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Lima's real estate market is experiencing significant momentum in 2025, with property prices rising 10% year-over-year and transaction volumes surging 30% in the first half of the year.
Premium districts like Miraflores and San Isidro command USD 2,000-2,500 per square meter, while emerging areas like Chorrillos show the strongest growth at 19% annual increases. The market faces tight inventory with over 13,700 listings struggling to meet booming demand, resulting in properties selling within 16 days on average in urban Lima.
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 housing market shows strong performance with double-digit price growth and record transaction volumes.
Prime coastal districts lead price appreciation while emerging areas offer the best investment opportunities.
| District | Price (USD/m²) | Annual Growth | Best For |
|---|---|---|---|
| Miraflores | 2,000-3,500 | 5-12% | Living, Tourism |
| San Isidro | 2,500 | 3-7% | Luxury, Families |
| Chorrillos | 800-1,500 | 19% | Investment, Growth |
| Barranco | 2,000-2,800 | 8-10% | Airbnb, Culture |
| La Molina | 1,200-2,000 | 4% | Families, Security |
| Magdalena del Mar | 1,300 | 8-10% | Value, Coastal |
| Ate/La Victoria | 800-1,100 | 12-19% | Emerging, Value |
What's the current average sale price for homes in Lima, and how has it changed in the past 3-6 months?
The current average sale price in Lima stands at USD 1,500 per square meter as of September 2025.
Premium districts command significantly higher prices, with Miraflores reaching USD 2,000-3,500 per square meter and San Isidro averaging USD 2,500 per square meter. On the other end, emerging districts offer entry points as low as USD 800 per square meter.
Lima's residential market has experienced robust growth over the past six months, with prime districts like Miraflores, San Isidro, and Surco posting 8-12% price increases. This quarterly performance significantly outpaces Peru's national average, which has seen only 0.1% growth and declining real prices when adjusted for inflation.
The annual picture shows even stronger momentum, with Lima property prices rising 10% year-over-year in 2025. Districts like Chorrillos and La Victoria lead this growth with increases reaching 19%, making them the fastest-appreciating areas in the capital.
It's something we develop in our Peru property pack.
How many properties are currently on the market in Lima, and how does that compare to this time last year?
Lima currently has over 13,700 property listings across all residential types as of mid-2025.
The market faces a significant supply-demand imbalance, with inventory failing to keep pace with surging buyer interest. Vacancy rates have dropped to approximately 5%, indicating a tight market where available properties move quickly.
Transaction activity has exploded compared to last year, with new home sales jumping 30% in the first half of 2025 versus the same period in 2024. This represents the fastest increase in transaction volumes in years, driven by improved economic conditions and increased buyer confidence.
Despite Peru facing an overall housing shortage of nearly 2 million units nationwide, Lima's market momentum remains strong. The capital continues to attract the majority of real estate investment and development activity in the country.
What's the current average time it takes for a property to sell in Lima?
Properties in urban Lima sell remarkably quickly, with the median time from listing to pending status at just 16 days as of September 2025.
This rapid pace reflects the intense buyer competition in Lima's tight market. Well-priced properties in desirable districts often receive multiple offers within the first week of listing, particularly in areas like Miraflores, San Isidro, and Barranco.
The broader Lima province shows a longer timeline at 54 days, as suburban and outlying areas naturally take more time to attract buyers. However, even this extended timeline represents strong market activity compared to historical norms.
Premium properties in sought-after locations can sell even faster than the 16-day average, especially when priced competitively. Unique properties like colonial homes in Barranco or luxury apartments with ocean views often generate immediate buyer interest.
How are prices trending in different districts of Lima right now?
| District | Average Price (USD/m²) | Annual Growth Rate | Market Characteristics |
|---|---|---|---|
| Miraflores | 2,000-3,500 | 5-12% | Premium coastal, expat hub |
| San Isidro | 2,500 | 3-7% | Luxury residential, business center |
| Surco | 1,800-2,200 | 7-10% | Gated communities, families |
| Barranco | 2,000-2,800 | 8-10% | Cultural district, boutique properties |
| La Molina | 1,200-2,000 | 4% | Spacious, suburban, secure |
| Magdalena del Mar | 1,300 | 8-10% | Coastal, emerging, value-oriented |
| Chorrillos | 800-1,500 | 19% | Fastest growth, beach access |
| Jesús María | 1,000-1,300 | 6% | Middle-class favorite, central |
| Ate/La Victoria | 800-1,100 | 12-19% | Industrial, emerging, value |
What's the average price per square meter in the most popular districts?
Lima's most popular residential districts show a clear price hierarchy based on location, amenities, and prestige.
Miraflores leads as the most expensive district, with prices ranging from USD 2,000 to USD 3,500 per square meter. This coastal district attracts international buyers and expatriates seeking Lima's premier lifestyle destination with beaches, restaurants, and cultural attractions.
San Isidro commands an average of USD 2,500 per square meter, positioning itself as Lima's luxury residential and business hub. The district offers top-tier security, elite schools, and sophisticated urban planning that justifies its premium pricing.
Barranco, Lima's cultural and artistic heart, averages USD 2,000-2,800 per square meter. Its colonial architecture, vibrant nightlife, and bohemian atmosphere make it particularly popular with younger professionals and creative industries.
Santiago de Surco represents excellent value for families at USD 1,800-2,200 per square meter, offering gated communities, parks, and suburban convenience with reasonable access to central Lima.
How do prices and demand differ between apartments, houses, and other property types?
Apartments dominate Lima's central and premium districts, particularly in Miraflores, San Isidro, and Barranco, where they command USD 2,000-3,500 per square meter.
Single-family houses concentrate in suburban districts like La Molina and Surco, typically priced 20-30% lower per square meter than central apartments at USD 1,200-2,000 per square meter. However, houses offer larger total living spaces and private land ownership, making them attractive to families despite higher total purchase prices.
Colonial and boutique properties in Barranco and historic zones fetch premium prices similar to or exceeding luxury apartments due to their unique character and strong demand from foreign buyers. These properties often serve as both residences and investment vehicles for short-term rental markets.
Value segment properties in emerging districts like Ate, La Victoria, and Chorrillos offer the most accessible entry points, with starter apartments beginning around USD 800 per square meter. These areas show the strongest price appreciation potential as they undergo urban development and infrastructure improvements.
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What rental yields can you expect in different areas of Lima today?
Lima's rental market delivers an average gross yield of 5.97% as of the second quarter of 2025, representing a slight decline from 6.13% in late 2024.
Prime districts including Miraflores, San Isidro, and Barranco typically generate 5-7% gross rental yields for well-positioned apartments. However, yields in these premium areas are gradually declining as property prices rise faster than rental rates, creating a compression effect on returns.
Mid-market and up-and-coming districts continue to offer more attractive yields, often delivering returns close to or slightly above 6% for budget-friendly properties and family homes. Districts like Jesús María, Magdalena del Mar, and parts of Surco fall into this category.
Emerging districts like Chorrillos, Ate, and La Victoria present opportunities for higher yields due to their lower entry costs and growing rental demand. These areas benefit from infrastructure improvements and changing demographics that support rental growth.
It's something we develop in our Peru property pack.
Are transaction volumes increasing or decreasing compared to the last quarter?
Transaction volumes in Lima are reaching record levels, with new home sales surging 30% in the first half of 2025 compared to the same period in 2024.
This represents the fastest increase in transaction activity in years, driven by improved economic stability, competitive mortgage rates, and growing confidence in Lima's property market. The momentum has been particularly strong in central and southern districts where most development activity concentrates.
Modern Lima districts and coastal areas lead transaction growth, with buyers showing strong preference for newly developed properties that offer contemporary amenities and security features. The surge reflects both domestic demand and increased interest from international buyers.
Despite overall housing shortage concerns at the national level, Lima continues to capture the majority of Peru's real estate investment and development activity, reinforcing its position as the country's primary property market.
What are local experts forecasting for Lima's housing market in the next 6-12 months?
Local real estate experts predict continued but moderating price growth of 3-7% over the next 12 months across most Lima districts.
This forecast represents a normalization after the strong 10% annual growth experienced in 2025, as the market adjusts to higher price levels and evolving demand patterns. High demand, improved infrastructure investments, and stable mortgage rates will continue supporting property values, particularly in coastal and professional districts.
Premium areas are expected to outperform the national average, with districts like Miraflores, San Isidro, and Barranco maintaining their appeal to both domestic and international buyers. Emerging districts will likely experience gradual price appreciation as they benefit from gentrification and new amenities.
Rental yields may continue experiencing slight compression if property prices outpace rental rate increases. However, experts don't anticipate any major market corrections, as no significant oversupply issues exist and demand fundamentals remain strong.
Market health indicators suggest stability, with any potential weakness likely limited to older properties in less desirable areas or oversaturated new-build segments rather than broad market concerns.
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.
Which districts are currently considered undervalued or up-and-coming for buyers?
Ate stands out as the most undervalued district for 2025, offering budget-friendly land prices combined with booming industrial expansion that creates excellent opportunities for commercial development and value-seeking investors.
Magdalena del Mar represents exceptional value for coastal property seekers, earning recognition as "the next Miraflores" for mid-market buyers and investors. The district offers affordable ocean-view properties with strong appreciation potential as infrastructure and lifestyle amenities continue improving.
Chorrillos leads emerging districts with the highest price growth rate at 19% annually, driven by infrastructure upgrades and scenic beach access. The district benefits from shifting work-from-home trends that increase demand for coastal living at accessible price points.
Traditional neighborhoods like Surquillo, Jesús María, and Pueblo Libre are experiencing urban renewal after years of being overlooked by investors. These areas offer apartment prices that remain affordable while showing consistent growth as they undergo gentrification and benefit from improved transportation links.
La Victoria, despite its industrial character, presents significant upside potential due to extremely low land costs and rapid development of commercial and mixed-use projects that will likely drive residential demand in surrounding areas.
If you're buying to live, where do you get the best balance of value, amenities, and safety right now?
1. **San Isidro** - Offers Lima's most secure environment with upscale amenities, top-tier schools and parks, international dining options, and excellent public safety records, though at premium pricing.2. **La Molina** - Provides spacious gated communities ideal for families seeking quiet suburban living with modern infrastructure, parks, and shopping centers while maintaining reasonable security.3. **Miraflores** - Delivers vibrant walkable neighborhoods with beach access, cultural attractions, restaurants, and nightlife, making it particularly attractive to expatriates and young professionals.4. **San Borja** - Features environmentally conscious development with green spaces, modern infrastructure, and eco-friendly building standards, appealing to sustainability-minded residents.5. **Jesús María and Magdalena del Mar** - Represent excellent value propositions for first-time buyers and professionals, offering green areas, new developments, and growing amenities at more accessible price points than premium districts.If you're buying to rent out or resell, which areas and price ranges are showing the strongest short-term and long-term potential?
Barranco leads investment potential with its bohemian appeal and luxury apartment developments that excel in short-term rental markets like Airbnb.
The district's vibrant art scene, colonial architecture, and active nightlife generate consistent high demand from tourists and young professionals, supporting both rental income and long-term value appreciation. Properties with character and ocean views command premium rental rates year-round.
Chorrillos offers the strongest price growth trajectory at 19% annually, making it ideal for capital appreciation strategies. Infrastructure improvements, scenic beaches, and changing work patterns favor this coastal district for both short-term gains and long-term investment horizons.
Santiago de Surco provides steady appreciation potential with its family-oriented appeal, new metro connections, and consistent demand from Lima's growing middle class. The district offers reliable rental yields and gradual but sustainable price growth.
Emerging value plays in Ate and La Victoria present the highest potential returns for investors with longer time horizons, as these areas benefit from low entry costs, industrial expansion, and urban development that will likely drive significant value creation over 5-10 year periods.
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 housing market demonstrates exceptional strength in 2025, with double-digit price growth and record transaction volumes creating opportunities across diverse price ranges and districts.
Whether seeking a primary residence or investment property, Lima offers compelling options from premium coastal districts to rapidly appreciating emerging areas, each serving different investor profiles and budget requirements.