2-bedroom apartment in Magdalena, Lima: yields (2026)
n = 463 Airbnb listings · 281 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
For a 2-bedroom in Magdalena, the short-term let is the stronger play: about 9.7% gross against roughly 5.8% long-term. That is a gap of about 3.8 percentage points, and it is the widest I have seen for this size in the district.
The long-term figure is net of property tax, arbitrios, rental income tax and a 3% vacancy allowance, but not mantenimiento, because in a Lima long-term let the tenant pays that. The Airbnb figure subtracts the platform fee, host-paid utilities and internet, income tax, mantenimiento, property tax and arbitrios. Both assume you self-manage.
The catch is the work. Airbnb at 9.7% gross means you are running a small hotel: cleaning, turnover, guest communication, and the host pays the mantenimiento. Long-term at 5.8% is a tenant who pays the building fee and mostly leaves you alone. The 3.8-point premium is real, but it is not free money.
Who does this suit? If you live in Lima or visit often, and you do not mind the operational drag, the Airbnb number is worth chasing. If you are buying from abroad and want a quiet asset, the long-term yield is thinner but far less demanding. I would not buy this size in Magdalena for the long-term yield alone unless you value the simplicity.
The figures are approximate and held steady between real moves, so the tables on the page may show slightly different values. The gap is the headline: about 3.8 points, and it is the reason I would lean short-term here.