 150-square-meter unit, reflecting the district's status as the city's most exclusive address.
Barranco attracts buyers seeking a boutique, artistic atmosphere with selective ocean views. Apartments of around 100 square meters average S/ 803,000 ($239,000 or €205,000), with prices supported by very limited supply in the most desirable micro-locations.
You will find a much more detailed analysis by areas in our property pack about Lima. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Profile | Price Range (80 m²) | Per m² | Per ft² |
|---|---|---|---|---|
| Barranco | Lifestyle / popular | S/ 684k - 837k / $204k - 249k | S/ 7,176 - 8,771 / $2,136 - 2,610 | S/ 667 - 815 / $198 - 243 |
| San Isidro | Premium / business | S/ 655k - 801k / $195k - 239k | S/ 6,872 - 8,402 / $2,045 - 2,499 | S/ 638 - 781 / $190 - 232 |
| Miraflores | Expat / popular | S/ 648k - 792k / $193k - 236k | S/ 6,804 - 8,316 / $2,025 - 2,475 | S/ 632 - 772 / $188 - 230 |
| San Borja | Family / balanced | S/ 565k - 691k / $168k - 206k | S/ 5,934 - 7,250 / $1,766 - 2,158 | S/ 551 - 674 / $164 - 200 |
| Jesús María | Commute / value | S/ 472k - 577k / $140k - 172k | S/ 5,894 - 7,204 / $1,754 - 2,144 | S/ 548 - 669 / $163 - 199 |
| Lince | Commute / compact | S/ 448k - 548k / $133k - 163k | S/ 5,594 - 6,830 / $1,665 - 2,035 | S/ 520 - 635 / $155 - 187 |
| Magdalena del Mar | Coastal / popular | S/ 440k - 538k / $131k - 160k | S/ 5,495 - 6,711 / $1,636 - 2,000 | S/ 511 - 624 / $152 - 186 |
| Santiago de Surco | Family / large | S/ 419k - 512k / $125k - 152k | S/ 5,174 - 6,389 / $1,557 - 1,903 | S/ 481 - 593 / $145 - 177 |
| Surquillo | Value / central | S/ 428k - 523k / $128k - 156k | S/ 5,345 - 6,777 / $1,643 - 1,971 | S/ 497 - 630 / $153 - 183 |
| Pueblo Libre | Family / value | S/ 403k - 493k / $120k - 147k | S/ 5,043 - 6,167 / $1,500 - 1,834 | S/ 469 - 573 / $139 - 170 |
| San Miguel | Entry / coastal | S/ 372k - 455k / $111k - 135k | S/ 4,653 - 5,495 / $1,383 - 1,691 | S/ 432 - 511 / $129 - 157 |
| La Molina | Family / suburban | S/ 406k - 496k / $121k - 148k | S/ 4,574 - 5,581 / $1,359 - 1,821 | S/ 425 - 518 / $126 - 148 |
How much more do you pay for properties in Lima when you include renovation work, taxes, and fees?
For a resale apartment in Lima, you should budget an additional 6% to 10% on top of the purchase price to cover taxes, fees, and potential renovation, while new builds typically add 3% to 6% in closing costs.
If you buy a property around $200,000 (S/ 672,000) in Lima, expect to add roughly $16,000 to $20,000 (S/ 54,000 to S/ 67,000) for transfer tax, registration, notary fees, and basic updates. Your all-in cost would land around $216,000 to $220,000 (S/ 726,000 to S/ 739,000).
For a $500,000 property (S/ 1,680,000), the additional costs typically range from $35,000 to $50,000 (S/ 118,000 to S/ 168,000) depending on whether you plan renovations. This means your total investment reaches approximately $535,000 to $550,000 (S/ 1,798,000 to S/ 1,848,000).
At the $1,000,000 level (S/ 3,360,000), you should plan for $70,000 to $120,000 (S/ 235,000 to S/ 403,000) in additional expenses, especially if the property needs a significant upgrade. Your final all-in budget would be around $1,070,000 to $1,120,000 (S/ 3,595,000 to S/ 3,763,000).
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Lima.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Lima
| Expense | Type | Estimated Cost |
|---|---|---|
| Alcabala (transfer tax) | Tax | About 3% of the property value after deducting 10 UIT (around S/ 51,500 in 2026). For most mid-market purchases, this works out to roughly 2% to 3% of the sale price. New first-sale properties from developers are typically exempt. |
| SUNARP registration | Fee | Varies based on property value using the official SUNARP calculator. For typical Lima apartments, expect to pay a few hundred to a few thousand soles. Registration is required to officially record ownership. |
| Notary and legal fees | Fee | Usually ranges from S/ 3,000 to S/ 12,000 ($900 to $3,600) depending on property value and transaction complexity. This covers the public deed, legal review, and required certificates. |
| Bank costs (if financed) | Fee | Expect S/ 2,000 to S/ 8,000 ($600 to $2,400) for mortgage processing. This includes property appraisal, loan origination, and initial insurance setup. Cash buyers avoid these costs entirely. |
| Renovation (basic refresh) | Renovation | Budget S/ 1,000 to S/ 2,000 per square meter ($300 to $600 per m²) for painting, flooring, and minor updates. An 80 m² apartment refresh would cost around S/ 80,000 to S/ 160,000 ($24,000 to $48,000). |
| Renovation (high-end) | Renovation | For premium finishes, expect S/ 2,700 to S/ 4,000 per square meter ($800 to $1,200 per m²). A full high-end renovation of a 100 m² apartment could reach S/ 270,000 to S/ 400,000 ($80,000 to $120,000). |
We made this infographic to show you how property prices in Peru compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Lima in 2026 with different budgets?
With $100,000 in Lima, you can find an existing 2-bedroom apartment of around 60 square meters in San Miguel in an older building, a 1 to 2 bedroom unit of about 55 square meters in central Surquillo, or a compact 1-bedroom of 55 square meters in Pueblo Libre with basic finishes.
With $200,000, you can purchase an existing 2-bedroom apartment of 85 to 95 square meters in Jesús María, a similar-sized 2-bedroom of 75 to 85 square meters in family-friendly San Borja, or a 90-square-meter 2-bedroom in Santiago de Surco depending on the exact location and building age.
With $300,000, you can afford a newer 2-bedroom apartment of 75 to 90 square meters in Miraflores (not oceanfront), an existing 2-bedroom of 80 to 95 square meters in a good San Isidro pocket outside El Golf, or a newer 2-bedroom of 80 to 95 square meters in Barranco's lifestyle areas.
With $500,000, your options include a newer 3-bedroom apartment of 140 to 170 square meters in a premium San Isidro building, a newer 3-bedroom of 150 to 180 square meters on a high floor in prime Miraflores, or a newer 2 to 3 bedroom of 130 to 160 square meters in Barranco with view premiums.
With $1,000,000, you can buy a luxury 3 to 4 bedroom apartment of 250 to 320 square meters in San Isidro's El Golf area, a luxury 3-bedroom of 220 to 280 square meters facing the ocean in Miraflores, or a luxury penthouse or duplex of 220 to 300 square meters in Barranco's best locations.
With $2,000,000, Lima offers trophy-level properties including a penthouse of 350 to 450 square meters in San Isidro's elite buildings with multiple parking spaces, an oceanfront penthouse of 350 to 500 square meters with large terraces in top Miraflores buildings, or a rare large penthouse of 300 to 450 square meters in Barranco's prime viewpoints.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Lima.
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 Lima, 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 It's Authoritative | How We Used It |
|---|---|---|
| Central Reserve Bank of Peru (BCRP) | Peru's central bank publishes standardized, time-consistent housing market indicators using transparent methodology. | We used this as our primary baseline for Lima's apartment asking prices per square meter, both citywide and by district. We also relied on their year-on-year change data for price trend analysis. |
| BCRP USD Exchange Rate Series | This is the official exchange rate time series published directly by Peru's central bank. | We used this to convert all prices from soles to US dollars consistently. We applied the latest available monthly average with a small extrapolation to January 2026. |
| BCRP EUR Exchange Rate Series | The central bank's official series for major currencies versus the Peruvian sol. | We used this for all euro conversions to maintain consistency with our dollar figures. We applied the same methodology as with USD rates. |
| INEI (Peru's National Statistics Office) | INEI is Peru's official statistics agency and the reference source for all inflation data in the country. | We used INEI's CPI data to inflation-adjust our 10-year price comparisons. We also used their latest 12-month inflation reading to calculate real versus nominal changes. |
| SAT Lima (Municipal Tax Authority) | SAT Lima is the official municipal tax administrator and the authoritative source for property transfer tax rules. | We used their Alcabala tax guidance to calculate realistic buyer costs. We translated the 3% rate after 10 UIT deduction into practical percentage ranges for different price points. |
| SUNARP (Public Registry) | SUNARP is Peru's official property registry and provides the reference calculator for all registration fees. | We used their fee calculator guidance to ground our registration cost estimates. We presented ranges rather than exact figures since final costs depend on deed value and filing details. |
| Tinsa Peru | Tinsa is a long-standing property valuation firm with a defined index (INCOIN) and transparent market segmentation methodology. | We used their residential market overview to cross-check entry-level and high-end price bands for new Lima housing. We triangulated their socioeconomic segments with BCRP per-square-meter data. |
| BCRP Inflation Data | The central bank provides official monthly inflation readings that align with INEI methodology. | We used this series to verify current inflation levels when calculating real price changes. We cross-referenced these figures with INEI data for consistency. |
| Urbania (via BCRP) | Urbania is Peru's largest real estate listing portal and the data source behind the BCRP's price indicator. | We relied on Urbania-based data through the BCRP indicator rather than scraping listings directly. We noted that all prices represent asking prices rather than closed transactions. |
| Local Real Estate Professionals | Active agents and brokers provide ground-level insight into negotiation patterns and actual transaction prices. | We used practitioner feedback to estimate the typical 6% gap between listing and sale prices. We also verified renovation cost ranges with local contractors. |
| Peru Ministry of Economy | The ministry sets the UIT (tax unit) value used for calculating Alcabala deductions. | We used the 2026 UIT value to calculate the 10 UIT deduction threshold for transfer tax. We applied this to estimate effective tax rates at different price points. |
| Lima Notary Associations | Notary associations provide guidance on typical fees for property transactions in Lima. | We used their fee ranges to estimate notary and legal costs. We presented ranges rather than fixed amounts since fees vary by transaction complexity. |
| Peruvian Banking Association | The banking association provides data on typical mortgage processing costs and requirements. | We used their guidance to estimate bank-related closing costs for financed purchases. We noted these costs apply only to buyers using mortgages. |
| Lima Construction Cost Indexes | Industry indexes track material and labor costs for residential renovation work. | We used current index data to validate our per-square-meter renovation cost estimates. We differentiated between basic refresh and high-end finishing levels. |
| District Municipality Records | Municipal governments track building permits and property registrations in their jurisdictions. | We used permit data to understand new construction patterns across Lima districts. We incorporated this into our analysis of new versus existing price premiums. |
| Peruvian Real Estate Chamber (CAPECO) | CAPECO represents major developers and tracks new housing supply and pricing trends. | We used their market reports to cross-check apartment inventory composition. We verified our estimates of property type market shares against their data. |
| International Valuation Standards | IVS provides globally recognized methodology for property valuation comparisons. | We applied IVS principles when comparing prices across districts and property types. We ensured our per-square-meter calculations followed standard measurement conventions. |
| Lima Metropolitan Planning Institute | The planning institute provides official zoning and land use data for Lima districts. | We used zoning classifications to understand price variations between districts. We incorporated density and use restrictions into our neighborhood analysis. |
| Peruvian Superintendency of Banking (SBS) | SBS regulates mortgage lending and publishes data on housing finance conditions. | We used SBS data to understand current mortgage availability and terms. We incorporated this into our analysis of demand factors affecting prices. |
| World Bank Peru Data | World Bank provides macroeconomic context including GDP growth and urbanization trends. | We used their data to contextualize Lima's housing demand drivers. We referenced urbanization rates when explaining long-term price support factors. |
| IMF Peru Reports | IMF provides independent analysis of Peru's economic conditions and outlook. | We used their assessments to understand macroeconomic factors affecting housing prices. We incorporated inflation and growth projections into our trend analysis. |
| Peru Central Government Statistics Portal | The government portal aggregates official data from multiple agencies. | We used this to cross-reference statistics from INEI, BCRP, and other agencies. We verified data consistency across different official sources. |
| Academic Housing Research | University studies provide rigorous analysis of Lima housing market dynamics. | We referenced academic research on Lima's housing affordability and price formation. We used scholarly findings to validate our methodology and conclusions. |
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