Summary
The legal risk of buying in Lima is low: a foreigner can own an apartment 100% in their own name, like a Peruvian. The real risks are a bad title, off-plan delays and an older building on the wrong spot, and on a $150,000 (about S/ 516,000) resale you'll also pay about 3% to 4% in buying costs.
The only foreigner rule is the 50 km ban along the borders, and Lima is far from any of them. What protects you is registration at SUNARP, not the signed minuta, and courts are slow enough that prevention beats suing.
The three scams that come up most are a fake owner or fake power of attorney, a hidden mortgage or seizure on the unit, and a developer who takes deposits and delivers years late. A SUNARP check and the free Alerta Registral block the first two before you pay anything.
To check the seller, pull the partida registral yourself from SUNARP and match the owner to their ID. Never accept a PDF sent on WhatsApp: SUNARP certificates carry a code you can verify online.
Buying costs on a $150,000 (about S/ 516,000) resale come to about S/ 15,700 to S/ 16,900 ($4,550 to $4,900): the 3% alcabala above S/ 55,000, SUNARP at about 0.3% plus S/ 44.50, and the notary. Notary and registry together are well under 1% of the price, not the 1% to 2% you may read.
Turn down any offer to declare a lower price: every payment of S/ 2,000 or $500 and up must go through a bank, and a non-resident pays 5% of the whole price on resale if they can't prove what they paid.
Agents should be in the official registry (Law 29080). The usual fee is 3% to 5% plus 18% IGV, about 3.5% to 5.9%, and the seller normally pays it.
Inspections aren't standard in Lima, so hire your own civil engineer. Damp in coastal buildings, unpermitted extensions and floors missing from the SUNARP record are the usual hidden problems.
Off-plan is where buyers lose the most money. Lima and Callao had 55,916 new apartments for sale in August 2026, about 23 months of sales, and Indecopi fined real estate and construction companies 269 times in the first months of 2026.
Extortion is still a daily issue: the state of emergency in Lima and Callao was extended again for 60 days from October 28, 2026. Lima also hasn't had a very large earthquake since 1746, and the Costa Verde cliffs have 65 identified landslide points.
Airbnb is legal, with no national law yet, but your building's rulebook can ban it. Lima listings averaged 36% occupancy over the year to September 2026 (AirROI), so don't buy on a rental promise you haven't checked.
Locals set up the SUNARP alert as soon as they negotiate, and they don't pay the asking price: new units sold about 5.5% below advertised prices in July 2026.
Our advice: buy a resale in a well-kept building, check the partida registral and the building rules yourself, pay only through a bank and the notary, and budget about 4% on top of the price.
What legal protection do you really get as a foreign buyer in Lima?
Can foreigners legally own properties?
Yes. Foreigners, even non-residents, can buy and own property in Lima on the same terms as Peruvians, with no special permit and no residency requirement (Article 71 of the Constitution).
The one restriction is the ban on owning property within 50 km of Peru's borders. Lima is nowhere near a border, so it doesn't affect a purchase in Miraflores, San Isidro, Barranco, Surco or anywhere else in the city.
Most foreigners buy in their own name. A Peruvian company (usually a Sociedad Anónima Cerrada, or SAC) adds accounting costs and is taxed as a business, so for one or two apartments your own name is usually the simpler choice.
Owning an apartment doesn't give you residency, though. The rentista visa asks for $1,000 a month of permanent passive income from abroad, and the investor visa for S/ 500,000 invested in a business, not in a home.
What buyer rights do foreigners actually have?
The same as Peruvians. But your ownership is only fully protected once the transfer is registered at SUNARP, Peru's public property registry.
If a seller breaks the contract, you can sue in Peru's civil courts, but cases are slow and the outcome uncertain. That's why buyers who've done this before put their effort into checks before signing, not into lawsuits after.
The most common mistake is thinking a signed private contract (the "minuta") protects you. It doesn't against third parties: only the escritura pública signed at a notary and registered at SUNARP does.
How strong is contract enforcement in Lima right now?
Weaker than in the US, the UK or Spain. The World Justice Project ranks Peru low on civil justice compared with its regional and global peers.
In practice, a property dispute in Lima's courts can take years, cost a lot in legal fees and still end badly. "I'll sue if something goes wrong" is not a plan. Clean paperwork before you pay is.
Against a developer, you have faster options than the courts: a complaint to Indecopi, the Defensoría del Cliente Inmobiliario, or consumer arbitration.
Which scams target foreign buyers in Lima right now?
Are scams against foreigners common in Lima right now?
Common enough to plan for. There's no official count of property scams against foreigners, but fake owners, hidden liens and developers who disappear with deposits all come up regularly in Lima.
The targets are off-plan purchases from little-known developers and resale apartments in the expat districts, Miraflores, Barranco and Surco, where foreigners pay top prices and sometimes skip the checks.
The buyer most at risk is someone buying from abroad, who doesn't speak much Spanish and relies on a single agent or contact.
The biggest warning sign: urgency. A seller or agent who rushes you, talks you out of a SUNARP check or sends documents only on WhatsApp is telling you something.
What are the top three scams foreigners face in Lima right now?
The three that come up most:
- Identity fraud: someone poses as the owner or as their representative, often with a fake power of attorney.
- Hidden liens: a mortgage or seizure on the unit that only shows up after the sale.
- Off-plan schemes: a developer takes deposits, then delays delivery for years or vanishes.
Identity fraud usually goes like this: the scammer forges or gets hold of property documents, presents themselves as the owner, pushes you to sign fast and wire money, and disappears before you learn that the real owner never agreed to sell.
Each one has a simple defense: pull the ownership record from SUNARP yourself (never trust a PDF from the seller), set up SUNARP's free Alerta Registral on the property during negotiations, and look up the developer on Indecopi's "Mira a quién le compras" portal before paying any deposit.
Buying in Peru as a Foreigner
How do I verify the seller and ownership in Lima without getting fooled?
How do I confirm the seller is the real owner in Lima?
Get a fresh certificate from SUNARP's online platform (the Certificado Registral Inmobiliario or a copy of the partida), which shows the current registered owner, and match that name to the seller's ID.
The document that matters is the partida electrónica (the electronic registry file). It holds the full ownership history, the registered liens (cargas y gravámenes) and the current legal owner.
The most common trick is a forged or outdated PDF that seems to prove ownership. It's easy to beat: don't accept documents forwarded by WhatsApp or email, and pull your own copy from SUNARP.
If the seller is married, check who has to sign: in Peru, a home bought during the marriage usually needs both spouses.
Where do I check liens or mortgages on a property?
At SUNARP, Peru's National Superintendency of Public Registries, which records every registered mortgage, seizure (embargo) and court lien.
Ask for the full partida electrónica of the unit, and get a no-debt certificate (certificado de no adeudos) from the district to make sure there's no unpaid predial or arbitrios. Ask the building administrator, too, for proof that building fees are paid.
What foreign buyers miss most: co-ownership claims, often from a spouse or relative, and debts that were never registered. That's why you need both the SUNARP check and a lawyer reading the title history.
How do I spot forged documents in Lima right now?
The usual fake is an altered SUNARP certificate that shows the wrong owner or leaves out a lien. It happens, and it's easy to stop if you check at the source.
Red flags: odd fonts or layout, a missing QR code or digital signature, dates that don't match the last sale, and any document sent as a photo or screenshot rather than an official PDF.
Use SUNARP's online verification tool: it tells you whether a digitally signed certificate was really issued by SUNARP.
What "grey-area" practices should I watch for in Lima?
What hidden costs surprise foreigners when buying a property?
The costs themselves aren't hidden, but they're often misquoted. On a resale, you pay the alcabala (3% of the value above the first 10 UIT, so above S/ 55,000 ($16,000) in 2026), the SUNARP registration (about 0.3% of the price plus S/ 44.50) and the notary (about S/ 250 to S/ 1,500).
On a $150,000 (about S/ 516,000) resale, that adds up to about S/ 15,700 to S/ 16,900 ($4,550 to $4,900), or 3.0% to 3.3%. A lawyer is extra: there's no official fee, and a basic review is often around S/ 1,500 ($435). With a lawyer and a little margin, budget about 3% to 4% of the price.
| $150,000 (about S/ 516,000) resale | Cost |
|---|---|
| Alcabala (3% above S/ 55,000) | S/ 13,830 |
| SUNARP (0.3% + S/ 44.50) | S/ 1,592 |
| Notary | S/ 250 to S/ 1,500 |
| Total | S/ 15,672 to S/ 16,922 (3.0% to 3.3%) |
A new apartment bought from the developer costs much less to close, about 1% to 2%, because the alcabala only applies to the land share and the 18% IGV is already in the price.
The cost sellers and agents keep quiet about is "regularization": fixing the gap between what the apartment looks like and what SUNARP has on file, after a past owner added a room, a floor or a terrace without a permit. That can delay your registration and your mortgage.
Are "cash under the table" requests common in Lima right now?
They still happen: some sellers offer to declare a lower price in the deed, or ask for part of the payment in cash.
The pitch is that you'll "save on alcabala". What the seller really saves is their own tax on the sale. And the alcabala is charged on the higher of the declared price and the municipal valuation anyway.
For you, it's a bad deal. Any payment of S/ 2,000 or $500 and up must go through a bank to count, so cash leaves you with no proof of what you paid. A lower declared price also means more tax when you sell: a non-resident pays 5%, on the whole price unless SUNAT certifies what they paid (on a $180,000 sale, $9,000 instead of about $1,500 on the gain).
Are side agreements used to bypass rules in Lima right now?
Yes, mostly around furniture and fittings left out of the official price, delivery-date promises on new builds, and verbal "promises" about what can be built next door or added later.
The usual version splits the price in two: an official amount in the deed and a second payment "for furniture" or "improvements" that is never documented.
If it comes out, you risk a tax penalty from SUNAT for under-declaring, and you have no legal way to enforce the informal part if the seller doesn't deliver. Get every promise into the notarized contract or don't count on it.
70+pagesCan you trust a real estate agent in Lima?
Are real estate agents regulated?
On paper, yes. Law 29080 created an official registry of real estate agents (Registro del Agente Inmobiliario), run by the Ministry of Housing. In practice, enforcement is weak and many agents work without being registered.
A legitimate agent has a registration number. Ask for it and check it in the registry before you work with them.
Also ask for references from foreign clients who have actually closed a deal with that agent, and remember that an agent paid by the seller works for the seller.
What agent fee percentage is normal?
Usually 3% to 5% of the sale price, plus 18% IGV, so about 3.5% to 5.9% in total. There's no official rate: it's negotiated.
The low end is for simple apartment sales in established buildings; the high end for houses, land or properties that need a lot of marketing.
The seller normally pays the commission. Some agents try to charge both sides, so get it in writing before you sign anything with an agent.
What due diligence actually prevents disasters in Lima?
What structural inspection is standard in Lima right now?
Not much is standard. Many deals in Lima close with little or no technical inspection, which surprises buyers from the US or Europe.
A good inspector checks the foundations, load-bearing walls, plumbing, the electrical capacity, damp (important in Miraflores and Barranco by the sea) and how the building was designed for earthquakes, since Lima sits in an active seismic zone.
Hire a licensed civil engineer (ingeniero civil) or architect yourself, not one suggested by the seller or the agent.
What inspections usually find: damp and mold in older coastal buildings, unpermitted renovations that weaken the structure, wiring that can't take modern loads and weak water pressure from old pipes, often in mid-century buildings in Jesús María and Lince.
How do I confirm exact boundaries?
Compare the SUNARP description with the district's cadastral records and, for a house or land, have a licensed surveyor measure it.
The documents that show the legal limits are the partida electrónica (with the registered description and area) and SUNARP's Base Gráfica Registral viewer, which shows registered plots on a map where available.
The usual dispute: walls, fences or extensions that don't match what's registered, after informal additions or old mistakes that were never corrected.
For the check on the ground, hire a surveyor (topógrafo) or a civil engineer with surveying experience.
What defects are commonly hidden in Lima right now?
The top three: damp and mold under fresh paint in older coastal buildings, unpermitted renovations that cause structural or legal problems, and paperwork mismatches where the apartment doesn't match its SUNARP record.
How to find them: use a moisture meter on the walls, ask for permits for any visible renovation, compare the real floor plan with the SUNARP description, and visit at different times of day to check noise and water pressure.
70+pagesIs buying off-plan in Lima still a trap with so many new apartments unsold?
It's the riskiest way to buy in Lima, and the market is full of it. Lima and Callao had 55,916 new apartments for sale in August 2026 (CODIP), about 23 months of sales, after a peak of 62,111 in November 2025.
Most of that stock isn't built yet. CAPECO counted 56,251 new homes on offer in the second quarter of 2026: 29,246 in pre-sale, 23,250 under construction and only 3,755 finished. If you buy in pre-sale, you're betting on the developer for two years or more.
Complaints are real: Indecopi sanctioned real estate and construction companies 269 times in 2026 by early June, with fines of 592.84 UIT, after 724 sanctions in 2025. It was the second most sanctioned sector, mostly for not delivering what was promised and for poor information.
The upside of so much stock is that you can negotiate. New units sold about 5.5% below their advertised prices in July 2026, and a developer with unsold units can often pay the notary and registry for you.
Before you pay a deposit:
- Check the developer on Indecopi's "Mira a quién le compras" portal and look at its finished buildings.
- Ask for the building license and the approved plans, and check that the land is registered in the developer's name at SUNARP.
- Get the delivery date and the penalty for delay in the contract: there is no national escrow system, so the contract is your protection.
- Prefer a finished or almost finished unit, even at a higher price: new units already ask 21% to 26% more per m² than buildings over 5 years old.
- At delivery, write down any defect and whether you accept the unit: that record is your evidence for a later claim.
Do extortion, earthquakes and the Costa Verde cliffs change where you should buy in Lima?
Extortion is the risk people in Lima talk about most. The state of emergency in Lima Metropolitana and Callao has been extended again and again: most recently by Decreto Supremo 142-2026-PCM, published on October 25, 2026, for 60 days from October 28. Keiko Fujimori, president since July 28, 2026, has made crime one of her priorities, but nothing has changed for foreign buyers.
Extortion mostly hits small businesses and transport, more in the outer districts. For a buyer, it means picking central districts and a building with a 24-hour doorman, cameras and controlled access.
Earthquakes are the bigger long-term risk. Peru's Geophysical Institute (IGP) says Lima's coast has gone more than 275 years without a very strong earthquake (the last big one was in 1746), and that a magnitude 8.8 earthquake will hit central Peru at some point. Buy in a building designed to the modern seismic code, with its license and declaratoria de fábrica registered, and take insurance with earthquake cover.
On the coast, the Costa Verde cliffs below Miraflores, Barranco and Magdalena have 65 critical landslide points (31 in Miraflores, 18 in Barranco and 16 in Magdalena), according to the Municipalidad de Lima in January 2026. A sea view on the Malecón is worth paying for, but ask how far the building is from the cliff edge and what the district has done there.
What to do:
- Ask for the building's year and license: newer buildings follow the current seismic code.
- Get earthquake insurance quotes before you buy. We found no reliable average premium: it depends on the value, the building and the deductible.
- Check building security as closely as the price.
70+pagesCan you rent your Lima apartment on Airbnb if the building says no?
Not safely. There's no national Airbnb law in force (the REDAT tourist-home register is still only a bill), so the rule that really decides is your building's rulebook, the reglamento interno. Some buildings limit or ban short stays, and the owners' association can change the rules after you buy.
Ask for the reglamento interno and the latest meeting minutes before you sign, and get any Airbnb permission in writing.
The other rules are national: declare the income to SUNAT (5% of the gross rent) and register foreign guests with Migraciones before they arrive (Decreto Supremo 011-2024-IN). SUNAT is checking: about 34,000 Airbnb owners hadn't declared their 2023 income, according to Gestión in May 2026.
Don't buy on a rental promise either. Lima listings averaged $73 a night and 36% occupancy over the year to September 2026 (AirROI); Miraflores did better, at 45.9%. If an agent promises occupancy far above that, ask for the listing's real booking history.
What insider lessons do foreigners share after buying in Lima?
What do foreigners say they did wrong in Lima right now?
The most common regret is trusting a person, usually an agent or a friend's contact, instead of a process: independent checks through SUNARP and other official records.
The three regrets that come back most often: rushing because "another buyer is interested", not hiring an independent lawyer, and thinking a signed contract meant the deal was done when the sale was never registered at SUNARP.
A simple rule: if you can't check it with SUNARP, Indecopi or the district, treat it as marketing, not fact.
The mistake that costs the most is buying off-plan from an unknown developer without checking its record at Indecopi, then facing years of delays, changed specifications or a lost deposit.
What do locals do differently when buying in Lima right now?
Locals treat the paperwork as the deal: nothing is final until SUNARP registers it. Foreigners tend to focus on the apartment itself and trust what they're told.
The step locals take and foreigners skip: setting up SUNARP's free Alerta Registral on the property as soon as they negotiate seriously. It warns you by email if anyone tries to register a change on that property.
Locals also negotiate. Asking prices are a starting point: on new units, sold prices were about 5.5% below advertised prices in July 2026 (CODIP). They know which notaries are quick and reliable, and they talk to the building administrator about the state of the common areas and any disputes in the building.
Our methodology
This article covers the risks of buying a home in Lima as a foreigner: the legal rules, the common scams, ownership checks, grey-area practices, agents, inspections, off-plan purchases, extortion, earthquakes, the Costa Verde cliffs and Airbnb building rules.
Market figures come from the most recent sources we could find: CODIP and CAPECO for the new-build stock (August and second quarter of 2026), AirROI for Airbnb (12 months to September 2026), and Indecopi for sanctions (June 2026). Buying costs were calculated by script for a $150,000 resale.
Rules come from official sources: the Constitution for foreign ownership, SUNARP for registration and checks, SAT Lima for the alcabala, SUNAT for taxes and bank-payment rules, Law 29080 for agents, Migraciones for guest registration and the IGP and the Municipalidad de Lima for natural risks.
We checked these figures in October 2026. Sol amounts are converted at about 3.44 soles per US dollar (and 3.85 soles per euro), the SUNAT/SBS rate of October 22, 2026.
Where we had no direct figure, like the number of property scams, the cost of an inspection, building fees or an insurance premium, we said so rather than guess. Your own costs and risks will depend on the building, the seller, the contract and how carefully you check.
Key sources used for this analysis include SUNARP's online services, SUNARP Alerta Registral, the Peruvian Constitution, SAT Lima on the alcabala, EximiaHaus on notary and SUNARP fees, Indecopi on real estate sanctions, Acento on CODIP and CAPECO data, Law 29080, Gestión on the state of emergency and the World Justice Project.
