Magdalena vs San Isidro: which is the better rental investment in Lima? (2026)

The short version: Magdalena beats San Isidro on both yield measures I have here. Long-term, Magdalena nets 3.9% against San Isidro's 3.6%. On Airbnb gross, Magdalena runs 1.9% versus 1.3%. Neither number is going to make anyone rich, but the gap is consistent.

The bigger difference is the entry price. Magdalena's median is $1,905/m², San Isidro's is $2,564/m² -- roughly 35% more per square meter. You pay a premium for the San Isidro name and get lower yields in return. That combination is hard to argue for if you're buying purely to rent.

The Airbnb figures here are gross, not net, so treat them carefully. A 1.9% gross return doesn't survive management fees, vacancy and furnishing costs the way the number suggests. I'd lean on the long-term yields for any real comparison, and there too Magdalena is ahead.

So the pick is Magdalena: higher long-term yield, higher gross Airbnb, and a lower price per square meter. The case is straightforward on these numbers.

What I don't have here is the detail that would change a decision -- vacancy rates, service charges, how the two rental markets actually behave month to month. The headline yields point one way, but they're thin on their own. This isn't investment advice.

Related: Magdalena · San Isidro · Lima Yield Index