Long-term wins here, and comfortably -- about 1.3 times the Airbnb return, and remember the long-term figure is net while the Airbnb one is still gross. With 20% occupancy and a shallow listing pool, short-term letting looks like the harder road in San Miguel. As always, these are averages, not a promise for any single unit.
Higher return
3.8%
Long-term net yield
2.9%
Airbnb gross yield
What San Miguel is
San Miguel sits on Lima's western coast — a family-oriented residential district with a big shopping centre, a long seafront, and universities nearby. Affordable and steady, it leans toward family and student long-term rentals. Who buys here: investors after low entry prices and dependable local demand rather than tourist income.
10 tracked San Miguel listings mapped · 15 Airbnb listings. Pins are approximate; verify any specific address.
Long-term rental
Median price
$1,693/m²
Median rent
$9.3/m²
Net yield
3.8%
Long-term rentals net about 3.8% here, with sale prices around USD 1,693 per m2 and rents near USD 9.3 per m2 per month. That net figure is already after running costs, so it's the number you actually keep.
Airbnb / short-term
Avg nightly rate
$42
Occupancy
20%
Gross yield
2.9%
The Airbnb picture is weak: 2.9% gross yield, and that's before any Airbnb-specific costs. It's built on a USD 42 average nightly rate, just 20% occupancy, and roughly USD 3,493 in annual revenue, across a thin market of only 15 listings.
Long-term or Airbnb? The verdict
Factor
Long-term
Airbnb
Headline return
3.8% net
2.9% gross
Effort
Passive
Active
Income stability
Steady
Seasonal
Regulatory risk
Low
Rising
What you need to know
Mantenimiento (HOA)~$53 / month
Common amenitiesAscensor, Lavandería, Seguridad, Gimnasio
Market data as of2026-07-21
⚠️ Before you buy: Check the HOA, listed at USD 53 a month, against the actual building, and confirm real occupancy in the specific block before assuming the Airbnb math improves.