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

The numbers are close, so let me lay them out plainly. Pueblo Libre nets 3.9% on long-term rentals; Surco nets 3.6%. Median price per square metre is $1,747 in Pueblo Libre and $1,779 in Surco. So Pueblo Libre is both slightly cheaper to buy into and slightly higher yielding on long-term lets. That's the whole case in one sentence.

The Airbnb picture flips it. On gross short-term yield, Surco runs 1.7% against Pueblo Libre's 0.8% — more than double. If your plan is short-term rentals, Surco is clearly the stronger of the two on these figures. I don't have net Airbnb numbers here, only gross, so treat that 1.7% as before costs and vacancy, not money in your pocket.

For a long-term buy-and-hold investor, Pueblo Libre wins. You pay less per square metre and collect a higher net long-term yield. The margin is small — 0.3 points and about $32/m² — so nobody's getting rich off the gap, but the direction is consistent.

Both yields are low in absolute terms. Under 4% net on long-term means you're leaning on capital appreciation and currency, neither of which is in this data. I can't speak to those from the figures given.

My pick, on these numbers: Pueblo Libre for long-term letting, Surco if you're set on Airbnb. This is not investment advice, and the whole comparison rests on four data points.

Related: Pueblo Libre · Surco · Lima Yield Index