Investing in a 2-bedroom apartment in Jesús María, Lima

Let's get the numbers out first. A 2-bedroom apartment in Jesús María yields about 7.2% gross on a long-term lease. The same unit on Airbnb runs around 2.0% gross. That's not a close call.

The gap is wide enough that I don't need to hedge much: for a 2-bed here, long-term is the stronger play. You're looking at more than three times the gross yield by simply renting to someone on a standard contract instead of chasing nightly bookings.

Keep in mind these are gross figures. They don't account for management, maintenance, vacancy, or the extra work and turnover costs Airbnb brings. Short-term rentals are more hands-on and more volatile, and at 2.0% gross the effort here doesn't look justified by the math.

This suits an investor who wants a steady, low-drama income stream rather than a hospitality side business. If you're set on Airbnb for lifestyle reasons or occasional personal use, fine, but don't expect it to compete on returns in this district and size.

One caveat: I'm quoting gross yields for one district and one apartment size. I don't have net figures, price levels, or occupancy assumptions here, so treat this as a starting comparison, not a full model. Not investment advice.

Related: Jesús María overview · Best district by size