Authored by the expert who managed and guided the team behind the Peru Property Pack
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Peru has become a magnet for foreign investors looking to generate rental income, thanks to gross yields that hover around 6% in Lima and a legal framework that genuinely welcomes overseas buyers.
We constantly update this blog post to reflect the latest regulations, market data, and practical realities of renting out property in Peru.
Whether you're eyeing a long-term rental in Miraflores or considering short-term stays in Cusco, understanding Peru's rental landscape in 2026 is essential before you invest.
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.
Insights
- Peru's central bank tracks 12 Lima districts quarterly, and the price-to-rent ratio in Lince sits at just 14.2, making it one of the highest-yield neighborhoods in the capital for 2026.
- Foreign landlords in Peru face a new compliance rule since December 2024: you must register foreign tenants' identity documents on the Migraciones platform or risk penalties.
- Lima's short-term rental market has over 27,000 active listings according to AirDNA, which means standing out requires professional operations rather than just listing your property.
- The 50-kilometer border restriction is not just paperwork in Peru; foreigners cannot legally own property within this zone without a rare Supreme Decree exception.
- Cusco's short-term rental occupancy averages 46% with a nightly rate around $35, far below Lima's $59, so seasonal tourism swings hit harder outside the capital.
- Peru's "Desalojo Express" fast-eviction process only works if your lease includes a specific notarized clause, so contract drafting matters more than in most countries.
- A remote landlord in Lima should budget roughly 30% to 45% of gross rent disappearing into management fees, HOA charges, vacancy, and the 5% rental income tax.
- Peru's banking regulator (SBS) has expanded acceptable ID documents for foreigners opening basic accounts, making it easier than before to collect rent locally in 2026.
Can I legally rent out a property in Peru as a foreigner right now?
Can a foreigner own-and-rent a residential property in Peru in 2026?
As of early 2026, foreigners can legally buy and rent out residential property in Peru, with the country's constitution treating overseas buyers much like local citizens for ownership purposes.
Most foreign investors hold property directly in their own name, though some use Peruvian corporations (SAC or SRL structures) when they want liability separation or plan to scale their portfolio.
The single biggest restriction foreigners face is the 50-kilometer border zone rule, which prohibits foreign ownership of property within 50 km of any Peruvian border unless the Council of Ministers grants a rare public-necessity exception via Supreme Decree.
Outside that border strip, you are free to purchase, own, and rent out residential real estate, but you must register your title with SUNARP (the national property registry) to make your ownership rights enforceable against third parties.
If you're not a local, you might want to read our guide to foreign property ownership in Peru.
Do I need residency to rent out in Peru right now?
You do not need to be a Peruvian resident to rent out property in Peru, and most foreign landlords manage their rentals remotely through local property managers and notaries.
However, you will need a tax identification number (RUC) from SUNAT to legally declare and pay rental income tax, which is typically 5% of gross rent for individuals under the first-category income rules.
A Peruvian bank account is not legally required, but it is strongly recommended because it simplifies rent collection, utility payments, and creates a clear paper trail for tax compliance.
Remote management is entirely feasible in Peru, especially in Lima, where property management services, bilingual notaries, and digital banking tools are widely available to support overseas landlords.
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What rental strategy makes the most money in Peru in 2026?
Is long-term renting more profitable than short-term in Peru in 2026?
As of early 2026, long-term renting is generally more profitable for hands-off investors in Lima's established neighborhoods, while short-term rentals can outperform in tourist-heavy areas like Cusco during peak season if you manage operations professionally.
A well-managed long-term rental in Miraflores earning around $650 per month ($7,800 per year) often nets more than a short-term rental averaging 51% occupancy at $59 per night, which would gross roughly $11,000 but lose $3,000 to $4,000 in extra operating costs.
Short-term rentals tend to win financially in Cusco's historic center, Barranco's artsy streets, and Lima's airport-adjacent zones where transient demand is high and guests accept premium nightly rates.
What's the average gross rental yield in Peru in 2026?
As of early 2026, the average gross rental yield for residential property in Peru's main urban markets sits around 5% to 7%, with Lima averaging approximately 6% based on central bank data.
The realistic range spans from about 5% in premium districts like La Molina (where purchase prices are high relative to rents) up to 7% or slightly more in middle-tier neighborhoods like Lince and Magdalena del Mar.
Studios and small one-bedroom apartments typically achieve the highest gross yields in Peru because their lower purchase prices attract stronger rent-to-value ratios than larger family units.
By the way, we have much more granular data about rental yields in our property pack about Peru.
What's the realistic net rental yield after costs in Peru in 2026?
As of early 2026, the realistic net rental yield for a typical Lima apartment held by a foreign investor ranges from about 3.5% to 4.5% after accounting for all recurring costs.
Most landlords in Peru experience net yields between 3% and 5%, with the lower end reflecting remote owners paying full management fees and the higher end representing hands-on local investors.
The three main cost categories that eat into your gross yield in Peru are the 5% rental income tax (paid monthly to SUNAT), building maintenance fees called "mantenimiento" (which run $50 to $150 per month in Lima), and property management fees of 8% to 10% if you're managing remotely.
You might want to check our latest analysis about gross and net rental yields in Peru.
What monthly rent can I get in Peru in 2026?
As of early 2026, typical monthly rents in Lima's desirable districts run approximately $350 to $420 (1,300 to 1,550 soles, or 320 to 390 euros) for a studio, $550 to $650 (2,050 to 2,400 soles, or 510 to 600 euros) for a one-bedroom, and $750 to $900 (2,800 to 3,350 soles, or 690 to 830 euros) for a two-bedroom apartment.
A realistic entry-level rent for a decent studio in Peru starts around $330 to $400 per month (1,230 to 1,490 soles, or 305 to 370 euros) in solid middle-tier neighborhoods like Jesús María or San Miguel.
For a typical one-bedroom apartment in Lima, expect to charge somewhere between $520 and $650 per month (1,940 to 2,420 soles, or 480 to 600 euros) depending on the building quality and exact location.
A standard two-bedroom apartment in Lima's better areas commands roughly $700 to $900 per month (2,600 to 3,350 soles, or 645 to 830 euros), with premium districts like Miraflores and San Isidro pushing toward the higher end.
If you want to know more about this topic, you can read our guide about rents and rental incomes 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.
What are the real numbers I should budget for renting out in Peru in 2026?
What's the total "all-in" monthly cost to hold a rental in Peru in 2026?
As of early 2026, the total all-in monthly cost to hold a typical rental apartment in Lima runs approximately $170 to $300 (630 to 1,120 soles, or 155 to 275 euros) before property management fees, which add another 8% to 10% of rent if you're overseas.
The realistic range for most standard rental properties in Peru spans from about $150 per month (560 soles, 140 euros) for a modest unit with low HOA fees up to $350 per month (1,300 soles, 320 euros) for a larger apartment in a full-service building.
The single largest cost category for rental property owners in Peru is typically the monthly "mantenimiento" (HOA and building maintenance fee), which can reach $100 to $150 per month in Lima buildings with doormen, elevators, and common areas.
You want to go into more details? Check our list of property taxes and fees you have to pay when buying a property in Peru.
What's the typical vacancy rate in Peru in 2026?
As of early 2026, the typical vacancy rate for well-located rental properties in Lima ranges from about 5% to 8%, while properties outside the capital tend to experience 8% to 12% vacancy.
A landlord in Lima should realistically budget for roughly 0.5 to 1 month of vacancy per year to account for tenant turnover, apartment refresh time, and the search for quality renters.
The main factor driving vacancy differences across Peru's neighborhoods is proximity to employment centers and transit, with districts like Miraflores, San Isidro, and Surco enjoying faster tenant placement than peripheral areas.
Tenant turnover in Lima typically peaks in January and February (after the holiday season) and again in July (mid-year job changes), so landlords often experience slightly higher vacancy during these months.
We have a whole part covering the best rental strategies in our pack about buying a property in Peru.
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Where do rentals perform best in Peru in 2026?
Which neighborhoods have the highest long-term demand in Peru in 2026?
As of early 2026, the three neighborhoods with the highest overall long-term rental demand in Lima are Miraflores, Santiago de Surco, and San Borja, all of which appear consistently in BCRP's tracked district data as active and liquid rental markets.
Families looking for long-term rentals in Peru tend to concentrate in La Molina, San Borja, and parts of Surco, where larger apartments, good schools, and quieter streets meet their needs.
Students drive strong rental demand in San Miguel (near PUCP university), Pueblo Libre, and Jesús María, where affordable rents and good transit access make these neighborhoods popular with young renters.
Expats and international professionals cluster heavily in Miraflores, San Isidro, and Barranco, attracted by walkability, restaurants, furnished apartment availability, and a sense of safety.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Peru.
Which neighborhoods have the best yield in Peru in 2026?
As of early 2026, the three neighborhoods with the best rental yields in Lima are Lince, Magdalena del Mar, and San Miguel, where purchase prices remain moderate while rents stay competitive.
These top-yielding Lima neighborhoods offer estimated gross rental yields in the range of 6.5% to 7.5%, compared to 5% to 6% in pricier districts like La Molina or Pueblo Libre.
The main characteristic allowing these neighborhoods to achieve higher yields is their "sweet spot" positioning: they attract working professionals and young families with solid incomes, but property prices have not yet caught up to premium-district levels.
We cover a lot of neighborhoods and provide a lot of updated data in our pack about real estate in Peru.
Where do tenants pay the highest rents in Peru in 2026?
As of early 2026, the three neighborhoods where tenants pay the highest rents in Lima are Barranco, Miraflores, and San Isidro, with annual rents averaging around $139 to $140 per square meter (520 to 520 soles, or 128 to 129 euros per square meter).
A standard one-bedroom apartment in these premium Lima neighborhoods typically rents for $700 to $900 per month (2,600 to 3,350 soles, or 645 to 830 euros), with well-finished units pushing above $1,000.
The main characteristic driving premium rents in these areas is their combination of coastal access, walkable dining and nightlife, perceived safety, and concentration of corporate offices that create demand from professionals willing to pay more.
Tenants in these highest-rent neighborhoods tend to be corporate executives, embassy staff, remote workers from abroad, and upper-middle-class Peruvian professionals who prioritize lifestyle and convenience over saving on rent.
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.
What do tenants actually want in Peru in 2026?
What features increase rent the most in Peru in 2026?
As of early 2026, the three property features that increase monthly rent the most in Peru are dedicated parking (essential in car-heavy Lima), 24-hour security with controlled building access, and reliable high-speed internet infrastructure already installed in the unit.
Dedicated parking alone can add a 10% to 15% rent premium in Lima's dense districts like Miraflores and San Isidro, where street parking is scarce and tenants will pay extra for convenience and security.
One commonly overrated feature in Peru is luxury kitchen finishes, as most tenants care more about functional appliances and storage than granite countertops or designer fixtures that landlords overspend on.
A high-return affordable upgrade for Peru landlords is installing blackout curtains and ensuring the apartment has good natural ventilation, since Lima's climate makes temperature control and light management surprisingly valuable to renters.
Do furnished rentals rent faster in Peru in 2026?
As of early 2026, furnished apartments in Lima's expat-heavy neighborhoods like Miraflores and Barranco typically rent 1 to 3 weeks faster than unfurnished units because they attract relocating professionals and international tenants who need immediate move-in.
Furnished rentals in Peru generally command a 15% to 25% rent premium over unfurnished equivalents, though this comes with higher wear-and-tear costs and the need to replace furniture every few years.
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How regulated is long-term renting in Peru right now?
Can I freely set rent prices in Peru right now?
Landlords in Peru have full freedom to set initial rent prices at whatever level the market will bear, as the country does not impose rent control or government-mandated price ceilings on residential leases.
Rent increases during a tenancy are also unregulated in Peru, meaning landlords and tenants negotiate adjustments directly, though it is wise to specify the increase mechanism (timing, percentage, or currency indexing) clearly in the lease contract.
What's the standard lease length in Peru right now?
The most common lease length for residential rentals in Peru is 12 months, though 6-month leases are also popular in furnished or expat-oriented markets, and Peru's Civil Code allows fixed-term leases up to a maximum of 10 years.
Security deposits in Peru are typically 1 to 2 months' rent (roughly $500 to $1,800, or 1,850 to 6,700 soles, or 460 to 1,660 euros for a standard apartment), with no strict legal cap but strong market norms.
Returning the deposit in Peru depends on what the lease says, and landlords are expected to return it promptly at lease end minus documented deductions for damages, though there is no single statutory deadline mandating a specific number of days.
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.
How does short-term renting really work in Peru in 2026?
Is Airbnb legal in Peru right now?
Airbnb-style short-term rentals are legal in Peru, and there is no national law prohibiting property owners from listing their homes on platforms like Airbnb, Booking.com, or Vrbo.
Peru does not currently require a specific short-term rental license at the national level, though hosts should check their building's internal regulations and any municipal requirements in their district, as some condo associations prohibit or restrict STR activity.
There is no universal annual night limit or cap on how many days per year you can rent short-term in Peru, unlike cities such as Paris or Amsterdam that impose strict day limits.
The most common consequence for non-compliant short-term rentals in Peru tends to be building-level enforcement (fines from your HOA or lease termination) rather than government penalties, though failing to register foreign guests with Migraciones since December 2024 can trigger immigration-related sanctions.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Peru.
What's the average short-term occupancy in Peru in 2026?
As of early 2026, the average annual occupancy rate for short-term rentals in Lima is approximately 51%, while Cusco averages around 46% and Arequipa sits closer to 40%.
The realistic occupancy range for most short-term rentals in Peru spans from about 35% for poorly optimized listings up to 65% or higher for professionally managed properties with strong reviews and competitive pricing.
Peak occupancy months for short-term rentals in Peru typically fall between June and September (dry season in the highlands, winter holidays, and international tourism peaks) and again in December through January (summer holidays for South Americans).
The lowest occupancy months in Peru are generally March through May and October through November, when tourism slows and business travel dips, leaving many STR operators with significant vacancy.
Finally, please note that you can find much more granular data about this topic in our property pack about Peru.
What's the average nightly rate in Peru in 2026?
As of early 2026, the average nightly rate for short-term rentals is approximately $59 (220 soles, 54 euros) in Lima, $35 (130 soles, 32 euros) in Cusco, and $38 (140 soles, 35 euros) in Arequipa.
The realistic nightly rate range in Lima spans from about $30 (110 soles, 28 euros) for basic listings in less central areas up to $120 or more (450 soles, 110 euros) for premium apartments in Miraflores or Barranco with ocean views.
The typical nightly rate difference between peak season and off-season in Peru is roughly 20% to 40%, meaning a Lima listing averaging $60 per night in July might drop to $40 to $50 during slower months like April.
Is short-term rental supply saturated in Peru in 2026?
As of early 2026, Lima's short-term rental market shows meaningful saturation with over 27,000 active listings, meaning success requires professional operations, strong reviews, and competitive pricing rather than simply existing on the platform.
The number of active STR listings in Lima has been growing steadily, with new supply continuing to enter the market even as occupancy rates hover around 50%, signaling ongoing competitive pressure.
The most oversaturated neighborhoods for short-term rentals in Peru are Miraflores and the historic center of Cusco, where listing density is high and price competition is fierce.
Neighborhoods that still have room for new short-term rental supply in Peru include Barranco (for design-forward boutique stays), San Isidro (for business travelers), and emerging districts in Arequipa's historic core where quality listings remain limited.
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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 |
|---|---|---|
| Banco Central de Reserva del Perú (BCRP) | Peru's central bank publishes official housing market statistics quarterly. | We used BCRP data to anchor Lima's rent-per-square-meter, sale prices, and price-to-rent ratios by district. We then converted these figures into realistic rent ranges for studios, one-bedrooms, and two-bedrooms. |
| BCRP Exchange Rate Database | The official central bank source for sol/USD exchange rates. | We used this to translate all rents and costs between soles, dollars, and euros consistently for early 2026. We avoided made-up exchange rate assumptions throughout our calculations. |
| Peruvian Constitution (Congress) | The official source for Peru's constitutional rules on property ownership. | We used it to confirm the core foreign ownership rule and the 50-kilometer border restriction. We translated the legal language into practical guidance for investors. |
| SUNAT (Peru Tax Authority) | The official tax authority explaining rental income tax for individuals. | We used SUNAT's guidance to pin the 5% gross rent tax that most small landlords pay. We reflected this in our net yield calculations and monthly budgeting advice. |
| AirDNA (Lima, Cusco, Arequipa) | A widely used short-term rental data provider with transparent metrics. | We used AirDNA to anchor Lima's STR occupancy (51%), ADR ($59), and listing count (27,000+). We compared these figures across Peruvian cities to assess saturation and profitability. |
| Migraciones Peru | Peru's migration authority describing current compliance obligations. | We used it to explain the foreign guest registration requirement that took effect in December 2024. We clarified how this affects both long-term leasing and Airbnb-style stays. |
| MINJUS (Justice Ministry) | The Justice Ministry explaining Peru's fast-eviction framework. | We used it to show that lease enforcement can be faster with proper drafting. We listed the specific notary requirements landlords should request. |
| SBS (Banking Regulator) | Peru's banking supervisor with authority on account-opening rules. | We used it to confirm that foreigners can open basic accounts with expanded ID documents. We connected this to the practical question of collecting rent locally. |
| MINCETUR (Tourism Ministry) | Peru's national tourism authority publishing official arrival statistics. | We used arrival counts to ground the STR demand story in real numbers. We translated tourism volume into seasonality and pricing insights by city. |
| SUNARP (Property Registry) | Peru's official property registry authority for formalizing ownership. | We used it to explain how ownership is registered and made enforceable. We emphasized the importance of proper title registration for foreign investors. |
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.
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