3-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 →
For a 3-bedroom apartment in Barranco, the gross numbers point one way: Airbnb runs about 7.4%, against roughly 5.3% long-term. That gap of near 1.9 percentage points is real, but it is gross. The net story depends on who pays what.
The long-term figure subtracts property tax, arbitrios, rental income tax and a 3% vacancy allowance. It does not subtract mantenimiento, because in a Lima long-term let the tenant pays that, not the landlord. The Airbnb figure subtracts the platform fee, host-paid utilities and internet, income tax, mantenimiento (the host pays it here), property tax and arbitrios. Both assume you self-manage.
On net, the Airbnb edge thins. The long-term yield is effectively a tie - about 5.3% against 7.4% gross - and I would still take the tenant, for far less work. Airbnb only pulls ahead if you run it well enough to approach that top-quartile occupancy, which most owners do not.
Who does this suit? If you live in Lima or visit often, can handle guest turnover and cleaning coordination yourself, and want the higher gross, the 3-bed in Barranco is a reasonable Airbnb bet. If you are remote and want a hands-off asset, the long-term let is the safer call - the yield is lower, but the costs are fewer and the work is lighter.
The model does not subtract furnishing, cleaning, turnover or management fees on either side. Those will hit your pocket regardless, so factor them in before you commit.