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

The short version: for long-term rentals, Jesús María edges it. It nets 3.8% against Miraflores's 3.5%, and you buy in cheaper at a median $2,017/m² versus $2,442/m². Lower entry price, higher yield. That's the case in two lines.

Miraflores flips the story on Airbnb. Gross short-term returns run 1.8% there against Jesús María's 0.9% -- double. That's not surprising: Miraflores is where tourists actually want to stay, and Jesús María is a quieter, more residential district that doesn't pull the same nightly demand. Note these are gross figures, so they say nothing about cleaning, management, vacancy or the regulatory risk that comes with short-term letting.

So the pick depends entirely on your strategy. If you want a long-term tenant and a lower purchase price, Jesús María is the better number on both counts. If you're set on running an Airbnb, Miraflores's 1.8% gross is worth twice as much on paper, and the premium price partly reflects that.

One caveat worth stating plainly: none of these yields are high. A 3.8% long-term net is modest, and a 0.9% or 1.8% gross Airbnb figure needs to survive costs before you compare it to anything. The data here covers yields, prices and Airbnb gross only -- not appreciation, taxes or financing, which will matter as much as the rent.

My read, on these numbers: Jesús María for a buy-and-hold long-term play, Miraflores if you're committed to short-term letting and can stomach the higher entry cost. This is not investment advice.

Related: Jesús María · Miraflores · Lima Yield Index