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 thinking about buying an apartment in Lima as a foreigner, you probably want clear numbers, not generic advice.
This guide breaks down what apartments in Lima actually cost in 2026, covering prices by size and neighborhood, closing costs, taxes, and monthly expenses you'll face after purchase.
We constantly update this blog post with the latest data from official Peruvian sources, including the Central Reserve Bank and municipal tax authorities.
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 in 2026 show a nearly 4x gap between the cheapest districts like San Juan de Lurigancho at around S/ 3,200 per m² and premium coastal areas like San Isidro at over S/ 12,000 per m².
- Foreign buyers in Lima typically need 20% to 35% down payment since Peruvian banks apply stricter underwriting rules without local income documentation or residency.
- The Alcabala transfer tax in Lima is 3%, but only kicks in above the first 10 UIT (about S/ 55,000), meaning a S/ 350,000 apartment generates roughly S/ 8,900 in transfer tax.
- New-build apartments from developers in Lima often skip full Alcabala because first sales typically only apply the tax to land value, cutting buyer closing costs by 1.5% to 2%.
- Monthly building maintenance fees in Lima range from S/ 250 in basic mid-market buildings to over S/ 1,200 in prime districts with pools, gyms, and 24-hour security.
- Lima's mild year-round climate means air conditioning costs are minimal, keeping typical utility bills between S/ 200 and S/ 400 monthly for electricity, water, and internet combined.
- Property taxes in Lima use the "autoavalúo" (municipal assessed value), which is usually 60% to 80% of market value, resulting in annual taxes between S/ 500 and S/ 5,000 for most apartments.
- Rental yields in Lima average around 6% in 2026, with emerging districts like Lince and Surquillo often outperforming premium areas like Miraflores on yield percentage.
How much do apartments really cost in Lima in 2026?
What's the average and median apartment price in Lima in 2026?
As of January 2026, the average apartment price in Lima is approximately S/ 544,000 (around $162,000 or €139,000) for a standard 80 m² unit, while the median sits slightly lower at about S/ 520,000 ($155,000 or €133,000) because expensive coastal districts pull the average upward.
When you look at price per square meter, the citywide Lima average in 2026 is around S/ 6,800 per m² ($2,020 per m² or €1,740 per m²), which translates to roughly S/ 632 per square foot ($188 per sq ft or €162 per sq ft).
In practical terms, most standard apartments in Lima fall within a price range of S/ 300,000 to S/ 900,000 ($89,000 to $268,000 or €77,000 to €230,000), depending on size, district, and whether you're buying new or resale.
How much is a studio apartment in Lima in 2026?
As of January 2026, a typical studio apartment in Lima costs between S/ 150,000 and S/ 280,000 ($45,000 to $83,000 or €39,000 to €71,000) depending heavily on the district you choose.
Entry-level studios in budget districts like Los Olivos or San Juan de Lurigancho start around S/ 110,000 to S/ 140,000 ($33,000 to $42,000 or €28,000 to €36,000), while premium studios in Miraflores or Barranco can reach S/ 350,000 to S/ 420,000 ($104,000 to $125,000 or €89,000 to €108,000).
Studios in Lima typically measure around 30 to 40 m², with 35 m² being the most common size for new developments targeting young professionals or investors looking for rental income.
How much is a one-bedroom apartment in Lima in 2026?
As of January 2026, a typical one-bedroom apartment in Lima costs approximately S/ 320,000 to S/ 400,000 ($95,000 to $119,000 or €82,000 to €102,000) in mid-market districts like Pueblo Libre or Jesús María.
Budget-friendly one-bedroom apartments in districts like San Juan de Lurigancho or Los Olivos range from S/ 175,000 to S/ 220,000 ($52,000 to $65,000 or €45,000 to €56,000), whereas high-end one-bedrooms in Miraflores or San Isidro can cost S/ 550,000 to S/ 700,000 ($163,000 to $208,000 or €140,000 to €179,000).
One-bedroom apartments in Lima typically measure between 50 and 60 m², with 55 m² being the standard layout that includes a separate bedroom, living area, kitchen, and one bathroom.
How much is a two-bedroom apartment in Lima in 2026?
As of January 2026, a typical two-bedroom apartment in Lima costs around S/ 500,000 to S/ 600,000 ($149,000 to $179,000 or €128,000 to €154,000) in popular mid-market districts like Lince, Magdalena, or San Miguel.
Budget two-bedroom apartments in emerging areas like Los Olivos or Callao start from S/ 255,000 to S/ 330,000 ($76,000 to $98,000 or €65,000 to €84,000), while luxury two-bedroom units in Miraflores, San Isidro, or Barranco range from S/ 800,000 to over S/ 1,050,000 ($238,000 to $312,000 or €205,000 to €268,000).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Lima.
How much is a three-bedroom apartment in Lima in 2026?
As of January 2026, a typical three-bedroom apartment in Lima costs between S/ 700,000 and S/ 950,000 ($208,000 to $283,000 or €179,000 to €243,000) in family-friendly mid-market districts.
Entry-level three-bedroom apartments in outer districts like San Juan de Lurigancho or Los Olivos range from S/ 350,000 to S/ 460,000 ($104,000 to $137,000 or €89,000 to €118,000), while premium three-bedroom units in San Isidro or Miraflores easily reach S/ 1,100,000 to S/ 1,450,000 ($327,000 to $431,000 or €281,000 to €371,000).
Three-bedroom apartments in Lima typically measure 100 to 120 m², with 110 m² being a common configuration that includes three bedrooms, two bathrooms, a living-dining area, and often a service area or laundry space.
What's the price gap between new and resale apartments in Lima in 2026?
As of January 2026, new-build apartments in Lima typically cost 10% to 20% more per square meter than comparable resale units, with the premium being larger in prime coastal districts where developers add modern amenities and updated seismic standards.
For new-build apartments in Lima in 2026, expect to pay around S/ 7,500 to S/ 8,200 per m² ($2,230 to $2,440 per m² or €1,920 to €2,100 per m²) in mid-market districts, while premium new projects in Miraflores or San Isidro can exceed S/ 12,000 per m².
Resale apartments in Lima in 2026 average closer to S/ 6,200 to S/ 7,000 per m² ($1,850 to $2,080 per m² or €1,590 to €1,790 per m²) in comparable locations, making them attractive for buyers focused on value rather than brand-new finishes.
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Can I afford to buy in Lima in 2026?
What's the typical total budget (all-in) to buy an apartment in Lima in 2026?
As of January 2026, the typical all-in budget to buy a standard two-bedroom apartment in a mid-market Lima district is approximately S/ 540,000 to S/ 580,000 ($161,000 to $173,000 or €138,000 to €149,000), which includes the purchase price plus all closing costs.
Beyond the purchase price, your all-in budget in Lima should account for Alcabala transfer tax (the largest cost at roughly 3% above the exempt threshold), notary fees, public registry costs, legal fees, and if you're financing, bank appraisal and mortgage setup charges.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Lima property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Lima.
What down payment is typical to buy in Lima in 2026?
As of January 2026, the typical down payment to buy an apartment in Lima is around 20% of the purchase price for well-qualified local buyers, which means approximately S/ 100,000 ($30,000 or €26,000) on a S/ 500,000 apartment.
Peruvian banks like BBVA, BCP, and Interbank technically offer mortgages with down payments as low as 10% for certain products, but these require strong local credit history and stable Peru-based income documentation.
For foreign buyers without Peruvian residency or local income proof, banks typically require 25% to 35% down payment, and sometimes even higher, making cash purchases or developer financing more common strategies for international buyers in Lima.
You can also read our latest update about mortgage and interest rates in Peru.
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.
Which neighborhoods are cheapest or priciest in Lima in 2026?
How much does the price per m² for apartments vary by neighborhood in Lima in 2026?
As of January 2026, the price per square meter for apartments in Lima ranges dramatically from around S/ 3,200 ($950 or €820) in the most affordable districts to over S/ 12,000 ($3,570 or €3,070) in the most exclusive coastal neighborhoods.
The most affordable neighborhoods for apartment buyers in Lima in 2026 include San Juan de Lurigancho at approximately S/ 3,200 per m² ($950 or €820), Los Olivos at around S/ 3,300 per m² ($980 or €840), and Callao at roughly S/ 3,400 per m² ($1,010 or €870).
The most expensive neighborhoods in Lima for apartments in 2026 are San Isidro at approximately S/ 12,200 per m² ($3,630 or €3,120), Barranco at around S/ 12,000 per m² ($3,570 or €3,070), and Miraflores at roughly S/ 10,800 per m² ($3,210 or €2,760).
By the way, we've written a blog article detailing what are the current best areas to invest in property in Lima.
What neighborhoods are best for first-time buyers on a budget in Lima in 2026?
As of January 2026, the top three neighborhoods for budget-conscious first-time apartment buyers in Lima are San Miguel (coastal-adjacent value), Pueblo Libre (central and practical), and Lince (compact units at accessible prices compared to neighboring Miraflores).
In these budget-friendly Lima neighborhoods, typical apartment prices range from S/ 350,000 to S/ 550,000 ($104,000 to $164,000 or €89,000 to €141,000) for a standard two-bedroom unit, which is 30% to 50% less than equivalent apartments in Miraflores or San Isidro.
These neighborhoods offer first-time buyers in Lima good public transport connections, established commercial areas, supermarkets, parks, and a mix of new and older buildings to choose from.
The main trade-off of buying in these more affordable Lima districts is that you'll be farther from the oceanfront and the upscale restaurant and nightlife scene concentrated in Miraflores and Barranco.
Which neighborhoods have the fastest-rising apartment prices in Lima in 2026?
As of January 2026, the three Lima neighborhoods with the fastest-rising apartment prices are San Isidro (continued high-end demand), Surquillo (spillover effect from nearby Miraflores), and Barranco (scarcity combined with lifestyle appeal).
These fast-appreciating Lima districts have seen year-over-year price increases of approximately 8% to 12% in nominal terms, outpacing the citywide average of around 4% annual growth.
The main drivers behind rapid price growth in these Lima neighborhoods include limited buildable land (especially in Barranco), strong domestic and international demand for walkable coastal living, and infrastructure improvements like the upcoming Lima Metro Line 2 expected to boost connectivity by 2026.
You can also read our latest update about property price forecasts in Lima.
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What extra costs will I pay on top of the apartment price in Lima in 2026?
What are all the buyer closing costs when you buy an apartment in Lima?
The estimated total buyer closing costs for a typical apartment purchase in Lima range from S/ 20,000 to S/ 35,000 ($6,000 to $10,400 or €5,100 to €9,000) on a S/ 500,000 property, depending on whether you're buying new or resale.
The main categories of closing costs buyers must pay in Lima include Alcabala (transfer tax), notary fees for the public deed, SUNARP registry fees, document verification costs, and legal fees if you hire an attorney.
The single largest closing cost for apartment buyers in Lima is typically the Alcabala transfer tax, which is calculated as 3% of the sale value after deducting the first 10 UIT (approximately S/ 55,000 in 2026).
Some closing costs in Lima are negotiable or can vary, particularly notary fees which may be reduced for lower-value transactions, and legal fees which depend on the complexity of your purchase and whether you need bilingual documentation.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Lima?
Buyers should typically budget 4% to 5.5% of the purchase price for closing costs when buying a resale apartment in Lima, with the exact percentage decreasing slightly for higher-value properties since Alcabala has a fixed exempt threshold.
The realistic range for buyer closing costs in Lima spans from around 2% to 3.5% for new-build apartments (where full Alcabala often doesn't apply) up to 5.5% or more for older resale units in complex transactions requiring extensive legal work.
We actually cover all these costs and strategies to minimize them in our pack about the real estate 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 are the ongoing monthly and yearly costs of an apartment in Lima in 2026?
What are typical HOA fees in Lima right now?
HOA-style building charges, called "mantenimiento" in Lima, are very common in apartment buildings and typically range from S/ 250 to S/ 600 per month ($74 to $179 or €64 to €154) for standard mid-market buildings with basic common areas and security.
In premium Lima buildings with amenities like pools, gyms, rooftop terraces, and 24-hour security, monthly mantenimiento fees range from S/ 600 to over S/ 1,200 ($179 to $357 or €154 to €307), with some luxury towers in San Isidro or Miraflores charging even higher.
What utilities should I budget monthly in Lima right now?
The estimated total monthly utility cost for a typical apartment in Lima is approximately S/ 250 to S/ 400 ($74 to $119 or €64 to €102), covering electricity, water, internet, and basic services.
This range can vary from around S/ 200 per month for a small studio with minimal usage to over S/ 500 per month for a large three-bedroom apartment with high electricity consumption.
Typical monthly utilities in Lima include electricity (S/ 80 to S/ 180), home internet (S/ 80 to S/ 160), and water/sewer (S/ 40 to S/ 120), with gas being less common since many Lima buildings use electric cooking.
Electricity tends to be the most expensive utility for Lima apartment owners, especially if you use electric water heaters or occasional heating during Lima's cool, humid winter months from June to October.
How much is property tax on apartments in Lima?
The estimated typical annual property tax (Impuesto Predial) for an apartment in Lima ranges from S/ 500 to S/ 3,000 ($149 to $893 or €128 to €768), depending heavily on the municipality's assessed value of your property.
Lima's property tax uses a progressive rate structure of 0.2% to 1.0% applied to the "autoavalúo" (municipal assessed value), which is typically 60% to 80% of market value, making effective tax rates quite low compared to many countries.
For a mid-market apartment worth S/ 500,000 at purchase, your annual Impuesto Predial might be S/ 800 to S/ 1,500 ($238 to $446 or €205 to €384), plus additional Arbitrios (municipal service fees) of S/ 600 to S/ 2,000 per year.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Lima.
What's the yearly building maintenance cost in Lima?
The estimated typical yearly building maintenance cost for apartment owners in Lima is S/ 3,000 to S/ 7,200 ($893 to $2,143 or €768 to €1,843) for standard buildings, based on monthly mantenimiento fees of S/ 250 to S/ 600.
In premium Lima buildings with extensive amenities, yearly maintenance costs can reach S/ 7,200 to S/ 14,400 ($2,143 to $4,286 or €1,843 to €3,686) or even higher for luxury towers.
These building maintenance costs in Lima typically cover common area cleaning, elevator maintenance, security personnel, lighting for shared spaces, building insurance, and reserve funds for future repairs.
In Lima, building maintenance (mantenimiento) essentially functions as the HOA fee, so these costs are not separate charges but rather the same monthly obligation paid to the building administration.
How much does home insurance cost in Lima?
The estimated typical annual home insurance cost for an apartment in Lima ranges from S/ 400 to S/ 1,200 ($119 to $357 or €102 to €307), depending on coverage level and whether you include enhanced earthquake protection.
Basic contents and structure coverage in Lima starts around S/ 400 to S/ 700 per year, while comprehensive policies with stronger earthquake coverage (important in seismically active Peru) can reach S/ 1,000 to S/ 1,500 annually.
Home insurance is not legally mandatory for apartment owners in Lima, but it becomes practically required if you finance your purchase through a bank, which will insist on coverage to protect their collateral.
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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 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) - Q3 2025 Real Estate Indicator | Peru's central bank publishes official market indicators tracking apartment prices across Lima's main districts. | We used this as our primary anchor for price per m² across Lima's reference districts. We also relied on its methodology to set realistic expectations about asking vs final prices. |
| BCRP Methodology Note (Urbania data explanation) | This official BCRP publication explains exactly how the price index is built and its limitations. | We used it to clarify that price figures represent asking prices from listings, not notarized transaction prices. We also used it to justify triangulating with multiple sources. |
| BCRP Exchange Rate Database | This is the central bank's own official exchange rate data. | We used the December 2025 monthly average (1 USD = S/ 3.36) to convert all Lima prices from soles to dollars consistently throughout this article. |
| La República (Urbania district data) | A major Peruvian newspaper reporting Urbania's dataset with detailed district-by-district price tables. | We used it to estimate citywide Lima price levels and provide real district names with actual price-per-m² examples. We cross-checked these against BCRP's indicator districts. |
| SAT Lima - Alcabala Tax Guide | SAT is Lima's official tax authority and publishes the calculation formula in plain terms. | We used it to estimate the biggest buyer closing cost on resales (3% after deducting 10 UIT). We also used it to explain why new-build taxes differ from resale taxes. |
| Peru Government - Alcabala Guidance | Official government guidance page that includes key exceptions clearly explained. | We used it to explain why new apartments from developers typically avoid full Alcabala. We used this to build separate new vs resale all-in budget estimates. |
| SAT Lima - Predial and Arbitrios FAQ | SAT is the official administrator for these municipal property charges in Lima. | We used it to explain the ongoing annual property tax and service charges you'll face after buying. We used it to keep our ongoing costs section grounded in Lima's actual system. |
| Peru Municipal Taxation Law (TUO) | This is the underlying legal text governing municipal property taxes and transfer taxes. | We used it to validate the structure of Predial and Alcabala rules at the source. We used it as a cross-check so we're not relying only on summaries. |
| OSINERGMIN - Electricity Tariff Table (January 2026) | OSINERGMIN is Peru's energy regulator and publishes the official residential tariff schedule. | We used it to estimate realistic monthly electricity bills using regulated BT5B rates. We converted those unit tariffs into a simple budget range for apartments. |
| Luz del Sur - January 2026 Tariffs | One of Lima's main electricity distributors publishing its regulated tariff document. | We used it as a cross-check that Lima electricity costs are consistent across distributors. We used it to avoid single-source estimates for utilities. |
| OSIPTEL - Checa tu Plan | OSIPTEL is Peru's telecom regulator and this is their official price comparison platform. | We used it to set a realistic range for home internet plans in Lima without cherry-picking one operator. We used it to build the monthly utilities budget with verifiable reference points. |
| Fondo MiVivienda | Peru's government-linked housing finance institution that sets formal program rules. | We used it to anchor what low down payments look like in Peru for eligible buyers. We then contrasted that with what foreign buyers typically face at banks. |
| BBVA Peru - Mortgage Products | A major Peruvian bank publicly stating financing terms used as market benchmarks. | We used it to anchor best-case financing scenarios. We then adjusted expectations for foreigners by adding common underwriting constraints. |
| Global Property Guide Peru | An international property research platform tracking Peru's residential market over time. | We used it for historical price trends, rental yield benchmarks, and ownership cost comparisons. We cross-referenced their data against official Peruvian sources. |
| FazWaz Peru | A property listing platform with active Lima inventory showing real asking prices and building details. | We used it to verify typical apartment sizes by bedroom count. We also checked current listing prices to validate our calculated ranges. |
| NVC Abogados - Foreign Buyer Guide | A Peruvian law firm specializing in real estate transactions for foreign buyers. | We used their transaction cost breakdown to estimate notary, registry, and legal fees. We also verified the purchase process steps for foreigners. |
| Global Property Guide - Peru Taxes | Provides detailed breakdown of property taxation for international investors. | We used it to verify UIT values, tax rates, and non-resident tax treatment. We cross-checked their figures against official Peruvian government sources. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Peru. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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