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

On paper these two are closer than the district names suggest. Long-term net yields are identical: 3.6% in San Isidro, 3.6% in Surco. If rental income is the only thing you care about, that's a dead heat, and I want to be clear about that up front rather than pretend one wins where it doesn't.

The gap is on price. San Isidro's median sits at $2,564/m², Surco's at $1,779/m². That's a difference of about $785 per square metre, or roughly 44% more in San Isidro for the same 3.6% net return. Same yield, higher entry cost, means you tie up considerably more capital in San Isidro to earn the same percentage. For a 100 m² unit that's around $78,500 in extra outlay.

On the short-term side, the numbers actually favour Surco: 1.7% gross on Airbnb versus 1.3% in San Isidro. Both figures are low, and note these are gross, not net, so they're not comparable to the long-term nets above. But the direction is Surco's.

So where the headline lands as 'San Isidro' on long-term yield, the honest read is a tie at 3.6% net, with San Isidro demanding far more capital to get there and lagging on Airbnb. On pure numbers here, Surco gives you the same long-term return for less money and a better gross Airbnb figure. San Isidro's case has to rest on things this data doesn't cover.

What's missing matters. I have no vacancy rates, no rent levels in dollars, no occupancy or nightly rates behind the Airbnb percentages, and no view on capital appreciation or how each district behaves in a downturn. San Isidro is Lima's financial core and that may justify the premium for reasons of liquidity and tenant quality, but I can't prove that from these figures. Treat this as a starting point, not investment advice.

Related: San Isidro · Surco · Lima Yield Index