Investing in a 3-bedroom apartment in Jesús María, Lima

Let's start with the numbers, because they're not close. A 3-bedroom apartment in Jesús María yields about 5.7% gross on a long-term rental. The same unit run on Airbnb comes in at roughly 0.6% gross. That's not a rounding difference, that's a category difference.

So for a 3-bed here, long-term is the stronger play by a wide margin. I don't say that lightly, but a 0.6% gross return on short-term lets tells you the market simply isn't there for a three-bedroom in this district. Tourists and short-stay visitors don't need three bedrooms in Jesús María, and it shows.

The 5.7% long-term figure is gross, so remember it's before maintenance, vacancy, property management, and taxes. What lands in your pocket will be lower. But even after those costs, it's a real number you can build a plan around, unlike the Airbnb figure.

Who does this suit? Someone who wants a stable, occupied unit with a family or professional tenant on a long lease, not someone chasing high turnover and nightly rates. If you were buying a 3-bed here specifically for Airbnb, these numbers argue against it.

One caveat: I only have the gross yields for this size in this district. I can't speak here to purchase prices, financing, or how a 1- or 2-bed would compare. This isn't investment advice, just the ground-level read on what the numbers say.

Related: Jesús María overview · Best district by size