Magdalena vs San Isidro: better rental investment? (2026)
n = 1,394 Airbnb listings · 1,274 sale listings · source: urbania.pe + airroi · as of 2026-09-17 · methodology →
Magdalena takes it on both counts that matter to a buyer: about 4.8% net long-term against San Isidro's roughly 4.4%, and a median near $2,140 per m2 against about $2,510. That is roughly 14.4% cheaper, or about $364 per m2 less. If you are the foreign buyer wiring money in, that gap is the whole argument.
Be honest about how thin the yield edge is. The two long-term figures sit within about 0.3 points of each other, which is too close to call on the headline number alone. So decide on price, on how easily you can resell, and on Airbnb upside - not on the yield.
On Airbnb the order flips, barely. San Isidro runs about 7.2% gross against Magdalena's roughly 7.0%, a gap of about 0.2 points. The Airbnb figure subtracts the platform fee, host-paid utilities and internet, income tax, mantenimiento, property tax and arbitrios, and the owner self-manages. The long-term figure subtracts property tax, arbitrios, rental income tax and a 3% vacancy allowance; mantenimiento is not in there because in a Lima long-term let the tenant pays it.
Neither side of the model subtracts furnishing or fit-out, cleaning and turnover, or management fees. If you would hire a manager or furnish the flat, that comes out of your pocket on top, and it hits the short-let harder.
My pick is Magdalena, on the cheaper entry price and the higher net long-term yield, with San Isidro's small Airbnb lead as the trade-off you accept. The data here is thin - one median price per m2, one yield pair - so treat it as a starting point, not a verdict. Not investment advice.