2-bedroom apartment in San Isidro, Lima: yields (2026)
n = 931 Airbnb listings · 993 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
San Isidro, two bedrooms: Airbnb is the stronger play, and the size of the gap is the whole story. About 6.4% gross long-term against roughly 9.0% gross on short stays, a spread of near 2.8 points. That is not a rounding error, and it is why this size in this district keeps pulling owners toward the short-stay side.
Read the labels before you get excited. Both of those are gross. The long-term figure subtracts property tax, arbitrios, rental income tax and a 3% vacancy allowance, and it does not subtract 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. Neither figure subtracts furnishing or fit-out, cleaning, turnover or consumables, or management fees, because the owner self-manages on both sides.
So the honest comparison is not 6.4 against 9.0 as they sit. The Airbnb side carries the costs a tenant would otherwise absorb, and the owner absorbs them instead. The spread is real and it is wide enough to survive that, but it is not free money, and the work is yours.
Who it suits: someone who lives in Lima, knows San Isidro, and can handle turnovers and guest messages without paying a manager. If you are buying from abroad and want the money to arrive without you touching it, take the long-term tenant and the lower number. If you want the higher one, you are buying a second job, and the model assumes you show up for it.
Where the data is thin: these are gross yields on a 2-bed in one district, held steady between real moves, so treat them as approximations rather than quotes. I have not seen the net figures for this exact unit, and I would not sign on the gross alone. Not investment advice.