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Property prices per square meter in Lima vary significantly across districts, ranging from USD 800 in emerging areas to USD 3,500 in premium neighborhoods like Miraflores and San Isidro.
As of September 2025, the average asking price citywide sits around USD 1,800 per square meter for apartments, with selling prices closely following at USD 1,500-1,800 per square meter. The Lima property market has shown consistent growth of approximately 5% annually over the past five years, with some premium districts experiencing up to 10% increases in 2025.
If you want to go deeper, you can check our pack of documents related to the real estate market in Lima, based on reliable facts and data, not opinions or rumors.
Lima's property market offers diverse price points from USD 800-3,500 per square meter depending on location and property type. Premium districts command the highest prices while emerging areas provide more affordable entry points with strong rental yields.
The market has maintained steady growth with low inflation-adjusted gains, making it attractive for both investors and end-users seeking capital appreciation and rental income opportunities.
| District Category | Price Range (USD/sqm) | Key Characteristics |
|---|---|---|
| Premium (Miraflores, San Isidro) | 2,500 - 3,500 | Luxury amenities, high demand, lower yields |
| Mid-range (San Borja, La Molina) | 1,500 - 2,500 | Good infrastructure, balanced investment |
| Emerging (Surquillo, Jesús María) | 1,000 - 1,800 | High rental yields, growth potential |
| Entry-level (San Juan de Lurigancho) | 800 - 1,200 | Affordable entry, highest yields |
| New Builds (Premium areas) | 2,800 - 3,800 | Modern amenities, premium pricing |
What is the average current asking price per square meter in Lima?
The average asking price per square meter in Lima currently stands at approximately USD 1,800 for apartments citywide as of September 2025.
This figure represents a significant variation across different districts and property types. Prime neighborhoods like Miraflores and San Isidro command asking prices between USD 2,500 to USD 3,500 per square meter, reflecting their premium location and amenities.
Emerging districts and lower-income areas start around USD 1,000 to USD 1,200 per square meter, offering more affordable entry points for buyers. Mid-range districts typically fall within the USD 1,500 to USD 2,200 range, providing a balance between location and affordability.
New luxury developments in premium areas can reach asking prices of USD 3,000 to USD 3,800 per square meter, particularly for properties with modern amenities and prime locations. The asking price variation reflects Lima's diverse real estate landscape and the city's economic stratification.
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What is the average current selling price per square meter in Lima?
The average selling price per square meter in Lima closely mirrors asking prices, ranging between USD 1,500 to USD 1,800 per square meter depending on the source and property type.
Actual transaction prices typically fall slightly below asking prices due to negotiation processes and market dynamics. In premium districts like San Isidro and Miraflores, selling prices range from USD 2,300 to USD 3,200 per square meter for quality properties.
Mid-range districts see selling prices between USD 1,400 to USD 2,000 per square meter, while emerging areas typically close transactions between USD 900 to USD 1,500 per square meter. The gap between asking and selling prices is generally smaller in high-demand areas and larger in emerging districts.
New construction properties tend to achieve prices closer to their asking rates, especially in desirable locations where demand exceeds supply. Market conditions and property condition significantly influence the final selling price achieved.
What is the typical price range per square meter in Lima from the lowest to the highest segment?
Lima's property market spans a wide price range from USD 800 to USD 3,500 per square meter, reflecting the city's diverse economic landscape and district variations.
Entry-level districts like San Juan de Lurigancho offer properties from USD 800 to USD 1,200 per square meter, providing affordable housing options for first-time buyers and investors seeking high rental yields.
Mid-range districts, often referred to as "Lima Moderna," command prices between USD 1,000 to USD 1,500 per square meter, offering good infrastructure and accessibility at moderate prices.
Premium districts represent the highest segment, with prices reaching USD 2,500 to USD 3,500 per square meter in areas like Miraflores, San Isidro, and upscale parts of Barranco. These areas offer superior amenities, security, and proximity to business centers.
The extreme high-end market, including luxury penthouses and exclusive developments, can exceed USD 3,500 per square meter, particularly for properties with ocean views or exceptional amenities.
How do prices per square meter vary by district or neighborhood in Lima?
| District | Price Range (USD/sqm) | Market Characteristics |
|---|---|---|
| Miraflores | 2,500 - 3,500 | Premium beachfront, tourist area, high demand |
| San Isidro | 2,800 - 3,500 | Financial district, luxury properties, corporate hub |
| Barranco | 2,000 - 2,800 | Cultural district, historic charm, artistic community |
| San Borja | 1,800 - 2,500 | Modern residential, good infrastructure, family-friendly |
| La Molina | 1,500 - 2,200 | Suburban feel, newer developments, growing area |
| Jesús María | 1,200 - 1,800 | Central location, mixed residential-commercial |
| Surquillo | 1,000 - 1,500 | Emerging area, high rental yields, improving infrastructure |
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What is the price per square meter for new builds versus older properties in Lima?
New construction properties in Lima command significant premiums over older properties, with new builds reaching USD 2,800 to USD 3,800 per square meter in top districts.
Older or secondary market properties typically trade at 10% to 25% below equivalent new builds, especially outside core neighborhoods. This discount reflects the need for potential renovations, outdated amenities, and modern building standards found in new developments.
In premium districts like Miraflores and San Isidro, well-maintained older properties can still achieve competitive prices, particularly those with unique architectural features or prime locations. However, new builds consistently outperform in terms of per-square-meter pricing.
The premium for new construction reflects modern amenities, energy efficiency, updated safety standards, and contemporary design preferences. Buyers increasingly value modern conveniences, leading to sustained demand for new developments despite higher costs.
What is the price per square meter for apartments compared to houses in Lima?
Apartments and houses in Lima show relatively similar per-square-meter pricing, with apartments maintaining consistent pricing with citywide averages across different districts.
Houses typically command slightly lower per-square-meter prices in suburban areas like La Molina or Surco, where land availability allows for larger lot sizes and more spacious construction. However, in prestigious central districts, houses can match or exceed apartment pricing.
The apartment market dominates Lima's real estate landscape due to space constraints and urban density, making apartments the primary investment vehicle for most buyers. Premium apartments in high-rise buildings with amenities often achieve higher per-square-meter prices than equivalent houses.
Houses offer different value propositions including private outdoor space, parking, and privacy, but apartments provide better security, amenities, and maintenance convenience. The choice between apartments and houses often depends on lifestyle preferences rather than pure investment returns.
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What has been the monthly or yearly trend in price per square meter in Lima over the past five years?
Lima's property market has demonstrated consistent annual growth of approximately 5% per year since 2020, showing remarkable resilience through various economic cycles.
The 2024-2025 period has been particularly strong, with growth reaching up to 10% in top districts and a citywide average increase of 3% to 7% in 2025. This acceleration reflects improved economic conditions and increased demand from both domestic and international buyers.
The market experienced a brief pandemic-related dip in 2020-2021, but recovery began in earnest during 2022 with strong appreciation continuing through 2025. Premium districts have shown more volatile but generally higher growth rates compared to emerging areas.
Monthly trends show seasonal variations, with stronger performance typically seen in the first and fourth quarters as buyers time purchases around year-end bonuses and new year relocations. The sustained growth trajectory indicates a healthy, expanding market with strong underlying demand.
What is the price per square meter in Lima when adjusted for inflation?
Real property prices in Lima have increased materially when adjusted for inflation, as national inflation remains relatively low at 0.1% to 1.65% in recent months.
With nominal price gains of 3% to 7% citywide and up to 10% in premium areas, real price appreciation significantly outpaces inflation. This indicates genuine wealth creation and market strength rather than purely inflationary pressures.
The low inflation environment in Peru supports real estate as an attractive investment vehicle, as property appreciation provides genuine purchasing power gains for investors. This dynamic has contributed to sustained demand from both domestic and regional investors.
Historical analysis shows that Lima properties have consistently outperformed inflation over the past five years, making real estate an effective hedge against currency devaluation and economic uncertainty in the broader Latin American context.
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What is the average rental yield per square meter in Lima, and how does it compare to purchase prices?
Lima offers attractive gross rental yields averaging 6.0% to 6.5% citywide, with some emerging districts achieving yields above 7.5%.
Premium districts show lower but stable yields, with Miraflores achieving 5.2% to 5.6% and San Isidro ranging from 4.6% to 5.6%. While these yields are lower, they offer greater capital appreciation potential and rental stability.
Emerging districts like Surquillo can deliver yields up to 7.5%, reflecting lower purchase prices relative to rental demand. These areas attract investors seeking higher current income from their investments.
Smaller apartments typically generate higher yields due to strong rental demand from young professionals and students. The rental market remains robust across all price segments, supporting consistent income generation for property investors.
Compared to purchase prices, rental yields remain competitive with other investment options while offering the additional benefit of potential capital appreciation over time.
What are the main economic or political factors currently influencing price per square meter in Lima?
Economic growth and continued urbanization drive fundamental demand for Lima properties, as job migration and middle-class expansion create sustained housing needs.
Lower mortgage rates, with the average sitting at 8.32% in mid-2025, have improved affordability and boosted buyer demand across all market segments. Central bank monetary policy continues to support real estate investment through accessible financing.
Infrastructure investments including urban renewal projects and new metro lines stimulate growth in emerging districts, creating new investment opportunities and improving connectivity across the city.
Political stability and investor-friendly policies maintain Lima's position as a stable regional real estate market. The dollarized nature of many transactions attracts regional investors seeking currency stability and inflation protection.
While relatively low, persistent regional inflation concerns support property investment as a store of value, particularly for investors seeking to preserve purchasing power in an uncertain economic environment.
How do Lima's price per square meter figures compare to other major cities in Peru?
| City | Average Price (USD/sqm) | 2024-25 Price Change | Market Characteristics |
|---|---|---|---|
| Lima | 1,500 (up to 3,500 premium) | 3-7% (premium slower) | Largest market, diverse price points |
| Arequipa | 1,000 | 4.5-9% (stronger) | Growing regional center, mining economy |
| Cusco | 1,200 | 3.8% | Tourism-driven, UNESCO heritage |
| Trujillo | 950 | 5.5% | Agricultural center, emerging market |
| Tarapoto | 800 | 6.0% | Amazon region, high growth potential |
Lima consistently leads Peru in absolute pricing, especially at the premium end, but shows more moderate growth compared to some emerging regional markets that benefit from lower base prices and rapid development.
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What is the forecasted price per square meter in Lima for the next one to three years?
Lima property prices are forecast to continue moderate growth of 3% to 7% annually through 2026-2028, supported by strong underlying demand fundamentals and continued infrastructure development.
Core premium districts are expected to maintain high pricing with slower appreciation rates, while emerging districts will likely see stronger growth as infrastructure improvements and gentrification continue to enhance their attractiveness.
Infrastructure investments, including new metro lines and urban renewal projects, will create new growth corridors and support property appreciation in previously undervalued areas. Government support for homebuyers through various programs will maintain demand stability.
Risk factors including potential political instability or global economic shocks could impact these forecasts, but underlying trends including positive migration patterns, urbanization, and economic development support continued upward price momentum.
The forecast assumes continued macroeconomic stability and successful completion of planned infrastructure projects, which should support both capital appreciation and rental yield maintenance across the Lima market.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Lima remains Peru's premier real estate market, offering investors diverse opportunities from affordable emerging districts to premium luxury properties.
With consistent growth trends, attractive rental yields, and strong fundamentals, the Lima property market provides compelling investment opportunities for both capital appreciation and income generation.
Sources
- The LatinVestor - Lima Average Apartment Prices
- The LatinVestor - Peru Price Forecasts
- The LatinVestor - Lima Price Forecasts
- The LatinVestor - Lima Property
- The LatinVestor - Lima Which Area
- Statista - Peru Lima Apartment Square Meter Price
- Global Property Guide - Peru Square Meter Prices
- Global Property Guide - Peru Rental Yields