Authored by the expert who managed and guided the team behind the Peru Property Pack
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Thinking about buying property in Peru in 2026? You're not alone, and this guide will help you understand whether the timing makes sense.
We break down what's happening with housing prices in Peru right now, using real data from official sources like Peru's central bank and financial regulators.
This article is constantly updated to reflect the latest market conditions, so you always get fresh insights.
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 Peru.
So, is now a good time?
As of early 2026, buying property in Peru looks like a "rather yes" decision, meaning conditions are favorable but you still need to pick the right location and property type.
The strongest signal is that Peru's price-to-rent ratio sits around 17, which translates to a gross rental yield of about 6%, suggesting prices are not overheated compared to what properties actually earn.
Another strong signal is that mortgage rates in Peru have dropped to around 6.26% in soles, down from much higher levels in previous years, making financing more accessible for buyers.
On top of that, Lima's housing market shows strong sales momentum while new project supply is shrinking, which typically supports prices and protects your investment value.
The best strategy right now is to focus on apartments in Lima's liquid districts like Miraflores, Surco, or San Miguel, hold for at least 5 years, and consider renting out to benefit from steady rental demand.
This is not financial or investment advice, we don't know your personal situation, and you should always do your own research before making any property purchase decision.
Is it smart to buy now in Peru, or should I wait as of 2026?
Do real estate prices look too high in Peru as of 2026?
As of early 2026, property prices in Peru appear roughly in line with what fundamentals suggest, with Lima apartment prices sitting around US$1,900 per square meter and a price-to-rent ratio of about 17, which implies neither a bargain nor a bubble.
One clear signal that prices are not overly stretched in Peru is that listing activity in Lima's main districts remains steady without a surge in price cuts, suggesting sellers are pricing realistically and buyers are meeting them.
Another supporting signal is that mortgage credit in Peru continues to grow at a healthy pace, around 6% year-over-year, which shows that demand is real and not just speculative, keeping prices grounded in actual purchasing power.
You can also read our latest update regarding the housing prices in Peru.
Does a property price drop look likely in Peru as of 2026?
As of early 2026, the likelihood of a meaningful property price drop in Peru over the next 12 months is low, because the typical crash ingredients like collapsing credit, extreme valuations, or tightening rates are simply not present.
Looking at plausible scenarios, Peru property prices could range from a 5% decline in a stress scenario to a 10% gain in a strong demand scenario, with a flat-to-modest-gain outcome being most likely given current conditions.
The single most important macro factor that could trigger a price drop in Peru would be a sharp tightening of credit conditions, either through rising interest rates or banks pulling back on mortgage lending.
However, this scenario looks unlikely in the coming months because Peru's central bank has already cut its policy rate to 4.25% and mortgage rates are at multi-year lows around 6.26%, signaling an easing rather than tightening cycle.
Finally, please note that we cover the price trends for next year in our pack about the property market in Peru.
Could property prices jump again in Peru as of 2026?
As of early 2026, the likelihood of a renewed price surge in Peru is medium, meaning prices could rise meaningfully in specific neighborhoods but a nationwide spike is not the base case.
In terms of upside potential, Peru property prices could realistically climb 5% to 12% over the next 12 months in high-demand Lima districts, especially if mortgage rates stay low and new supply remains constrained.
The single biggest demand-side trigger that could drive prices higher in Peru would be continued easing of mortgage rates combined with sustained income growth, which would bring more buyers into the market at a time when new construction is lagging.
Please also note that we regularly publish and update real estate price forecasts for Peru here.
Are we in a buyer or a seller market in Peru as of 2026?
As of early 2026, the Peru property market is closer to balanced with seller-leaning pockets, meaning buyers still have negotiating room in many areas but face competition in Lima's most desirable districts like Miraflores, Surco, and San Isidro.
While Peru does not publish a standard months-of-inventory figure, sector reports indicate that Lima's formal housing market saw record sales in 2025 while new project launches slowed, which typically signals around 4 to 6 months of effective supply and tilts bargaining power toward sellers in popular areas.
Price reductions in Peru remain limited in high-demand Lima districts, with most correctly priced properties selling without significant cuts, though buyers can still negotiate 5% to 10% off asking prices in secondary locations or for units with quirks like high maintenance fees or unusual layouts.
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.
Are homes overpriced, or fairly priced in Peru as of 2026?
Are homes overpriced versus rents or versus incomes in Peru as of 2026?
As of early 2026, homes in Peru appear roughly fairly priced when measured against rents, but affordability against incomes remains tight for most local buyers, especially in Lima's more desirable districts.
The price-to-rent ratio in Lima sits around 17, which means it would take about 17 years of rent to equal the purchase price, and this falls within a normal range for urban Latin American markets where a ratio of 15 to 20 is considered balanced.
The price-to-income picture is more challenging: with average Lima household income around S/4,300 per month (assuming two earners) and typical apartment prices requiring 10 to 15 years of gross income, Peru sits on the less affordable end, though lower mortgage rates in 2026 are helping ease monthly payment burdens.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Peru.
Are home prices above the long-term average in Peru as of 2026?
As of early 2026, property prices in Lima are slightly above the long-term average in nominal US dollar terms, with the current price around US$1,900 per square meter compared to a historical range of US$1,700 to US$1,850, but this gap is modest rather than alarming.
Over the past 12 months, Peru property prices have grown at a low single-digit pace, roughly 2% to 4%, which is slower than the pre-pandemic period when annual gains sometimes reached 5% to 7%, suggesting the market is in a consolidation phase rather than a boom.
When adjusted for inflation, Lima property prices in 2026 are roughly at or slightly below their prior cycle peak from the mid-2010s, meaning buyers today are not paying a premium compared to what the market achieved in real terms years ago.
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What local changes could move prices in Peru as of 2026?
Are big infrastructure projects coming to Peru as of 2026?
As of early 2026, the biggest infrastructure project likely to move property prices in Peru is the new Jorge Chavez International Airport terminal and associated Lima-Callao connectivity improvements, which could boost demand in nearby corridors by improving access for business travelers and residents.
The new airport terminal is already under construction, with the operator targeting progressive opening phases through 2025 and 2026, making this a near-term catalyst rather than a distant promise that may never materialize.
Additionally, Lima Metro Line 2 continues advancing with several stations now complete in civil works, and when operational, it will reshape commute times and property values in districts along the route like Ate, Santa Anita, and central Lima.
For the latest updates on the local projects, you can read our property market analysis about Peru here.
Are zoning or building rules changing in Peru as of 2026?
There is no single nationwide zoning change dominating Peru's property market in 2026, but municipal permitting speed varies widely by district, and periodic building code updates affect construction costs and timelines.
As of early 2026, the net effect of zoning and building rules on Peru property prices is neutral to slightly supportive, because the lack of dramatic rule changes means supply remains constrained by existing processes rather than unlocked by new development-friendly policies.
The areas most affected by permitting and zoning dynamics in Peru are Lima's expanding middle-class districts like San Miguel, Pueblo Libre, and Jesús María, where developers navigate complex approvals that limit how quickly new supply can come online.
Are foreign-buyer or mortgage rules changing in Peru as of 2026?
As of early 2026, there are no significant foreign-buyer restrictions being introduced in Peru, and the more important rule change is on the financing side, where lower interest rates are making mortgages more accessible and supporting property demand.
Peru has historically been open to foreign property buyers without quotas, taxes, or bans, and there is no indication in 2026 that this will change, making it one of the more accessible Latin American markets for international investors.
On the mortgage side, the key development is that Peru's central bank cut its policy rate to 4.25% by December 2025, and SBS-reported mortgage rates have fallen to around 6.26% in soles, which meaningfully improves affordability compared to the 7% to 8% rates seen in prior years.
You can also read our latest update about mortgage and interest rates in Peru.
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.
Will it be easy to find tenants in Peru as of 2026?
Is the renter pool growing faster than new supply in Peru as of 2026?
As of early 2026, the renter pool in Peru's major urban areas appears to be growing at least as fast as new rental supply, with Lima's most desirable districts showing particularly tight conditions due to limited new project completions.
The best signal for renter demand in Peru is steady population growth in Lima combined with rising household incomes, with INEI data showing average Lima salaries grew over 9% in mid-2025, expanding the pool of people who can afford formal rental housing.
On the supply side, CAPECO reports indicate that new project launches in Lima slowed through 2025 even as sales hit record levels, which means fewer new rental units are coming online relative to the growing number of households seeking housing.
Are days-on-market for rentals falling in Peru as of 2026?
As of early 2026, days-on-market for rentals in Lima's best districts typically range from 20 to 45 days for standard apartments, and this timeframe appears stable to slightly tightening as demand stays solid and new supply remains constrained.
The difference between best areas and weaker areas in Peru is significant: a well-priced apartment in Miraflores or Surco might rent in 3 weeks, while a similar unit in a less connected district or one with quirky features could sit for 60 to 90 days or more.
One common reason days-on-market falls in Lima's prime rental zones is seasonal demand from corporate relocations and university cycles, with peaks around March and July when new leases typically start.
Are vacancies dropping in the best areas of Peru as of 2026?
As of early 2026, vacancy rates in Lima's top rental districts like Miraflores, San Isidro, Barranco, Surco, and San Borja appear to be stable or slightly dropping, as these areas attract sticky demand from expats, corporate renters, and higher-income professionals.
While Peru does not publish official vacancy rates, market conditions suggest that prime Lima districts run at effective vacancy rates below 5%, compared to 8% to 12% in less desirable areas where tenant pools are shallower and turnover is higher.
A practical sign that Lima's best rental areas are tightening is that landlords are increasingly able to hold firm on asking rents rather than offering discounts, and well-maintained units are receiving multiple inquiries within days of listing.
By the way, we've written a blog article detailing what are the current rent levels in Peru.
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Am I buying into a tightening market in Peru as of 2026?
Is for-sale inventory shrinking in Peru as of 2026?
As of early 2026, for-sale inventory in Lima's formal housing market appears to be shrinking, with industry reports noting that strong sales in 2025 combined with fewer new project launches has tightened available supply.
Estimating exact months-of-supply for Peru is difficult because there is no centralized MLS system, but sector commentary suggests Lima's high-demand districts are operating at around 4 to 6 months of inventory, which leans toward a seller-favorable market compared to the 6 to 9 months that would indicate balance.
The most likely reason inventory is shrinking in Lima is that developers have become cautious about launching new projects amid cost pressures and permitting uncertainty, while buyer demand has remained supported by improving mortgage rates.
Are homes selling faster in Peru as of 2026?
As of early 2026, homes in Lima's liquid districts are selling at a steady pace, with correctly priced apartments typically moving in 60 to 120 days, and the market does not show signs of slowing compared to last year.
Year-over-year, median days-on-market for Peru properties has remained stable or improved slightly, supported by mortgage credit growth running at around 6% and continued buyer interest in secure, well-connected neighborhoods.
Are new listings slowing down in Peru as of 2026?
As of early 2026, new for-sale listings in Peru appear to be growing more slowly than in prior years, driven primarily by reduced new project launches rather than existing homeowners holding back, though we acknowledge that precise listing data for Peru is limited.
Lima's seasonal pattern typically sees more listings in the first and third quarters, and current levels appear somewhat below what a fully supplied market would show, consistent with the supply constraints flagged by CAPECO.
The most plausible reason new listings are slowing in Lima is developer caution, as construction costs, permitting delays, and financing conditions have made builders more selective about which projects to launch.
Is new construction failing to keep up in Peru as of 2026?
As of early 2026, new construction in Lima appears to be falling short of household demand, with strong sales absorbing existing inventory while new project launches have not kept pace, creating a supply gap that supports prices.
Recent trends in permits and construction activity show a mixed picture: while some projects advance, the overall pipeline has slowed compared to peak years, and CAPECO has flagged concerns about whether supply can meet sustained demand.
The single biggest bottleneck limiting new construction in Peru is the combination of slow municipal permitting processes and rising construction costs, which makes developers more selective and delays the delivery of new units to market.
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.
Will it be easy to sell later in Peru as of 2026?
Is resale liquidity strong enough in Peru as of 2026?
As of early 2026, resale liquidity in Peru is reasonably strong if you buy in the right locations, with apartments in Lima's established districts like Miraflores, Surco, San Isidro, and Jesús María typically finding buyers within a few months when priced correctly.
Median days-on-market for resale homes in Lima's liquid districts runs around 60 to 120 days, which falls within a healthy liquidity range where sellers can transact without desperate price cuts, compared to the 150+ days that would signal a sluggish market.
The property characteristic that most improves resale liquidity in Peru is location, specifically being in a district known for safety, walkability, and access to services, as these factors attract the broadest buyer pool when it comes time to sell.
Is selling time getting longer in Peru as of 2026?
As of early 2026, selling time in Peru has not lengthened significantly compared to last year, with the market maintaining steady transaction flow supported by available financing and continued buyer interest in well-located properties.
Current median days-on-market in Lima ranges from about 60 days for well-priced apartments in prime districts to 150+ days for properties in secondary locations or those with features that narrow the buyer pool, like very large units or high maintenance fees.
One clear reason selling time can lengthen in Peru is affordability pressure, because if a property is priced beyond what typical buyers can finance with current mortgage rates, it will sit on the market until the seller adjusts expectations.
Is it realistic to exit with profit in Peru as of 2026?
As of early 2026, the likelihood of exiting with profit in Peru is medium to high if you hold for at least 5 years, buy in a liquid district, and avoid overpaying at purchase, though short-term flips are riskier given transaction costs.
The estimated minimum holding period that makes exiting with profit realistic in Peru is typically 5 to 7 years, which allows enough time for price appreciation and rental income to offset the substantial round-trip costs of buying and selling.
Total round-trip costs in Peru typically run 8% to 12% of property value, including notary fees, registration, taxes, and agent commissions, which translates to roughly US$15,000 to US$23,000 on a US$190,000 apartment, or approximately 14,000 to 21,000 euros.
The factor that most increases profit odds in Peru is buying in a district with proven liquidity and steady demand, such as Miraflores, Surco, San Borja, or Jesús María, because these areas attract consistent buyer interest and protect against being stuck with an unsellable property.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Peru, 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 Real Estate Statistics Portal | Peru's central bank publishes official, consistent real estate data. | We used this as our primary anchor for price levels and market trends in Lima. It provides quarterly updates that allow meaningful time-series comparisons. |
| BCRP Price per m² Series (12 Lima Districts) | Official central bank series with a defined basket of districts. | We used this to estimate today's typical apartment price in Lima's most traded areas. It also helped us compare 2025 levels to earlier years. |
| BCRP Price-to-Rent Indicator Series | A central-bank-built valuation signal with historical data. | We used this to judge whether prices are overvalued relative to rents. It also helped us calculate implied gross rental yields. |
| BCRP Reference Policy Rate Series | The central bank's policy rate directly affects mortgage costs. | We used this to assess the interest-rate backdrop for Peru in 2026. It helped us determine whether financing conditions are easing or tightening. |
| SBS Mortgage Rates Table | Peru's financial regulator publishes official reported market rates. | We used this to estimate current mortgage rates in soles for affordability analysis. It provides real, reported data rather than theoretical rates. |
| CAPECO Informe Económico de la Construcción | Peru's main construction chamber publishes the flagship sector report. | We used this to understand construction and supply dynamics in Lima. It helped us assess whether new supply will tighten in 2026. |
| RPP News (CAPECO Data) | National outlet explicitly attributing figures to CAPECO. | We used this as an accessible wrapper around CAPECO's sales and supply numbers. We only kept parts clearly attributed to the original source. |
| BCRP Credit Growth Note | Direct central bank publication about mortgage credit trends. | We used this to validate whether financing-driven demand is accelerating or cooling. It helped interpret sales strength beyond listing chatter. |
| Forbes Peru (INEI Income Data) | Cites INEI's official labor market statistics for Lima. | We used this to estimate typical Lima household income for affordability analysis. It helped us compute a practical price-to-income reality check. |
| Lima Airport Partners Official Communications | Primary-source statement from the airport operator. | We used this to anchor timelines around a key infrastructure catalyst in Lima. It helped us identify neighborhood-level demand drivers. |
| IMF Peru Country Page | Top-tier macro authority used by policymakers worldwide. | We used this to frame 2025 to 2026 growth and inflation expectations. It helped us stress-test crash versus soft landing narratives. |
| World Bank GDP per Capita Series | Major international institution with transparent sourcing. | We used this as a macro income cross-check for Peru over time. It kept our affordability discussion grounded in broad fundamentals. |
| Fondo MIVIVIENDA Statistical Bulletin | Government housing finance program with project pipeline data. | We used this to gauge subsidized market activity and available project inventory. It helped triangulate supply on the ground versus headlines. |
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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