Summary
Across Lima, apartments listed for sale ask a median $1,950 per m² (TuLugar, September 2026), and the median 2-bedroom asks about $115,000 to $237,000 depending on the district.
The cheapest districts we have solid figures for are La Victoria, Pueblo Libre and Surquillo, where the median 2-bedroom asks about $115,000 to $128,000. At the top end, a 3-bedroom house in San Isidro asks about $995,000.
These are asking prices. On new apartments, the gap between advertised and sold prices was about 5.5% in July 2026 (CODIP). On older resale homes there's usually more room.
Per square foot, that's about $181 across Lima. The central bank's own 12-district measure gives $2,042 per m² for the first quarter of 2026.
Prices rose 10.9% in a year in dollars, but fell 1.0% in soles once you take out inflation (BCRP, first quarter of 2026). Inflation in Lima was 4.55% over 12 months in September 2026.
The sol is about 3.44 per dollar, stronger than its 3.56 average of 2025. Dollar-priced apartments in Miraflores or San Isidro didn't get cheaper for you; sol-priced homes got dearer.
In Miraflores, houses ask less per m² than apartments ($2,176 against $2,474); in San Isidro, it's the other way round ($2,622 against $2,529).
New apartments carry a big premium: across Lima, new units ask about 21% to 26% more per m² than buildings over 5 years old, and about 46% more in Jesús María (BCRP data).
San Isidro ($2,529/m²), Barranco ($2,523/m²) and Miraflores ($2,474/m²) are the most expensive districts. La Molina apartments ask about $1,410/m², and San Isidro had the biggest one-year jump, +21.5% in dollars.
Buying costs add about 3% to 4% on a resale home (mostly the 3% alcabala) and about 1% to 2% on a new apartment bought from the developer. On a $200,000 resale home, plan about S/ 21,350 to S/ 22,600.
With $300,000, you get about 120 m² in Miraflores or San Isidro at the median price, about 153 m² in San Borja or about 165 m² in Surco.
About 55,916 new apartments were for sale in Lima and Callao in August 2026, roughly two years of sales. That's your bargaining power, more than the change of government on July 28, 2026.
Bottom line: budget around $1,950/m² for Lima as a whole, $2,500/m² in the prime coastal districts, negotiate hard on resale and on projects with lots of unsold units, and add 3% to 4% for costs.
What does a cheap, a typical and a top-end home ask in Lima?
The useful number is the median, not the average: a few very expensive homes in San Isidro, Miraflores and Barranco pull any average up.
TuLugar tracked 21,108 apartments for sale in Lima in September 2026, at a median $1,950 per m². Lima is about 93% of the 22,670 apartments it tracks in all of Peru, so the national medians are basically Lima's: about $118,000 (about S/ 406,000) for a 1-bedroom, $155,000 (about S/ 533,000) for a 2-bedroom and $224,000 (about S/ 771,000) for a 3-bedroom.
District by district, the median 2-bedroom goes from about $115,000 (about S/ 396,000) in La Victoria, $122,000 (about S/ 420,000) in Pueblo Libre and $128,000 (about S/ 440,000) in Surquillo, to about $237,000 (about S/ 815,000) in Miraflores. Outer districts like San Juan de Lurigancho, Los Olivos or Callao usually ask less, but we found no reliable 2026 figure for them.
At the top end, the median 3-bedroom house asks about $995,000 (about S/ 3,420,000) in San Isidro, $773,000 (about S/ 2,660,000) in Miraflores and $707,000 (about S/ 2,430,000) in La Molina (TuLugar, October 2026, small samples). Big penthouses and houses in Casuarinas are a thin market with very few public prices.
Social housing works differently: new homes up to 35 UIT, or S/ 192,500 (about $56,000), are exempt from IGV, and many first-time Peruvian buyers use MiVivienda loans. As a foreign buyer without Peruvian income, you won't usually qualify.
How far below the asking price do Lima homes actually sell?
On new apartments, the gap between the advertised price and the price actually sold was about 5.5% in July 2026, according to CODIP. That's an average across projects, not what you'll get on one specific home.
On older resale homes, there's no official figure, but the room is usually bigger. Old buildings that need work, oversized units and listings that have sat online for months are where sellers give the most. Resale sellers also compete with developers holding almost 56,000 unsold new apartments.
What to do: check how long the listing has been online, look at the past transfers in the SUNARP registry (partida registral), and open below the asking price, especially on dollar-priced homes where the seller's real gain in soles has shrunk.
What is the price per square meter (and square foot) in Lima?
In September 2026, apartments for sale in Lima asked a median $1,950 per m², or about S/ 6,700 per m², which is about $181 per ft² (TuLugar).
Two other measures land close by. The central bank (BCRP), using Urbania listings in 12 districts, found $2,042 per m² (about $190 per ft²) for the first quarter of 2026. Urbania's own index put Lima at S/ 6,886 per m² (about $2,000) in April 2026.
The top is San Isidro, Barranco and Miraflores, at about $2,470 to $2,530 per m² (about $230 to $235 per ft²). The cheaper end in our data is La Molina apartments, at about $1,410 per m² ($131 per ft²), and Santiago de Surco at $1,813. Older buildings in outer districts ask less, but we have no reliable 2026 figure for them.
Peru Property Prices
How have property prices evolved in Lima?
It depends on the currency you count in. Between the first quarter of 2025 and the first quarter of 2026, Lima apartment asking prices rose 10.9% in dollars, from $1,841 to $2,042 per m². In soles, after inflation, they fell 1.0% (BCRP).
The rise was uneven: +21.5% in San Isidro, +20.3% in Jesús María, +14.8% in Magdalena del Mar, +13.4% in Pueblo Libre and +10.5% in Miraflores, but only +4.1% in La Molina and +3.1% in Lince (all in dollars).
Inflation is the other half of the story: consumer prices in Lima rose 4.55% over the 12 months to September 2026, close to their highest level in years. A home whose sol price rises 4% a year is flat in real terms.
Demand is real: 2,426 new apartments were sold in Lima and Callao in August 2026, 12.8% more than a year earlier (CODIP), and the mortgage book grew 7.6% in a year. But that's more sales, not proof that every district keeps rising.
Is the stronger sol making Lima homes more expensive for you?
Only if the home is priced in soles. The sol averaged 3.75 per dollar in 2024 and 3.56 in 2025; it's about 3.44 now (SUNAT/SBS, October 22, 2026). It weakened a little this past month, from about 3.38, after peaking around 3.36 in May 2026.
A home priced at S/ 688,000 cost about $183,000 at the 2024 rate and about $200,000 now. A home priced in dollars, the norm in Miraflores, San Isidro and Barranco, costs the same in dollars, but the Peruvian seller gets fewer real soles than a year ago. That's a negotiating argument.
Forecasts don't point to a weak sol soon: the BCRP's September survey expects 3.35 to 3.40 by December 2026, BBVA 3.25 to 3.35 and Citi 3.45. If the seller quotes in soles, compare offers in dollars on the day you sign, and write the price and the currency in the contract before you send money.
Are houses cheaper than apartments in Lima?
Per square meter, it depends on the district. In Miraflores, houses ask about $2,176 per m² of built area against $2,474 for apartments. In San Isidro, houses ask more: about $2,622 per m² against $2,529 (TuLugar, October and September 2026).
In total price, a house is in another league because it's bigger. The median 3-bedroom house asks about $445,000 (about S/ 1,530,000) in Magdalena del Mar, $649,000 (about S/ 2,230,000) in Santiago de Surco, $675,000 (about S/ 2,320,000) in San Borja, $707,000 (about S/ 2,430,000) in La Molina and $995,000 (about S/ 3,420,000) in San Isidro (October 2026, small samples).
Most of the market is apartments: across Peru, where Lima dominates, the median apartment asks about $176,000 (about S/ 605,000) and the median house about $350,000 (about S/ 1,200,000) (TuLugar, September 2026). Houses with a garden mostly mean La Molina, Surco or the gated areas around Casuarinas.
70+pagesHow much more does a new apartment cost than an older one in Lima?
A lot more than most buyers expect. Across Lima, new apartments ask about 21% to 26% more per m² than buildings over 5 years old (Acento, from BCRP data, October 2026). In some districts the gap is far bigger: in Jesús María, new apartments asked about $2,528 per m² in the first quarter of 2026, against about $1,734 for buildings over 5 years old, a premium of about 46% (BCRP).
You pay for elevators, security, parking, common areas and lower repair risk, and developers often offer payment plans. On the other side, about 55,916 new apartments were for sale in Lima and Callao in August 2026 (CODIP), so developers with lots of unsold units have reasons to negotiate.
New apartments also have lower buying costs: the first sale by a developer is exempt from alcabala (except on the land share), and the IGV is already included in the price.
How do property prices vary by neighborhood in Lima?
In Miraflores, apartments asked about $2,474 per m² in September 2026, and the median 2-bedroom about $237,000 (about S/ 815,000). Prices rose 10.5% in dollars in a year (BCRP). You pay for the clifftop parks, walkability, restaurants and a big pool of expat and short-stay renters.
San Isidro is the most expensive per m², at about $2,529, with a median 2-bedroom of about $232,000 (about S/ 798,000). It also had the biggest jump, +21.5% in dollars in a year, carried by offices, embassies, the Olivar park and high-end buildings.
Barranco asks about $2,523 per m², but its median 2-bedroom is cheaper, about $180,000 (about S/ 619,000), because many units are small. Its prices rose a calmer 7.6% in dollars.
For better value close to the center, look at Pueblo Libre ($1,868 per m²) and Surquillo ($1,939), where the median 2-bedroom asks $122,000 to $128,000. Jesús María ($2,141 per m², +20.3% in a year), Magdalena (+14.8%) and Lince ($2,236) are no longer the bargains they were.
Here's how prices change across districts (TuLugar asking prices for September 2026; one-year change from the BCRP, first quarter of 2025 to first quarter of 2026, in dollars):
| Lima neighborhood | Typical buyer profile | Median 2-bedroom asking price | Asking price per m² (per ft²) | One-year change (BCRP, in $) |
|---|---|---|---|---|
| San Isidro | Luxury and business | $232,000 S/ 798,000 |
$2,529 about $235/ft² |
+21.5% |
| Miraflores | Expat and coastal | $237,000 S/ 815,000 |
$2,474 about $230/ft² |
+10.5% |
| Barranco | Trendy and boutique | $180,000 S/ 619,000 |
$2,523 about $234/ft² |
+7.6% |
| San Borja | Family and parks | $188,000 S/ 647,000 |
$1,958 about $182/ft² |
+7.9% |
| Santiago de Surco | Family and large supply | $184,000 S/ 633,000 |
$1,813 about $168/ft² |
+6.6% |
| La Molina | Houses and family | $162,000 S/ 557,000 |
$1,410 about $131/ft² |
+4.1% |
| Magdalena del Mar | Coastal and value | $151,000 S/ 519,000 |
$2,135 about $198/ft² |
+14.8% |
| Jesús María | Central and family | $138,000 S/ 475,000 |
$2,141 about $199/ft² |
+20.3% |
| Lince | Central and compact | $150,000 S/ 516,000 |
$2,236 about $208/ft² |
+3.1% |
| Surquillo | Central and value | $128,000 S/ 440,000 |
$1,939 about $180/ft² |
+7.2% |
| Pueblo Libre | Family and value | $122,000 S/ 420,000 |
$1,868 about $174/ft² |
+13.4% |
70+pagesHow much more do you pay for properties in Lima when you include renovation work, taxes, and fees?
On a resale home, buying costs add about 3% to 4% of the price, most of it the alcabala tax. On a new apartment bought from the developer, it's about 1% to 2%. Renovation, furniture and a lawyer come on top.
If you buy a resale apartment for $200,000 (about S/ 688,000), alcabala, SUNARP registration and the notary come to about S/ 21,350 to S/ 22,600 (about $6,200 to $6,550), or about 3.1% to 3.3%. If you also repaint and fix up an 80 m² unit, add roughly S/ 24,000 to S/ 64,000 (about $7,000 to $18,600).
For a $500,000 (about S/ 1,720,000) resale home, closing costs come to about S/ 55,400 to S/ 56,650 (about $16,100 to $16,450). A full renovation of a 200 m² older apartment in Miraflores could add roughly S/ 200,000 to S/ 500,000 (about $58,000 to $145,000).
For a $1,000,000 (about S/ 3,440,000) home, closing costs come to about S/ 112,150 to S/ 113,400 (about $32,600 to $32,950). At that level, renovation, finishes and furniture are what make the bill swing.
One rule to know: any payment of S/ 2,000 or $500 and above must go through a bank (bancarización). Pay outside the banking system and SUNAT may not accept it, for example as your purchase cost when you sell later.
Here's a detailed table of the extra costs when buying a property in Lima:
| Extra cost | Type | Estimated cost range in Lima |
|---|---|---|
| Alcabala transfer tax | Tax | 3% of the value above the first 10 UIT. In 2026, the UIT is S/ 5,500, so the first S/ 55,000 is exempt. On a $200,000 resale home, that's about 2.8% of the price. Paid by the buyer. The first sale by a developer is exempt, except on the land share. |
| IGV on new homes | Tax | 18% on the construction part of a developer's first sale (land excluded), already included in the listed price. Homes up to 35 UIT (S/ 192,500) are exempt. |
| Notary costs | Legal and closing | About S/ 250 ($73) to S/ 1,500 ($435) for the escritura pública, depending on the notary and the price. |
| SUNARP registration | Registry | About 0.3% of the value plus S/ 44.50 (2026 SUNARP tariff). On a $200,000 home, about S/ 2,100 ($610). |
| Legal due diligence | Legal | No official tariff. Ask for a fixed quote covering the partida registral, cargas y gravámenes, municipal debts, building permits and the contract. |
| Broker commission | Agency | Usually 3% to 5%, paid by the seller, but it ends up in the price you negotiate. |
| Light renovation | Renovation | A rough working range is S/ 300 to S/ 800 per m² (about $85 to $235). Paint, basic repairs, simple kitchen and bathroom work. There's no official benchmark: get at least two quotes. |
| Full renovation | Renovation | Roughly S/ 1,000 to S/ 2,500 per m² (about $290 to $725): bathrooms, kitchen, floors, wiring, plumbing. Quotes vary a lot. |
| Furniture and appliances | Fit-out | Roughly S/ 15,000 for a small rental apartment to S/ 120,000 or more for a large family home (about $4,350 to $35,000). |
| Building debts and repairs | Risk reserve | Keep a reserve, roughly S/ 2,000 to S/ 20,000 (about $580 to $5,800), for older buildings with delayed repairs, unpaid fees or elevator work. Ask the building administrator for any debts on the unit before signing. |
70+pagesWhat can you buy in Lima with $100,000, $300,000 or $1 million?
With $100,000 (about S/ 344,000), you get about 51 m² at the Lima median, about 54 m² in Pueblo Libre or 71 m² of apartment in La Molina, but only about 40 m² in Miraflores or San Isidro. That's a 1-bedroom, or a small 2-bedroom outside the prime districts.
With $200,000 (about S/ 688,000), you get about 93 m² in Jesús María or Magdalena del Mar, about 102 m² in San Borja, 110 m² in Santiago de Surco, or about 81 m² in Miraflores. That's a good 2- or 3-bedroom apartment.
With $300,000 (about S/ 1,030,000), you get about 120 m² in Miraflores or San Isidro, about 153 m² in San Borja or about 165 m² in Surco, at median prices.
With $500,000 (about S/ 1,720,000), you get about 200 m² in Miraflores, San Isidro or Barranco at the median, or a 3-bedroom house in Magdalena del Mar (median about $445,000). In the best buildings, prices run well above the median, so expect less space there.
With $1,000,000 (about S/ 3,440,000), you're looking at the median 3-bedroom house in San Isidro (about $995,000) or a large house in Miraflores or La Molina, or a big apartment in a top building facing the Olivar or the ocean.
With $2,000,000 (about S/ 6,880,000), Lima has a real market, but it's narrow: penthouses in San Isidro and Miraflores, large houses in Casuarinas or La Molina. Few sales are public, so comparable sales from the agent and a local lawyer matter more than portal averages.
Will the new government or the 56,000 unsold new apartments push Lima prices down?
Politics: Keiko Fujimori won the June 7, 2026 runoff by fewer than 50,000 votes and took office on July 28, 2026, Peru's 9th president in a decade. Her stated priorities are political stability, crime and growth. The construction chamber CAPECO said it had good expectations for the new government, and construction grew 11.8% in the first half of 2026.
Crime: the state of emergency over extortion in Lima and Callao has been extended several times in 2025 and 2026, most recently for 60 more days from October 28, 2026 (Decreto Supremo 142-2026-PCM, published October 25). Before you buy, ask neighbors and the building administrator about extortion around building works and local shops, and visit the street at night.
Supply: about 55,916 new apartments were for sale in Lima and Callao in August 2026, while 2,426 were sold that month. That's about two years of stock at the current pace. Prices aren't collapsing (sales are up 12.8% in a year), but in projects with many unsold units, ask for a discount, a free parking space or better payment terms.
Credit: the average mortgage rate was 7.61% in soles and 7.11% in dollars in October 2026, with the BCRP's policy rate at 4.25%. If you're not a Peruvian resident with local income, plan for cash.
What could lift some areas: Metro Line 2, from Ate to Callao, was at 96% of civil works for stage 1B and 91% for stage 2 in August 2026 (OSITRAN), but stage 1B is only expected to open in 2029 and stage 2 in October 2030. Lima also hosts the Pan American Games from July 23 to August 8, 2027. Check that a station is really on the map before you pay a premium for being near it.
Our methodology
This article estimates what homes cost in Lima: typical prices, prices per m² and per ft², changes over a year, the gap with sale prices, buying costs and what each budget buys, district by district.
Prices come from listing data: the BCRP's study of Lima apartment prices in 12 districts (first quarter of 2026), TuLugar's deduplicated sale listings (September and October 2026) and the Urbania index (April 2026). All are asking prices, not signed sales. Lima doesn't publish a price index for closed sales, so we used CODIP's new-build figures for the gap between advertised and sold prices.
Buying costs come from official rules: the MEF for the 2026 UIT, SAT Lima for alcabala, SUNAT for IGV and bancarización, and SUNARP's 2026 tariff as reported by EximiaHaus. We calculated the cost examples and the budget sizes ourselves.
We checked these figures in October 2026. Sol amounts are converted at about 3.44 soles per US dollar (and 3.85 soles per euro), the SUNAT/SBS rate of October 22, 2026.
Where we had no direct figure (outer districts like San Juan de Lurigancho or Callao, the resale negotiation gap, renovation costs), we said so or gave a rough range instead of a precise number. Your own costs will depend on the exact building, its condition, the seller and the currency of the deal.
Key sources used for this analysis include BCRP Nota de Estudios 51-2026, BCRP's apartment price indicator, TuLugar's September 2026 report, CODIP and BCRP data via Acento, the Urbania index via La República, INEI, MEF, SAT Lima and EximiaHaus.
