Jesús María vs Magdalena: better rental investment? (2026)
n = 1,108 Airbnb listings · 575 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
Jesús María takes this one, and not by much: about 5.1% net long-term against Magdalena's 4.8%. The two districts sit close enough that a single bad tenant or a mispriced listing flips the ranking, so treat the edge as real but thin.
What decides it for me is the entry price. Jesús María trades near $2,110 per m2 against roughly $2,140 in Magdalena, about 3.8% cheaper, or some $81 per m2 less. On a 70 m2 flat that is the difference between roughly $147,690 and roughly $149,820. You are paying less for the better net yield, which is the rare combination.
Both long-term figures are net. 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 carries that, not you. You self-manage on both sides, so no management fee comes off either.
Airbnb is where the story gets less comfortable. On gross short-term numbers Jesús María runs about 7.1% to Magdalena's 7.0% - effectively a tie, and a gross one. The Airbnb figure subtracts the platform fee, host-paid utilities and internet, income tax, mantenimiento, property tax and arbitrios. The host pays mantenimiento here because no guest reimburses it, and you still self-manage.
So the pick is Jesús María, on the cheaper square metre and the slightly better net yield, and I would take the tenant over the guest. Neither figure accounts for furnishing or fit-out, cleaning and turnover, or consumables, and I have no data on those for either district - if you plan to run short-term, price them yourself before you believe the 7.1%. Not investment advice.