Can foreigners buy property in Peru?
Yes. Foreigners can buy and own property in Peru with essentially the same rights as Peruvian citizens — freehold ownership, in your own name, no local partner required. There's one constitutional exception: within 50 kilometres of an international border, foreigners can't own land except by special authorization. That rules out some jungle and highland border zones, but it has no effect on Lima or the coastal investor cities, which is where nearly all foreign buyers are looking.
You don't need residency
You do not need to be a resident to buy. What you do need is a Peruvian tax ID (RUC or the equivalent identification for the transaction) and, in practice, a local bank account to move funds cleanly. Many buyers grant a Peruvian lawyer power of attorney so the purchase can close without you being physically present for every step.
How the buying process works
The steps are recognisable but the paperwork is local:
- Check the title in SUNARP, Peru's public property registry. This confirms the seller actually owns it, and shows any mortgages or liens. Never skip this.
- Sign a purchase agreement (minuta), drafted by a lawyer.
- Notarise it — a Peruvian notary converts the minuta into a public deed (escritura pública).
- Register the transfer back in SUNARP so the property is legally in your name.
Taxes and costs to budget for
Beyond the price, expect: alcabala (a transfer tax, roughly 3% above an exempt threshold), notary and registry fees, and legal fees — together typically a few percent of the price. As an owner you'll pay annual predial (property tax) and municipal arbitrios. If you rent the place out as a non-resident, rental income is taxed at a flat rate. PeruYield's yield figures already net these ongoing costs out, so the returns you see are after-tax, after-cost — not gross broker numbers.
The one thing everyone underestimates
The mantenimiento (building maintenance / HOA), quoted in soles, can meaningfully dent your yield and is easy to overlook when you're focused on the headline price. Always confirm the real monthly figure, and check the building's own rules — some Lima condos now restrict or ban short-term (Airbnb) rentals outright.
Once you're comfortable that you can buy, the real question is where — and whether to rent long-term or run it on Airbnb. That's what the rest of PeruYield is for.
See the Lima Yield Index → · Long-term vs Airbnb →