4-bedroom apartment in Surco, Lima: yields (2026)
n = 840 Airbnb listings · 1,516 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
A 4-bedroom in Surco pays you more for the boring option: about 6.3% gross long-term against roughly 5.6% on Airbnb. That is the whole case in one line, and it is unusual, because in most of Lima the short-let number is the one that flatters.
The long-term figure is gross, so property tax, arbitrios and rental income tax still come off it, along with a 3% vacancy allowance. It does not carry 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. On both sides the owner self-manages. Neither figure accounts for furnishing or fit-out, cleaning and turnover, or management fees, so do not treat either as the money that lands in your account.
Four bedrooms is the reason the short-let side does not run away with it. A flat this size on Airbnb is a group booking, and groups are the segment that punishes a thin operation: the nights you lose to gaps and the wear you absorb are yours, not a guest's. The long-term let hands that flat to a family or a share of professionals and lets you stop thinking about it.
So this size in Surco suits the investor who wants a tenant and a quiet calendar, not the one building a hospitality business. If you are buying four bedrooms to run as a short-let, the numbers here are telling you that you are doing more work for less gross yield. If you want the Airbnb route, the case for it is stronger in smaller units, where the nightly rate holds up against the same fixed costs.
One caveat: these are approximate gross yields held steady between real moves, and the tables on the page may show slightly different exact values. Treat them as a direction, not a valuation. Not investment advice.