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
Buying property in Lima as a foreigner comes with extra costs beyond the purchase price, and knowing these fees upfront will help you budget properly.
This guide breaks down every tax, fee, and hidden cost you might face when purchasing residential real estate in Lima in 2026.
We constantly update this blog post to reflect the latest regulations and market conditions in Lima's property 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.
Overall, how much extra should I budget on top of the purchase price in Lima in 2026?
How much are total buyer closing costs in Lima in 2026?
As of early 2026, total buyer closing costs in Lima typically range from 3% to 5% of the purchase price, which means on a S/ 500,000 property (around $135,000 USD or €125,000 EUR) you should expect to pay roughly S/ 15,000 to S/ 25,000 in extra fees.
If you keep expenses to the bare legal minimum in Lima, your closing costs could be as low as 1% to 2% of the price, or about S/ 5,000 to S/ 10,000 ($1,350 to $2,700 USD or €1,250 to €2,500 EUR) on a mid-range property.
However, if you want a safe "no surprises" budget that accounts for all potential fees in Lima, you should plan for 6% to 8% of the purchase price, which could mean S/ 30,000 to S/ 40,000 ($8,100 to $10,800 USD or €7,500 to €10,000 EUR) on that same property.
The main factors that determine where your Lima closing costs fall within this range include whether you are buying a new-build from a constructor (which changes the Alcabala tax calculation), the property's price relative to the 10 UIT deduction threshold (S/ 55,000 in 2026), how much independent legal due diligence you choose to do, and whether you need translation services.
What's the usual total % of fees and taxes over the purchase price in Lima?
Most individual foreign buyers purchasing residential property in Lima should assume a usual total of 3% to 5% in fees and taxes over the purchase price.
The realistic range that covers most standard property transactions in Lima spans from about 1% at the very low end (small properties, minimal services) to around 8% at the high end (high-value resales with comprehensive legal support).
Within that total, government taxes (mainly the Alcabala transfer tax) typically account for about 2% to 3%, while professional service fees (notary, lawyer, SUNARP registration) make up the remaining 1% to 2%.
By the way, you will find much more detailed data in our property pack covering the real estate market in Lima.
What costs are always mandatory when buying in Lima in 2026?
As of early 2026, the mandatory costs when buying property in Lima include the Alcabala transfer tax (when applicable), notary fees for formalizing the public deed, and SUNARP registration fees to legally record your ownership.
While not legally required, costs that are highly recommended for buyers in Lima include independent lawyer due diligence (to verify the title chain, liens, and permits), official translation services if you are not fluent in Spanish, and a professional property valuation especially in prime districts like Miraflores or San Isidro.
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What taxes do I pay when buying a property in Lima in 2026?
What is the property transfer tax rate in Lima in 2026?
As of early 2026, the property transfer tax in Lima (called Alcabala) is 3% of the property's taxable value, but the first 10 UIT (S/ 55,000 or about $14,900 USD or €13,750 EUR) is deducted from the taxable base before calculating.
There are no extra transfer taxes specifically for foreigners buying property in Lima, as the Alcabala rules apply the same 3% rate structure to all buyers regardless of nationality.
Buyers in Lima pay VAT (called IGV at 18%) only when purchasing a new-build property directly from the constructor as a "first sale," and in that case the IGV applies only to the construction value, not the land.
Peru does not have a separate stamp duty for property transfers like some countries do, as the Alcabala is the main purchase-side tax that functions similarly.
Are there tax exemptions or reduced rates for first-time buyers in Lima?
Peru does not offer a specific first-time buyer tax exemption, but all buyers in Lima benefit from the universal 10 UIT deduction (S/ 55,000 in 2026) that reduces the Alcabala taxable base regardless of buyer status.
If you buy property through a company in Lima, the Alcabala still applies to the transfer, but the bigger differences appear later in income tax treatment for rental income, depreciation deductions, and eventual capital gains.
There is a meaningful tax difference between new-build and resale properties in Lima: when buying a new-build from a constructor, the Alcabala applies only to the land value portion, while IGV may apply to the construction value instead.
Since Peru's main relief is the automatic 10 UIT deduction rather than a first-time buyer program, there is no special documentation required to qualify beyond the standard purchase paperwork.
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 professional fees will I pay as a buyer in Lima in 2026?
How much does a notary or conveyancing lawyer cost in Lima in 2026?
As of early 2026, notary fees for formalizing a property deed in Lima typically run 0.3% to 0.8% of the property price, while an independent lawyer for due diligence costs around S/ 2,500 to S/ 12,000 ($675 to $3,250 USD or €625 to €3,000 EUR) depending on complexity.
Notary and lawyer fees in Lima are usually charged as a combination of a percentage of the property value for standard services plus fixed fees for specific tasks like document review or registration assistance.
Translation or interpreter services for foreign buyers in Lima typically cost S/ 500 to S/ 2,000 ($135 to $540 USD or €125 to €500 EUR) for a straightforward transaction, which is one of the cheapest ways to avoid misunderstandings when signing contracts.
A tax advisor in Lima is optional for simple personal purchases but recommended if you plan to rent out the property, and typically costs S/ 800 to S/ 3,000 ($215 to $810 USD or €200 to €750 EUR) for a one-off consultation.
We have a whole part dedicated to these topics in our our real estate pack about Lima.
What's the typical real estate agent fee in Lima in 2026?
As of early 2026, real estate agent fees in Lima typically range from 1% to 3% of the property price, though the exact amount is negotiable and varies by agency and property type.
In many Lima residential transactions, the seller pays the brokerage commission, but arrangements vary and buyers may pay if they hire a dedicated buyer's agent to source properties and negotiate on their behalf.
The realistic range for agent fees in Lima spans from about 1% for straightforward deals to 3% or more for complex transactions or when using premium agencies in districts like Miraflores or San Isidro.
How much do legal checks cost (title, liens, permits) in Lima?
Legal checks including title search, liens verification, and permits review in Lima typically cost S/ 1,500 to S/ 6,000 ($405 to $1,620 USD or €375 to €1,500 EUR), with higher fees for properties with complex histories like inherited homes or older buildings with renovations.
Property valuation fees in Lima run about S/ 800 to S/ 2,500 ($215 to $675 USD or €200 to €625 EUR) for a standard apartment or house, and this is often required if you are financing the purchase through a bank.
The most critical legal check that should never be skipped in Lima is verifying the title chain and current registration status at SUNARP, because unregistered ownership or hidden liens can leave you without legal protection even after paying.
Buying a property with hidden issues is something we mention in our list of risks and pitfalls people face when buying real estate in Lima.
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What hidden or surprise costs should I watch for in Lima right now?
What are the most common unexpected fees buyers discover in Lima?
The most common unexpected fees buyers discover in Lima include Alcabala calculated on a higher value than expected (due to autovaluo rules), SUNARP registration "liquidation differences" where final fees exceed the initial payment, unpaid municipal taxes that block the transfer, and last-minute translation or legalization requirements from banks or notaries.
Yes, there are unpaid property taxes and debts you could inherit when purchasing in Lima, particularly outstanding Impuesto Predial (annual property tax) and arbitrios (municipal service fees) that attach to the property and can complicate your registration.
Scams with fake listings or fake fees do occur in Lima, and the best protection is to insist that your transaction follows the proper sequence of notarial deed plus SUNARP registration, never paying large sums before you have a registrable document.
Fees that are usually not disclosed upfront in Lima include small SUNARP and notary administrative charges (copies, certificates, filings), building-related one-offs like move-in deposits or elevator padding fees in apartment buildings, and currency exchange costs if transferring funds from abroad.
In our property pack covering the property buying process in Lima, we go into details so you can avoid these pitfalls.
Are there extra fees if the property has a tenant in Lima?
If the property has a tenant in Lima, you should budget an extra S/ 1,000 to S/ 5,000 ($270 to $1,350 USD or €250 to €1,250 EUR) in legal and administrative costs for tenant notification, lease contract review, and deposit accounting.
When you purchase a tenanted property in Lima, you inherit the existing lease agreement and must honor its terms, including the rent amount, duration, and any tenant rights established in the contract.
Terminating an existing lease immediately after purchase in Lima is generally not possible unless the lease includes a sale termination clause or has already expired, as Peruvian law protects tenants' rights to complete their contracted term.
A sitting tenant typically affects the property's market value in Lima by reducing the buyer pool (since investors may accept it but owner-occupiers usually will not), which can give you negotiating leverage for a lower price but adds complexity to the transaction.
If you want to optimize your rental strategy, you can read our complete guide on how to buy and rent out in Lima.
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 fees are negotiable, and who really pays what in Lima?
Which closing costs are negotiable in Lima right now?
The closing costs that are most negotiable in Lima include lawyer fee scope (basic versus comprehensive due diligence), real estate agent commission (especially if any portion falls on the buyer), and some notary service components where shopping around different notaries can yield savings.
The closing costs that are fixed by law and cannot be negotiated in Lima include the Alcabala tax rate structure (3% with the 10 UIT deduction) and core SUNARP registration rights which are computed according to official tariffs based on the property value.
Buyers in Lima can typically achieve a 10% to 20% reduction on negotiable fees like legal services by comparing quotes from multiple providers or bundling services with a single law firm.
Can I ask the seller to cover some closing costs in Lima?
The likelihood that a seller will agree to cover some closing costs in Lima depends heavily on market conditions and how motivated the seller is, with distressed sellers or stale listings being much more open to such arrangements.
The specific closing costs sellers are most commonly willing to cover in Lima include notary fees, certain administrative costs, or adjusting the price to offset buyer expenses, though the Alcabala is legally the buyer's responsibility and cannot be formally reassigned.
Sellers in Lima are more likely to accept covering closing costs when the property has been on the market for several months, when they need a quick sale, or in buyer-friendly market conditions where inventory exceeds demand.
Is price bargaining common in Lima in 2026?
As of early 2026, price bargaining is common in Lima and considered a normal part of the property buying process, though the amount of flexibility varies significantly by district and how well the property is priced.
Buyers in Lima typically negotiate 3% to 8% below the asking price (S/ 15,000 to S/ 80,000 on a S/ 1 million property, or roughly $4,000 to $21,600 USD or €3,750 to €20,000 EUR), with larger discounts possible on overpriced listings or when sellers are motivated to close quickly.
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What monthly, quarterly or annual costs will I pay as an owner in Lima?
What's the realistic monthly owner budget in Lima right now?
A realistic monthly owner budget in Lima (excluding any mortgage payment) ranges from S/ 600 to S/ 3,500 ($160 to $945 USD or €150 to €875 EUR) depending on the district and building type.
The main recurring expense categories that make up this monthly budget in Lima include Impuesto Predial (annual property tax spread monthly), arbitrios municipales (district service fees for security, cleaning, and parks), building maintenance or HOA-like fees for apartments, and optional property insurance.
The realistic range for monthly owner costs in Lima spans from about S/ 600 to S/ 1,800 ($160 to $485 USD or €150 to €450 EUR) in mid-range districts like Surco or Jesus Maria, up to S/ 1,200 to S/ 3,500 ($325 to $945 USD or €300 to €875 EUR) in prime districts like Miraflores or San Isidro with full-service buildings.
The monthly cost that tends to vary the most in Lima is the building maintenance fee, which can range from almost nothing in a small older building to over S/ 1,500 per month in luxury high-rises with amenities like pools, gyms, and 24-hour security.
You can see how this budget affect your gross and rental yields in Lima here.
What is the annual property tax amount in Lima in 2026?
As of early 2026, Lima's annual property tax (Impuesto Predial) is calculated on a progressive scale: 0.2% on the first 15 UIT (S/ 82,500) of assessed value, 0.6% on the portion between 15 and 60 UIT (S/ 82,500 to S/ 330,000), and 1.0% on anything above 60 UIT.
The realistic range for annual property taxes in Lima spans from about S/ 500 ($135 USD or €125 EUR) for a modest apartment to S/ 5,000 or more ($1,350 USD or €1,250 EUR) for a high-value property in a premium district, based on the property's autovaluo (assessed value).
Property tax in Lima is calculated based on the autovaluo, which is an assessed value determined by the municipality using factors like location, construction type, and land area, not the market price you actually paid.
Some exemptions and reductions are available in Lima, including discounts for pensioners and disabled persons, though these vary by municipality and typically require application and documentation.
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.
If I rent it out, what extra taxes and fees apply in Lima in 2026?
What tax rate applies to rental income in Lima in 2026?
As of early 2026, the rental income tax rate for individuals in Lima is 5% of the monthly rent, classified as "first category income" (Renta de Primera Categoria) under Peru's tax system.
Under the standard individual rental regime in Lima, the 5% tax is calculated directly on the rental amount without itemized expense deductions, though more complex tax structures with deductibility are available if you operate rentals through a business entity.
The realistic effective tax rate for typical landlords in Lima remains close to the headline 5%, since the simplified individual regime does not allow for significant deductions to reduce the taxable base.
Foreign property owners pay the same 5% rental income tax rate as Peruvian residents when renting out property in Lima, with no additional surcharges specifically for non-residents.
Do I pay tax on short-term rentals in Lima in 2026?
As of early 2026, short-term rental income in Lima (such as Airbnb rentals) is taxable and can trigger additional compliance requirements including invoicing rules and potential business registration if you operate it commercially.
Short-term rental income may be taxed differently than long-term rentals in Lima depending on how the activity is characterized, with regular Airbnb-style operations potentially being treated as business income rather than simple first-category rental income, which means different filing and rate rules may apply.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Lima.
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If I sell later, what taxes and fees will I pay in Lima in 2026?
What's the total cost of selling as a % of price in Lima in 2026?
As of early 2026, the total cost of selling a property in Lima typically ranges from 3% to 6% of the sale price, depending on the agent commission you pay and whether capital gains tax applies to your situation.
The realistic range for total selling costs in Lima spans from about 2% at the low end (if you sell without an agent and no taxable gain) to 8% or more at the high end (if you pay a full agent commission, have legal cleanup costs, and owe capital gains tax).
The specific cost categories that typically make up the total selling expenses in Lima include real estate agent commission (often the largest item), notary and legal fees, potential capital gains tax, and administrative costs for certificates and documentation.
The single cost that is usually the largest contributor to selling expenses in Lima is the real estate agent commission, which commonly runs 2% to 4% of the sale price when the seller pays.
What capital gains tax applies when selling in Lima in 2026?
As of early 2026, individuals selling property in Lima pay a capital gains tax of 5% on the profit (sale price minus original purchase cost), classified as "second category income" under Peru's tax system.
Exemptions to capital gains tax are available in Lima, and SUNAT guidance notes there are situations where sellers are not obligated to pay, typically related to the property's use as a primary residence or other qualifying conditions.
Foreigners do not pay extra taxes or a different capital gains rate when selling property in Lima, as the same 5% rate on gains applies to all individual sellers regardless of nationality.
The capital gain in Lima is calculated as the sale price minus your documented purchase cost (and eligible improvements), which is why keeping proper records of your original purchase and any renovation expenses is essential for minimizing your tax liability.
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 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 |
|---|---|---|
| Ministry of Finance (MEF) | Peru's finance ministry publishes the official UIT value. | We used this to confirm the 2026 UIT at S/ 5,500. This let us calculate all UIT-based thresholds in soles. |
| Municipal Tax Law (D. Leg. 776) | This is the governing national law for property taxes. | We used it to confirm Alcabala is 3% with the 10 UIT deduction. We also sourced the Impuesto Predial progressive rate brackets from this law. |
| SAT Lima | SAT is Lima's official municipal tax administrator. | We used it to verify how Alcabala works in practice. This helped us explain that buyers pay and what timing to expect. |
| SUNARP | Peru's national public registry for property rights. | We used it to list registration requirements and fee structures. This justified our registration cost estimates. |
| SUNAT (IGV Guidance) | SUNAT is Peru's national tax authority. | We used it to confirm IGV applies to first sales by constructors. This helped explain when VAT shows up in residential deals. |
| SUNAT (Rental Income) | Official SUNAT guidance on the state platform. | We used it to confirm the 5% rental income tax rate. This built our "if I rent it out" section. |
| SUNAT (Capital Gains) | SUNAT guidance on property sale taxes. | We used it to confirm the 5% capital gains tax on property sales. This anchored our "if I sell later" section. |
| PwC Peru Tax Summaries | Major global tax publisher with updated country data. | We used it to cross-check VAT and general tax rates. This served as a sanity check against government sources. |
| Global Property Guide | International property research publisher with transaction data. | We used it to benchmark transaction cost percentages. This ensured our ranges matched regional norms. |
| Miraflores Municipality | Official district government for a major Lima area. | We used it to understand arbitrios (municipal service fees). This helped us estimate monthly ownership costs in prime districts. |
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