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 are thinking about buying an apartment in Lima to rent it out, understanding rental yields is essential before you commit your money.
This guide breaks down exactly what gross and net yields you can expect in Lima in 2026, which neighborhoods and apartment types perform best, and what costs will eat into your profits.
We constantly update this blog post with fresh data so you always have the latest picture of Lima's rental 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.
What rental yields can I realistically get from an apartment in Lima?
What's the average gross rental yield for apartments in Lima as of 2026?
As of early 2026, the average gross rental yield for apartments in Lima's main investment districts sits around 6% per year, which means if you buy an apartment for $160,000, you can expect roughly $9,600 in annual rent before expenses.
Most apartment investments in Lima fall within a realistic gross yield range of 5.5% to 7%, with "high yield" pockets reaching up to 7.5% and prime coastal areas closer to 5% to 5.5%.
The main factor causing yield variation in Lima is district selection, because the price-to-rent ratio differs dramatically between neighborhoods like Lince (where prices are moderate but rents stay strong due to young professional demand) versus San Isidro (where high purchase prices compress yields despite premium rents).
Compared to other Latin American capitals, Lima's gross yields are competitive with cities like Bogota and Santiago, and slightly higher than Buenos Aires in USD terms, making Lima a solid middle-ground option for regional property investors.
What's the average net rental yield for apartments in Lima as of 2026?
As of early 2026, the average net rental yield for apartments in Lima (after typical ongoing costs but before mortgage payments) is around 3.8% to 4.8% per year for a well-managed long-term rental.
Most apartment investors in Lima can realistically expect net yields between 3.5% and 5%, depending on how efficiently they manage vacancy, maintenance, and building service charges.
The single biggest expense that reduces gross yield to net yield in Lima is the combination of building service charges (called "mantenimiento") and vacancy, which together can easily consume 15% to 25% of your gross rent, especially in buildings with security, elevators, and common areas that require consistent upkeep.
By the way, you will find much more detailed data in our property pack covering the real estate market in Lima.
What's the typical rent-to-price ratio for apartments in Lima in 2026?
As of early 2026, the typical annual rent-to-price ratio for apartments in Lima is approximately 6%, which translates to a monthly rent-to-price ratio of about 0.5%.
Most apartment transactions in Lima fall within an annual rent-to-price range of 5.3% to 7%, meaning monthly rents typically represent between 0.44% and 0.58% of the purchase price.
The apartment categories and neighborhoods in Lima with the highest rent-to-price ratios are smaller units (studios and 1-beds) in districts like Lince, Magdalena del Mar, and Surquillo, where purchase prices remain moderate but rental demand from young professionals and students keeps rents strong.
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How much rent can I charge for an apartment in Lima?
What's the typical tenant budget range for apartments in Lima right now?
The typical monthly tenant budget for renting an apartment in Lima ranges from S/1,500 to S/4,000 (roughly $400 to $1,050 USD or 370 to 970 EUR), though this varies significantly depending on the district and apartment quality.
Tenants targeting mid-range apartments in Lima, such as a decent 2-bed in Jesus Maria or Lince, typically budget between S/2,300 and S/3,600 per month (around $600 to $950 USD or 550 to 880 EUR).
Tenants seeking high-end or luxury apartments in Lima's prime districts like Miraflores, San Isidro, or Barranco often budget S/4,500 to S/8,000 or more per month (approximately $1,200 to $2,100 USD or 1,100 to 1,950 EUR), especially expats and senior executives.
We have a blog article where we update the latest data about rents in Lima here.
What's the average monthly rent for a 1-bed apartment in Lima as of 2026?
As of early 2026, the average monthly rent for a 1-bed apartment in Lima ranges from S/1,800 to S/3,200 (around $475 to $840 USD or 440 to 780 EUR), depending heavily on the district and building quality.
An entry-level 1-bed in Lima, meaning a basic but clean unit in districts like San Miguel or Surquillo, typically rents for S/1,600 to S/2,200 per month ($420 to $580 USD or 390 to 540 EUR), and these units are often older buildings without doormen but with good public transport access.
A mid-range 1-bed in Lima, such as a well-maintained apartment in Jesus Maria or Lince with security and an elevator, commands S/2,200 to S/2,800 monthly ($580 to $740 USD or 540 to 690 EUR).
A high-end 1-bed in Lima, like a modern furnished unit in Miraflores or Barranco with ocean proximity and building amenities, can fetch S/3,000 to S/4,500 per month ($790 to $1,180 USD or 730 to 1,100 EUR).
What's the average monthly rent for a 2-bed apartment in Lima as of 2026?
As of early 2026, the average monthly rent for a 2-bed apartment in Lima ranges from S/2,500 to S/4,800 (approximately $660 to $1,260 USD or 610 to 1,170 EUR), with significant variation by neighborhood.
An entry-level 2-bed in Lima, such as a functional apartment in Magdalena del Mar or San Miguel without luxury finishes, typically rents for S/2,300 to S/2,800 monthly ($605 to $740 USD or 560 to 690 EUR).
A mid-range 2-bed in Lima, meaning a well-located unit in Jesus Maria, Lince, or Pueblo Libre with modern amenities, commands S/2,800 to S/3,800 per month ($740 to $1,000 USD or 690 to 930 EUR).
A high-end 2-bed in Lima, like a renovated or new-build apartment in Miraflores, San Isidro, or Barranco with premium finishes and views, can fetch S/4,200 to S/6,500 monthly ($1,100 to $1,710 USD or 1,020 to 1,590 EUR).
What's the average monthly rent for a 3-bed apartment in Lima as of 2026?
As of early 2026, the average monthly rent for a 3-bed apartment in Lima ranges from S/3,500 to S/7,500 (around $920 to $1,970 USD or 855 to 1,830 EUR), with prime locations commanding even higher rents.
An entry-level 3-bed in Lima, such as a spacious but basic apartment in San Miguel or the outer edges of Surco, typically rents for S/3,500 to S/4,500 monthly ($920 to $1,180 USD or 855 to 1,100 EUR).
A mid-range 3-bed in Lima, meaning a family-friendly unit in San Borja, Santiago de Surco, or La Molina near good schools, commands S/4,500 to S/6,000 per month ($1,180 to $1,580 USD or 1,100 to 1,470 EUR).
A high-end 3-bed in Lima, like a new-build apartment in San Isidro or Miraflores with top amenities and building services, can fetch S/6,500 to S/10,000 or more monthly ($1,710 to $2,630 USD or 1,590 to 2,440 EUR).
How fast do well-priced apartments get rented in Lima?
A well-priced apartment in Lima's high-demand districts typically gets rented within 2 to 5 weeks, with furnished 1-beds and 2-beds in Miraflores or Barranco often moving faster due to expat demand.
The typical vacancy rate for apartments in Lima's main investment districts hovers around 5% to 8% annually, which translates to roughly one month of vacancy per year as a conservative budgeting assumption.
The main factors that cause some apartments to rent faster than others in Lima are proximity to the financial district of San Isidro (for corporate tenants), being within walking distance to Miraflores' Parque Kennedy (for expats), and having a doorman with 24-hour security, which is a non-negotiable for many Lima renters concerned about safety.
And if you want to know what should be the right price, check our latest update on how much an apartment should cost 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.
Which apartment type gives the best yield in Lima?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Lima as of 2026?
As of early 2026, studios and 1-bed apartments typically offer the best rental yield in Lima, followed by 2-beds, with 3-beds generally delivering the lowest yields but the most stability for family tenants.
The typical gross rental yield range for each apartment type in Lima is approximately 6.5% to 7.5% for studios and 1-beds, 5.5% to 6.5% for 2-beds, and 4.5% to 5.5% for 3-beds.
The main reason smaller units outperform in Lima is that the city has a large pool of young professionals, students, and expats who need affordable central housing, and their willingness to pay relatively high rents for compact spaces in districts like Miraflores, Lince, and Barranco keeps the rent-to-price ratio elevated for smaller units.
Which features are best if you want a good yield for your apartment in Lima?
The features that most positively impact rental yield for apartments in Lima are walkability to offices and services (especially in San Isidro and Miraflores), furnished and turnkey condition (critical for expat tenants), and 24-hour doorman security, which commands a meaningful rent premium because personal safety is a top priority for Lima renters.
In Lima, apartments on mid-level floors (3rd to 8th floors) are generally easiest to rent because they balance security concerns (higher than street level) with practical considerations like elevator wait times and earthquake evacuation.
Apartments with balconies in Lima do rent faster and at slightly higher prices, especially in coastal districts like Miraflores and Barranco where outdoor space with ocean breezes is highly valued by both locals and expats.
Building features like elevators, concierge, and parking typically justify the higher service charges in Lima because tenants actively seek secure parking (car theft is a concern) and professional building management, making these amenities more necessity than luxury for the upper-middle-class rental market.
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Which neighborhoods give the best rental demand for apartments in Lima?
Which neighborhoods have the highest rental demand for apartments in Lima as of 2026?
As of early 2026, the neighborhoods with the highest rental demand for apartments in Lima are Miraflores, Barranco, San Isidro, Santiago de Surco, San Borja, and the emerging hubs of Lince and Jesus Maria.
The main demand driver that makes these neighborhoods attractive in Lima is the concentration of corporate offices, embassies, and international schools, which creates a steady flow of expat and professional tenants who need quality housing close to work and prefer secure, well-maintained buildings.
The typical vacancy rate in these high-demand Lima neighborhoods is around 4% to 6%, with well-priced furnished apartments often renting within 2 to 3 weeks due to the limited supply of quality rental stock.
Lince is an emerging neighborhood gaining strong rental demand momentum in Lima because it offers Miraflores-adjacent location at lower prices, attracting young professionals who want central living without the premium coastal price tag.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Lima.
Which neighborhoods have the highest yields for apartments in Lima as of 2026?
As of early 2026, the neighborhoods with the highest rental yields for apartments in Lima are Lince, Magdalena del Mar, San Miguel, and Surquillo, all of which offer strong rental demand combined with more accessible purchase prices.
The typical gross rental yield range in these top-yielding Lima neighborhoods is 6.5% to 7.5%, compared to 5% to 5.5% in prime but expensive areas like San Isidro and parts of Miraflores.
The main reason these neighborhoods offer higher yields than others in Lima is that purchase prices have not inflated as much as in coastal districts, while rental demand remains strong from young professionals who work nearby and prefer shorter commutes, keeping the rent-to-price ratio favorable for investors.
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.
Should I do long-term rental or short-term rental in Lima?
Is short-term rental legal for apartments in Lima as of 2026?
As of early 2026, short-term rentals are generally legal in Lima and there is no citywide ban, but there are important restrictions you need to check before operating an Airbnb-style rental.
The main legal restrictions for short-term rentals in Lima include building regulations (many condo associations prohibit tourist-style stays in their internal rules) and a government registration requirement for anyone hosting foreign guests, which has been mandatory since December 2024.
If you plan to rent to foreigners on a short-term basis in Lima, you must register with Peru's immigration authority (Migraciones) under the "Registro de hospedaje y arrendamiento para extranjeros" program, and failure to comply can result in fines.
It is also worth noting that Peru's tourism ministry (MINCETUR) has discussed draft regulations that could cap short-term rentals at 180 days per year, so while this is not yet law, it represents a policy risk to monitor closely.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Lima.
What's the gross yield difference short-term vs long-term in Lima in 2026?
As of early 2026, short-term rentals in Lima can generate 1% to 2.5% higher gross yields than long-term rentals, but this gap narrows significantly once you account for the additional costs and effort involved.
The typical gross yield range for short-term rentals in Lima is 6% to 8.5% in strong micro-locations like Miraflores and Barranco, compared to 5.5% to 6.5% for long-term rentals in the same areas.
The main additional costs that reduce the net yield advantage of short-term rentals in Lima include platform fees (Airbnb takes around 3%), higher utility bills (you pay them, not the tenant), professional cleaning between guests, furnishing replacement, and often property management fees of 15% to 25% of revenue.
To outperform a long-term rental in Lima, a short-term rental typically needs to achieve at least 55% to 60% occupancy, and anything below 50% occupancy will likely leave you with similar or worse net returns than a stable long-term tenant.
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What costs will eat into my net yield for an apartment in Lima?
What are building service charges as a % of rent in Lima as of 2026?
As of early 2026, typical building service charges (called "mantenimiento") for apartments in Lima range from 8% to 18% of monthly rent, which translates to roughly S/200 to S/600 per month ($55 to $160 USD or 50 to 150 EUR) for a mid-range apartment.
The realistic range of building service charges in Lima covers 6% of rent for basic buildings with minimal amenities up to 22% for premium buildings with extensive services, so budgeting around 12% to 15% is a reasonable middle-ground assumption.
The services and building features that justify higher service charges in Lima include 24-hour doorman security (almost universal in quality buildings), swimming pools, gyms, maintained gardens, backup generators (important given occasional power issues), and professional administration, all of which tenants expect in the Lima Moderna and Lima Top districts.
What annual maintenance budget should I assume for an apartment in Lima right now?
A solid maintenance budget assumption for an apartment in Lima is 0.7% to 1.2% of the property value per year (roughly S/4,000 to S/8,000 or $1,050 to $2,100 USD or 975 to 1,950 EUR for a $150,000 apartment), excluding the building service charges which are separate.
The realistic range of annual maintenance costs in Lima depends on apartment condition: newer buildings (under 10 years) typically need 0.5% to 0.8% of value annually, while older buildings (20+ years) may require 1.0% to 1.5% or more due to aging plumbing, electrical systems, and finishes.
The most common maintenance expenses apartment owners face in Lima include water heater replacements (Lima's hard water shortens their lifespan), repainting every 2 to 3 years to address humidity damage in coastal districts, and appliance repairs or replacements if you rent furnished, especially air conditioning units which work hard in Lima's humid summers.
What property taxes should I expect for an apartment in Lima as of 2026?
As of early 2026, annual property tax (impuesto predial) for a typical investment apartment in Lima ranges from S/400 to S/2,000 per year ($105 to $525 USD or 100 to 490 EUR), depending on the official assessed value (autovaluo) of your property.
The realistic range of property taxes in Lima depends on apartment value and location: a S/400,000 apartment might pay around S/800 to S/1,200 annually, while a S/800,000 apartment in San Isidro could pay S/1,800 to S/2,500 or more.
Property taxes in Lima are calculated using a progressive scale applied to the autovaluo (official assessed value, which is usually lower than market value): the first 15 UIT is taxed at 0.2%, from 15 to 60 UIT at 0.6%, and above 60 UIT at 1.0%.
There are some property tax reductions available in Lima, including discounts for pensioners (retirees) who own a single property and meet certain income thresholds, though most foreign investors will not qualify for these exemptions.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Lima.
How much does landlord insurance cost for an apartment in Lima in 2026?
As of early 2026, annual landlord insurance for an apartment in Lima typically costs S/120 to S/600 per year ($32 to $160 USD or 30 to 150 EUR) for basic coverage, though comprehensive policies with higher insured values can cost more.
The realistic range of annual landlord insurance costs in Lima depends on coverage level: basic policies covering fire and natural disasters start around S/120 per year, while comprehensive policies including theft, water damage, and third-party liability can run S/400 to S/1,000 or more for higher-value apartments.
What's the typical property management fee for apartments in Lima as of 2026?
As of early 2026, typical property management fees for long-term rental apartments in Lima range from 6% to 10% of monthly rent (roughly S/150 to S/400 or $40 to $105 USD or 37 to 98 EUR per month for a mid-range apartment), often plus a one-time tenant placement fee.
The realistic range of property management fees in Lima is 6% to 8% for basic rent collection and maintenance coordination, up to 10% to 12% for full-service management including regular inspections and tenant screening, while short-term rental management typically costs 15% to 25% of revenue due to heavier operational demands.
Standard property management services in Lima typically include tenant sourcing and screening, rent collection, coordinating repairs with contractors, handling tenant communications, and managing lease renewals, though some managers charge extra for finding new tenants or handling legal issues.
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 |
|---|---|---|
| BCRP - Indicadores del mercado inmobiliario IIIT 2025 | Peru's central bank publishing official, consistent time series data. | We used it to anchor Lima apartment sale prices, rents, and price-to-rent ratios. We treated it as our spine dataset and cross-checked everything else against it. |
| SUNAT - Rental Income FAQ | Peru's official tax authority explaining rental income taxation. | We used it to anchor the 5% first-category rental income tax calculation. We used it to build the net yield stack since tax is one of the biggest predictable drags. |
| SAT Lima - Predial y Arbitrios | Lima's official municipal tax administrator describing property tax rules. | We used it to model property tax using progressive 0.2%/0.6%/1.0% brackets by autovaluo. We used it to set expectations that predial is usually small versus rent. |
| Migraciones Peru - Foreign Guest Registration | Government portal describing a legal compliance requirement with dates. | We used it to explain the registration obligation when hosting foreigners. We used it as the must-do compliance item for short-term rental landlords. |
| Semana Economica - MINCETUR Draft Rules | Reputable Peruvian business outlet reporting on regulatory developments. | We used it to flag regulatory direction-of-travel for possible STR caps. We used it to frame short-term rental risk as policy risk, not a current ban. |
| AirDNA - Lima STR Overview | Widely used short-term rental data platform with transparent metrics. | We used it to estimate gross STR revenue using occupancy and ADR. We used it only for short-term rental analysis, not long-term rents. |
| SBS - Insurance Comparison Portal | Peru's national financial regulator providing consumer comparison tools. | We used it as the authoritative source for verifying insurance pricing. We used it to avoid relying on unverified blogs for insurance cost claims. |
| RIMAC - Seguro Domiciliario Tariff | Primary document from a major insurer with SBS registration references. | We used it to ground landlord insurance examples with a real floor price. We used it to keep insurance as a small but real line item in net yield math. |
| El Peruano - Building Maintenance Enforcement | Peru's official state newspaper reporting legal changes. | We used it to support that building maintenance is a formal, enforceable obligation. We used it to justify treating service charges as non-optional in many buildings. |
| La Republica - Urbania Index Rents | Mainstream national newspaper explicitly citing Urbania's Index data. | We used it as a cross-check that market rents align with BCRP signals. We used its headline average to translate per-square-meter rents into monthly totals. |
| El Comercio - INEI Income Data | Top-tier national newspaper directly citing official INEI statistics. | We used it to estimate tenant budget ceilings based on income affordability. We used it to keep rent expectations realistic across different districts. |
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