Jesús María vs Pueblo Libre: better rental buy? (2026)
n = 965 Airbnb listings · 495 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
Jesús María and Pueblo Libre net the same long-term yield, about 5.1% each, so the headline number decides nothing. The decision is what you pay to get in, and Pueblo Libre is the cheaper door: about $1,798 per m2 against about $2,110 in Jesús María, roughly 13.7% less, or about $285 per m2. On a typical 70 m2 flat that is the difference between about $124,440 and about $147,690.
Both long-term figures are net. The long-term figure subtracts property tax, arbitrios, rental income tax and a 3% vacancy allowance. Neither long-term figure subtracts mantenimiento, because in a Lima long-term let the tenant pays that, not the landlord. Both sides assume the owner self-manages.
Airbnb is where they separate, and only slightly. Jesús María runs about 7.1% gross against Pueblo Libre's about 6.8%. The Airbnb figure subtracts the platform fee, host-paid utilities and internet, income tax, mantenimiento, property tax and arbitrios. Note that mantenimiento lands on the host here, since no guest reimburses it. Neither figure subtracts furnishing, cleaning, turnover or management fees, so do not treat those as already priced in.
My pick is Pueblo Libre. Same net yield, less capital per square metre, and the Airbnb gap is thin enough that a well-run Jesús María listing could close it. What you give up is the slightly stronger short-let number and whatever liquidity Jesús María's higher price implies. If you are buying to hold and rent long-term, paying more for the same return is the wrong trade.
The honest caveat: these figures are approximate and held steady between real moves, so the tables on the page may show slightly different values. The long-term yields sit within about 0.3 points of each other, which is too close to call on yield alone. Decide on price, liquidity and Airbnb upside. Not investment advice.