2-bedroom apartment in Barranco, Lima: yields (2026)
n = 1,440 Airbnb listings · 417 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
Barranco is the one where the tenant beats the guest, and the numbers are close enough that you have to look twice: about 6.3% long-term gross against roughly 7.6% on Airbnb. That is a gap of about 1.3 percentage points, and it is the whole argument on this page.
The long-term figure is gross, so it sits before property tax, arbitrios, rental income tax and a vacancy allowance. The Airbnb figure is gross too, and it sits before the platform fee, the utilities and internet you pay as host, income tax, mantenimiento, property tax and arbitrios. On a long-term let the tenant pays mantenimiento; on Airbnb you do. Both sides assume you self-manage.
So the honest read is that the short-let headline is higher and the short-let reality is thinner than it looks. You are buying about 1.3 points of extra gross return and paying for it in bills, in turnover, and in the weeks the flat sits empty between bookings. The long-term side gives up that headline and keeps the flat working while you are somewhere else.
Who this suits: the buyer who wants a Lima flat to hold, let to a resident tenant, and check on twice a year. If you are in the city full time, enjoy running a listing, and can keep occupancy near the top of the range, the Airbnb case is real. If you are not, take the tenant. The 2-bed in Barranco is a long-term asset first, and the short-let number is the one you have to earn.
Not investment advice. The yields above are approximate and held steady between real moves, so the tables on the page may show a slightly different exact value.