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 a foreigner thinking about buying property in Lima, you probably have a lot of questions about what you can actually own, what restrictions apply, and how the whole process works.
This guide covers everything from legal ownership rights and visa requirements to mortgages, taxes, and the step-by-step buying process in Lima as of the first half of 2026.
We constantly update this blog post to reflect the latest regulations, costs, and market conditions in Lima's real estate market.
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
- Foreigners in Lima can own apartments, houses, and land in their own name with no special permits required, which is more flexible than many Latin American countries.
- The famous border-zone restriction in Peru does not affect Lima at all since the city is located far from any international borders.
- Closing costs for resale properties in Lima typically range from 4.5% to 6.5% of the purchase price, while new builds from developers often come in lower at 2% to 4%.
- Property registration with SUNARP is what makes you the legal owner in Peru, not just signing a contract, so never skip this step or pay the full price before registration.
- The 2026 tax unit (UIT) in Peru is set at 5,500 soles, which means the first 55,000 soles of a property purchase is exempt from the 3% transfer tax called alcabala.
- Annual property tax in Lima uses progressive brackets of 0.2%, 0.6%, and 1.0% based on the assessed value, so a mid-range apartment might cost between 2,000 and 6,000 soles per year.
- Mortgage rates for foreigners in Lima in 2026 typically range from 7.5% to 9.5% in soles and 7% to 9% in US dollars, with non-residents usually paying toward the higher end.
- Buying property in Lima does not automatically grant you residency or citizenship in Peru, as the investor visa pathway requires active business investment rather than just real estate ownership.
- If you rent out your Lima property as a non-resident, your tenant is legally required to withhold and pay tax to SUNAT on your behalf.
- The Certificado Registral Inmobiliario (CRI) from SUNARP is the single most important document to request before paying anything, as it reveals the true owner, any liens, and pending legal issues.
What can I legally buy and truly own as a foreigner in Lima?
What property types can foreigners legally buy in Lima right now?
As a foreigner in Lima, you can legally buy apartments, houses, duplexes, penthouses, and townhomes inside gated condominiums, which covers essentially all mainstream residential property types available in the city.
The main legal condition that applies to foreign buyers in Peru is the border-zone restriction, but since Lima is nowhere near an international border, this rule simply does not affect purchases in the capital.
Your ownership becomes official and legally protected only when the property is properly registered with SUNARP, Peru's national public registry, so signing a private contract alone is not enough to secure your rights.
When you buy an apartment in Lima, you own your individual unit plus a proportional share of the building's common areas, while buying a house typically means you own both the land and the construction on it.
Finally, please note that our pack about the property market in Lima is specifically tailored to foreigners.
Can I own land in my own name in Lima right now?
Yes, as a foreigner you can own land in your own name in Lima without needing a local partner, a company structure, or any special government approval.
The restriction you may have heard about applies only to properties within 50 kilometers of Peru's international borders, which is completely irrelevant for Lima since the city is located in the central coast far from any border zone.
Land ownership in Lima most commonly comes into play when you buy a house, a townhome lot, or a ground-floor property with independent land registry, so you should always verify the exact land boundaries and description in the SUNARP records before paying anything.
As of 2026, what other key foreign-ownership rules or limits should I know in Lima?
As of early 2026, Lima does not impose foreign ownership quotas on residential buildings, meaning there is no rule limiting how many units in an apartment building can be owned by non-Peruvians.
Unlike some countries in Asia or the Caribbean, you will not encounter any "49% foreign cap" or mandatory local partner requirement when buying a condo in Lima.
There is no special government approval or foreign buyer registration required before purchasing residential property in Lima, though you will need valid identification documents to complete the notary and registry process.
As of early 2026, there are no major regulatory changes pending that would restrict foreign ownership in Lima, so the rules have remained stable and foreigner-friendly for residential purchases.
What's the biggest ownership mistake foreigners make in Lima right now?
The single biggest mistake foreigners make in Lima is paying a large deposit or even the full price for a property that is not cleanly registered in SUNARP, or without first checking the registry history.
If you skip this step, you could end up paying for a property that has existing liens, disputed ownership, or is simply not owned by the person selling it to you, and recovering your money can be extremely difficult.
Other classic pitfalls in Lima include not verifying that municipal taxes are paid up to date, not checking condominium bylaws for rental restrictions before buying an investment property, and relying on a listing description without confirming the actual registered boundaries and permitted uses.
We have made this infographic to give you a quick and clear snapshot of the property market in Peru. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which visa or residency status changes what I can do in Lima?
Do I need a specific visa to buy property in Lima right now?
In Lima, you do not need a specific visa to buy property, and you can legally purchase real estate even while visiting on a tourist visa as long as you can identify yourself and sign documents before a notary.
The most common administrative hurdle for buyers without local residency is opening a Peruvian bank account, which some banks require for the transaction or for setting up ongoing payments like utilities and maintenance fees.
A local tax ID (RUC) is not strictly required to complete a purchase, but it becomes important later if you want to rent out the property, file taxes, or access certain banking and utility services smoothly.
Foreign buyers in Lima typically need to present their passport, proof of funds, and sometimes an apostilled power of attorney if they cannot be physically present for all signing steps.
Does buying property help me get residency and citizenship in Lima in 2026?
As of early 2026, buying residential property in Lima does not automatically grant you residency or create a direct path to citizenship, because Peru's immigration system is not structured as a "golden visa" program tied to real estate purchases.
Peru does have an investor residency category, but it is designed around active business investment and operating a lawful enterprise, not simply buying a home or apartment for personal use.
If your goal is permanent residency or citizenship in Peru, the most common pathways include family ties to a Peruvian citizen, work authorization through an employer, or establishing a business that meets the investment thresholds set by Migraciones.
We give you all the details you need about the different pathways to get residency and citizenship in Lima here.
Can I legally rent out property on my visa in Lima right now?
Your visa status does not prevent you from owning and renting out property in Lima, since ownership and rental rights are separate from your immigration status in Peru.
You do not need to live in Peru to rent out your Lima property, and many foreign owners manage their rentals remotely through local property managers or real estate agents.
The key detail foreigners must understand is that if you are classified as "no domiciliado" (non-resident for tax purposes), your tenant or a local payer is legally required to withhold tax from your rental income and pay it directly to SUNAT on your behalf.
We cover everything there is to know about buying and renting out in Lima here.
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How does the buying process actually work step-by-step in Lima?
What are the exact steps to buy property in Lima right now?
The standard sequence to buy property in Lima goes like this: agree on price and terms, run due diligence through SUNARP, verify municipal taxes are current, sign the purchase agreement (minuta), formalize before a notary into a public deed (Escritura Pública), pay the transfer tax (alcabala), and finally register the transfer with SUNARP.
You can complete most of the process without being physically present in Lima if you set up a proper power of attorney, but most individual buyers prefer to be there at least for the final signing and any banking steps.
The step that makes the deal legally binding in Lima is typically the signing of the Escritura Pública before the notary, which formalizes the agreement and prepares it for registration.
From accepted offer to final SUNARP registration, the typical timeline in Lima ranges from about 4 to 8 weeks, though it can stretch longer if there are documentation issues or if the seller has outstanding municipal debts to clear.
We have a document entirely dedicated to the whole buying process our pack about properties in Lima.
Is it mandatory to get a lawyer or a notary to buy a property in Lima right now?
A notary is effectively mandatory in Lima because the public deed (Escritura Pública) that enables registration with SUNARP must be executed before a notary, while hiring a lawyer is not legally required but strongly recommended for foreigners.
The key difference is that a notary in Lima verifies identities, witnesses signatures, and formalizes documents for public record, while a lawyer reviews the contract terms, conducts due diligence, and protects your interests throughout the negotiation.
One key item that should be in your lawyer's scope is a thorough review of the SUNARP registry records (Partida Registral and CRI) to confirm clean title, no liens, and that the seller is actually authorized to sell.
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 checks should I run so I don't buy a problem property in Lima?
How do I verify title and ownership history in Lima right now?
The official registry you should use to verify title and ownership history in Lima is SUNARP (Superintendencia Nacional de los Registros Públicos), which maintains all property records for Peru.
The key document to request is the Certificado Registral Inmobiliario (CRI), which SUNARP specifically designed as a "buy safely" certificate that shows the current owner, property boundaries, and any registered burdens or pending titles.
A realistic look-back period for ownership history checks in Lima is at least 10 to 20 years, which helps you identify any irregular transfers, inheritance disputes, or gaps in the chain of title.
One clear red flag that should stop or pause your purchase is finding a mismatch between the seller's name and the registered owner, or discovering ongoing litigation or a judicial block (anotación preventiva) on the property.
You will find here the list of classic mistakes people make when buying a property in Lima.
How do I confirm there are no liens in Lima right now?
The standard way to confirm there are no liens or encumbrances on a property in Lima is to request a Certificado de Cargas y Gravámenes from SUNARP, which lists any mortgages, judicial blocks, or legal burdens registered against the property.
One common type of lien you should specifically ask about is unpaid municipal taxes (predial and arbitrios), since these can follow the property and become your responsibility after purchase even if they were the seller's debt.
The best written proof of lien status in Lima is the combination of the Certificado de Cargas y Gravámenes and the CRI, both issued by SUNARP, which together give you the most complete picture of what is registered against the property.
How do I check zoning and permitted use in Lima right now?
The authority to check zoning and permitted use in Lima is the municipal government where the property is located, with the Municipalidad Metropolitana de Lima handling properties in Lima Cercado and the Instituto Metropolitano de Planificación (IMP) providing citywide zoning maps.
The document that confirms zoning classification is the Certificado de Parámetros Urbanísticos y Edificatorios, which you can request from the relevant municipality and which specifies what construction and uses are permitted on a specific lot.
A common zoning pitfall foreign buyers miss in Lima is assuming a residential property can be used for short-term rentals or commercial purposes without checking, especially in heritage districts like Barranco or strictly controlled areas like Miraflores and San Isidro where renovation and use restrictions can be significant.
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.
Can I get a mortgage as a foreigner in Lima, and on what terms?
Do banks lend to foreigners for homes in Lima in 2026?
As of early 2026, yes, banks in Lima do lend to foreigners for home purchases, though the approval process typically requires stronger documentation and larger down payments compared to what Peruvian citizens need.
Foreign borrowers in Lima commonly see loan-to-value (LTV) ratios ranging from 60% to 80%, meaning you should expect to put down at least 20% to 40% of the purchase price as a down payment.
The most common eligibility requirement that determines whether a foreigner qualifies is having stable, documentable income, ideally with some Peruvian footprint such as local employment or business activity, though some banks will consider foreign income with additional verification.
You can also read our latest update about mortgage and interest rates in Peru.
Which banks are most foreigner-friendly in Lima in 2026?
As of early 2026, the most foreigner-friendly banks for mortgages in Lima are BBVA Peru, Scotiabank Peru, and BCP, all of which have established mortgage operations and experience working with international buyers.
What makes these banks more foreigner-friendly is that they have standardized mortgage products, English-speaking staff in some branches, and documented processes for evaluating foreign income and credit history.
These banks can sometimes lend to non-residents, but approval typically requires a larger down payment, extensive income documentation, and in some cases a local guarantor or significant assets held in Peru.
We actually have a specific document about how to get a mortgage as a foreigner in our pack covering real estate in Lima.
What mortgage rates are foreigners offered in Lima in 2026?
As of early 2026, foreigners in Lima are typically offered mortgage rates ranging from about 7.5% to 9.5% annually for loans in Peruvian soles, and approximately 7% to 9% for US dollar loans, with non-residents and those without local credit history usually landing toward the higher end of these ranges.
Fixed-rate mortgages in Lima tend to carry slightly higher interest rates than variable-rate options, with the premium typically around 0.5 to 1 percentage point, though fixed rates offer predictability that many foreign buyers prefer.
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 will taxes, fees, and ongoing costs look like in Lima?
What are the total closing costs as a percent in Lima in 2026?
The typical total closing cost for buyers in Lima in 2026 is approximately 4% to 6% of the purchase price for most standard transactions.
For resale properties, expect closing costs to range from about 4.5% to 6.5%, while new builds purchased directly from a developer often come in lower at 2% to 4% because the transfer tax (alcabala) may not apply to the building portion.
The specific fee categories that make up closing costs in Lima include the alcabala transfer tax (3% of the taxable base minus the first 55,000 soles exemption), notary fees, SUNARP registration fees, and legal fees if you hire a lawyer.
The single biggest contributor to closing costs in Lima is usually the alcabala transfer tax, which at 3% of the value above the exemption threshold can easily represent half or more of your total closing costs on a resale property.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Lima.
What annual property tax should I budget in Lima in 2026?
As of early 2026, the typical annual property tax (Impuesto Predial) budget for a mid-range apartment or house in Lima ranges from about 2,000 to 6,000 soles per year (roughly 500 to 1,600 USD or 450 to 1,450 EUR), depending on the assessed value, plus additional municipal service charges called arbitrios that vary by district.
Property tax in Lima is assessed using progressive brackets based on the property's autovaluo (assessed value): 0.2% on the first 15 UIT (82,500 soles in 2026), 0.6% on value between 15 and 60 UIT, and 1.0% on value above 60 UIT.
How is rental income taxed for foreigners in Lima in 2026?
As of early 2026, the effective tax rate on rental income for foreigners classified as non-domiciled in Peru is typically around 5% of gross rent for first-category income, though the exact structure depends on how payments are handled.
The basic requirement foreign owners must follow is that when you are non-domiciled and receive rent from a property in Lima, your tenant (if they are domiciled in Peru) is legally obligated to withhold the tax and pay it directly to SUNAT on your behalf through their system.
What insurance is common and how much in Lima in 2026?
As of early 2026, typical annual insurance premiums for a standard home policy in Lima range from about 0.1% to 0.3% of the insured value, which works out to roughly 200 to 800 USD (180 to 720 EUR or 750 to 3,000 soles) per year for many mid-market apartments.
The most common type of property insurance coverage that owners carry in Lima is a combined policy covering fire and additional perils, with earthquake coverage being a particularly important discussion point given Peru's seismic activity.
The biggest factor that makes insurance premiums higher or lower in Lima is the level of earthquake coverage you choose, since comprehensive seismic protection significantly increases the cost compared to basic fire-only policies.
Get the full checklist for your due diligence in Lima
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
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 |
|---|---|---|
| Peru Ministry of Justice (MINJUSDH) | Official government publication of Peru's Constitution. | We used it to establish the baseline rule that foreigners can own property and to explain the border-zone restriction. This is our top legal anchor for ownership rights. |
| SPIJ Legal Database (MINJUS) | Official legal repository under Peru's justice framework. | We used it to cross-check that the constitutional text is stable and consistently published. We relied on it to confirm the legal wording has not been altered. |
| SUNARP Registration Guide | SUNARP is Peru's national authority for property registration. | We used it to explain what actually proves ownership in Peru (registration, not just contracts). We structured the step-by-step buying flow around this registry reality. |
| SUNARP CRI Procedure | Official government page describing the key pre-purchase certificate. | We used it to define the single best anti-scam document foreigners should request before paying anything. We also used it to list what the CRI reveals. |
| SUNARP Lien Certificate Guide | SUNARP's official explanatory page for lien certificates. | We used it to explain how Peru documents liens and legal burdens. We also used it for practical details on what information you need to request it. |
| SAT Lima Alcabala Tax | SAT Lima is the official tax administrator for key municipal taxes. | We used it to calculate closing costs and explain the 3% rate, the 10 UIT exemption, and the first-sale-by-constructor rule. This is the definitive source for alcabala mechanics. |
| SAT Lima Property Tax | Official explainer for property tax computation in Lima. | We used it to give exact bracket rates (0.2%, 0.6%, 1.0%) and explain who pays and when. We also used it to build realistic annual budget estimates. |
| Peru MEF UIT Value 2026 | MEF sets the UIT which drives tax thresholds across Peru. | We used it to convert "10 UIT" and property-tax brackets into real money for January 2026. We also used it to keep all estimates internally consistent. |
| SUNAT Rental Income Guide | SUNAT is Peru's national tax authority with practical guidance. | We used it to explain how rental income is handled when the owner is non-domiciled. We used it as the anchor for rental-tax treatment. |
| Migraciones Investor Residency | Official immigration authority describing the investor pathway. | We used it to clarify what does and does not exist as residency-by-investment. We also used it to avoid claiming property purchase alone grants residency. |
| SBS Interest Rate Statistics | SBS is Peru's financial system regulator with clean benchmark data. | We used it to anchor mortgage-rate estimates to official time series data. We used it to keep typical rates realistic for January 2026. |
| Municipality of Lima Parameters Certificate | Municipal authority explaining official zoning certificates. | We used it to show how to verify permitted use and building parameters. We also used it to explain zoning risk in Lima Cercado. |
| IMP Zoning Maps | IMP is the official planning body for Lima Metropolitana zoning. | We used it to show where zoning can be checked at city scale. We relied on it to make zoning verification practical for buyers. |
| BBVA Peru Mortgage Products | Major bank with standardized mortgage operations in Lima. | We used it to identify foreigner-accessible mortgage products and verify current lending availability. We combined it with SBS data for realistic rate ranges. |
| Scotiabank Peru Mortgages | International bank with established mortgage operations in Peru. | We used it to confirm product structures and foreigner eligibility. We relied on it alongside other major banks to identify foreigner-friendly options. |
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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