The real estate market in Metropolitan Lima continues to evolve with variations in Purchase and rental prices of homes. During 2024, important changes were observed in various areas of the capital, which has led buyers and tenants to reconsider their options. While some districts have experienced notable increases in the value of the square meter, others have maintained affordable prices, generating a diverse market with opportunities for different budgets.
The factors that have influenced these movements include the Availability of landInvestment in infrastructure and increasing demand in certain areas. This has allowed some districts to offer cheaper alternatives for those who seek to acquire a home without leaving the city.
Ranking of the districts with the lowest prices to buy an apartment
According to the report of Urbaniathe districts with the lowest price per square meter in Lima are:
- San Martín de Porres
- Callao
- San Juan de Miraflores
- The olive trees
- San Juan de Lurigancho
These districts have maintained competitive prices due to factors as less demand compared to central areas and the supply of real estate projects at affordable prices. Likewise, the presence of available land and the development of infrastructure have contributed to these localities being viable options for new buyers.
Price of the square meter in Lima: What are the cheapest districts?
The report also highlights that, although some districts maintain lower prices per square meter, they have registered increases in their values in recent months. The victoryfor example, experienced a 6.5% increase in December 2024, followed by San Juan de Miraflores with 6.1%. These variations reflect the growing demand in these sectors and investment in larger residential projects.
On the other hand, Barranco continues to stand out as one of the districts with higher prices, with an average value of S/9,416 per square meter. They are followed by San Isidro, with S/9,197 and Miraflores with an average of S/8.716.
Real estate trends in Lima: how prices evolved in 2024
The year 2024 closed with an increase of 4.6% in the Square Metro Price in Limaa growth higher than that registered in 2023, but still below inflation, which stood at 1.8%. This market behavior reflects a stable trend with progressive increases driven by the demand for housing in different areas of the city.
In addition, the price of rentals also experienced a significant increase. According to Urbaniathe rent of a 100 m2 department in Lima rose 1.3% in December, reaching an average of S/3,073 per month. Districts such as Chorrillos and Lince reported the greatest variations, with increases of 15.8% and 12.5%, respectively.
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.
