Barranco vs Miraflores: which is the better rental investment in Lima? (2026)

The two districts are close enough that you shouldn't expect either to make you rich on yield alone. On long-term rentals, Barranco nets 3.7% against Miraflores's 3.5%. That's a 0.2-point gap, real but small.

On price, Barranco is actually the more expensive of the two: median $2,529/m² versus Miraflores's $2,442/m². So Barranco costs more per square meter and still returns a bit more on long-term rent. That's the case for it.

The picture flips on Airbnb. Gross short-term yields run 1.5% in Barranco against 1.8% in Miraflores. If your plan is short-term letting, Miraflores has the edge. Note these are gross figures, so they don't account for cleaning, management, vacancy or the higher turnover work Airbnb demands.

My pick for a straightforward long-term hold is Barranco: better net yield despite the higher entry price. If you're set on Airbnb, Miraflores is the stronger number, but you're comparing a gross short-term figure to a net long-term one, so don't read too much into the raw spread.

Both sit in the low single digits, which is the honest headline here. The data I have covers yields, median price per square meter and Airbnb gross only, so treat this as a starting point, not a full underwriting. Not investment advice.

Related: Barranco · Miraflores · Lima Yield Index