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

Let's keep this simple. On long-term rentals, Surco nets 3.6% and Miraflores 3.5%. That's basically a tie on the yield line alone, but Surco has its nose in front.

The real gap is the purchase price. Miraflores sells for a median $2,442/m², Surco for $1,779/m². You're paying roughly 37% more per square metre in Miraflores for a slightly lower long-term yield. That's the crux of the comparison.

Airbnb reverses the ranking, but barely. Miraflores runs 1.8% gross, Surco 1.7%. A tenth of a percentage point, and note that's gross, not net, so I wouldn't lean on it. Both numbers are low enough that short-term letting isn't the reason to buy in either district on these figures.

On the data given, Surco is the pick: same-ish long-term yield, lower entry price. Miraflores only edges ahead on the gross Airbnb figure, and by a margin too thin to matter.

What these numbers don't tell you: vacancy, tenant quality, how liquid each market is on resale, or how the Airbnb rules might change. Treat this as a starting point, not investment advice.

Related: Miraflores · Surco · Lima Yield Index