According to a recent report from Urbania, the price per square meter (m2) in metropolitan Lima reached S/6,706. There is a real drop of 1.1% from the item in monthly terms, but, year-on-year, it fell 0.8%. As La República has been reporting, prices are not expected to decline.
According to the study of the specialized front, Barranco is the most expensive district in the capital. The m2 fills an average of S/9,386. San Isidro follows with S/9,159 and Miraflores with S/8,699.
However, again, Chorrillos and La Victoria are the districts in which there was a greater variation in the price per m2: 13.5% and 12.5%, respectively.
From the QuintoAndar Group they have explained to this journalistic house that the increase in La Victoria is due to the development of more residential works in the Santa Catalina area and its proximity to key avenues such as Canada, Aviación, Nicolás Arriola, Javier Prado Este and Paseo de la República, while Chorrillos is seen as a cheaper alternative for beachfront apartments.
Urbania adds that brand new apartments are the ones with the most marked increase. In general terms, the sale of a home in the capital, for a 60 m2 house, is S/416,504, with two bedrooms. One of three spaces amounts to S/647,033.
On the other side of the coin, it appears that San Martín de Porres, La Perla and Los Olivos have a drop of 3.2%, 3.7% and 4.0% in their average m2 values. Construction unions such as Capeco have also warned that a reduction in real estate prices is not expected for the current period, despite the slight decline in the costs of some vital materials for the activity.
When will I get back if I rent it?
The average rental price is S/2,968, for a 100 m2 home and a parking lot. The districts with the highest price are Barranco, with S/3,969, and San Isidro, with S/3,526. Miraflores and Lince complete the podium with S/3,370 and S/3,233, respectively.
On the other hand, the most comfortable prices are found in Los Olivos and SMP, with less than S/1,500. “In 2024 there is an increase of 3.2%, 1.2 percentage points above inflation. In the year-on-year comparison, the price advances slightly above inflation,” they say from Urbania.
To date, the profitability of a property is 5.02%. It takes just under 20 years to repay the purchase investment, 2.6% less than a year ago. The most profitable districts are Cercado de Lima (6.8%) and Surquillo (5.7%). The annual rent-price ratio remains stable at 5.02%. Meanwhile, the least profitable are San Isidro, Miraflores and Santiago de Surco, with 4.6% each.
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.
