Despite the economic recession, the real estate and construction sector continues to rise. That is why, if you are looking for invest in a market You can’t lose, buying an apartment or house and then renting it is a great option.
“It is always a good year to invest in real estate. “It is an asset that not only generates income if it is rented, or allows savings if it is used to live in it yourself, but it also gains value over time,” he told The Republic the commercial manager of Urbania and Adondevivir, Eduardo González-Prada.
That is why in this note we share the most profitable districts in which you can invest to generate income from rentals with data as of the end of November 2023.
Top most profitable areas and districts for rent
This is the top 10 areas and districts that have a better return rate in Lima:
- San Miguel Waterfront (6.3%)
- Southwest of Cercado de Lima (6.2%)
- La Molina (5.5%)
- Surquillo (5.5%)
- Magdalena (5.4%)
- Jesús María (5.3%).
- San Isidro (4.5%)
- Miraflores (4.4%)
- Furrow (4.4%)
- San Borja (4.2%).
Prices per square meter: which districts are more expensive?
The districts with the highest prices per square meter for sale are La Victoria and Chorrillos. The average price of 1 square meter is S/6,624. Although it is far from the peak of S/6,728 seen in mid-2021, it is well above the S/5,481 at the beginning of 2017.
Leandro Molina, the manager of the QuintoAndar Group, explains that the notable increase in La Victoria is due to the dynamic real estate development activity in areas such as Santa Catalina (La Victoria), especially due to its proximity to highly sought-after places, such as Lince and San Isidro. . In the case of Chorrillos, its popularity is due to the fact that it is presented as an attractive alternative to living in front of the sea, with more affordable costs compared to Miraflores and Barranco.
On the other hand, in Los Olivos, the average price experienced a decrease of 6.7% in November. This is attributed to the increase in interest rates during much of 2023, which led real estate companies to adjust the price per square meter downwards, with the aim of making it more accessible to potential buyers, according to Molina.
How much do rentals cost in Lima?
The average rental cost for a 100 m² home is S/2,861 per month. In real terms, it has experienced a decrease of 1.1% in the last 12 months, although it is still higher than the S/2,465 registered six years ago. The areas of Barranco, San Isidro and Miraflores show the highest prices, reaching peaks of S/3,817. In terms of areas, the financial center of San Isidro has a monthly average of S/4,406, followed by traditional Barranco with S/3,936.
In contrast, Jesús María and Magdalena have experienced increases of 9.2% and 12% in their averages, respectively. This is because these areas concentrate greater investment in real estate construction. Thus, they offer a variety of home sizes and target not only traditional families, but also young people and couples without children.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
