A resilient economy in an uncertain global context
Peru has for several years ranked among the most dynamic emerging economies in South America. According to World Bank data, Peruvian GDP grew by approximately +3.3% in 2024; recent forecasts for 2025-2026 generally sit around 2.7% to 3.4% depending on the international institution, performances above the Latin American regional average.
For 2026, the IMF, the World Bank and the OECD converge on cautious forecasts of around +2.7% to +2.9%, keeping Peru on a moderate growth trajectory. Inflation, which had reached worrying levels in 2022-2023, fell back to 1.5% in 2025, according to data from the Banco Central de Reserva del Perú (BCRP). The budget deficit stands at around 2.2% of GDP, a manageable level for an emerging economy.
These performances are partly explained by the wealth of the Peruvian subsoil: Peru ranks among the world's leading producers of copper, zinc, silver and gold. Mining revenues form a foreign-currency base that stabilises the country's balance of payments and indirectly feeds the urban middle class.
An expanding middle class
The INEI (Peru's National Institute of Statistics and Informatics) estimates that the Peruvian middle class represented between 30% and 34% of the population depending on the source, compared to around 20% in the early 2000s. This trend supports demand for quality housing in Lima, particularly in intermediate and premium districts. For a foreign investor looking to rent out their property, this dynamic is a favourable contextual factor.
The Lima real estate market in 2025–2026
Lima Metropolitana is home to more than 10 million inhabitants, close to 30% of Peru's population. This is where most of the formal real estate market accessible to international investors is located.
By comparison, Lima alone has more inhabitants than the whole of Switzerland, which has around 9.1 million, and nearly five times more than French-speaking Switzerland. This concentration gives an idea of the scale and diversity of the opportunities available on the ground.
According to data aggregated by GlobalPropertyGuide and reports from the Peruvian real estate sector, the average price per square metre in Lima's intermediate districts is between USD 1,500 and 1,800/m². In premium areas (Miraflores, San Isidro, Barranco), prices reach USD 2,500 to 3,500/m², or even more for exceptional properties.
Price trends since 2020 are difficult to quantify precisely due to the lack of consolidated official data across the entire market. Demand in prime districts remains driven by a structural shortage of formal housing and growing access to local mortgage credit.
Rental yields that remain competitive
Gross rental yields in Lima's premium districts are estimated by GlobalPropertyGuide at between 5% and 7% per year (indicative gross yields) for apartments in Miraflores and San Isidro. These figures are indicative and must be weighed against the applicable taxation (see dedicated section), management fees and the risk of rental vacancy. They do not constitute a guarantee of return.
For comparison, gross rental yields in major Swiss or French cities are generally between 2% and 3.5%, at much higher price levels. This difference partly explains European investors' interest in Lima.
Looking for a property in Lima?
Swiss Lima Property selects apartments in Lima's premium districts: Miraflores, San Isidro, Barranco. Browse our current selection or discuss your project directly with our team.
The rights of foreign investors in Peru
One of Peru's lesser-known strengths is its legal framework favourable to foreign investment. Article 71 of the Peruvian Constitution explicitly guarantees foreigners the same property rights as Peruvian citizens. No prior purchase authorisation is required within the meaning of Article 71. However, if you are physically present in Peru when signing the notarial deeds, some notaries may ask for a special Migraciones permit to sign documents or contracts depending on your immigration status (gob.pe/12614); to be verified with the chosen notary.
The only notable restriction concerns properties located within a 50-kilometre zone of the land borders, where acquisition by foreigners is limited. This restriction does not apply to Lima or to any of the coastal areas sought after by international investors.
A non-resident foreigner can therefore buy an apartment in Miraflores just as easily (as a matter of legal principle) as a Peruvian residing in Lima. In practice, the procedures involve specificities (obtaining a RUC from SUNAT, using a notary, verifying the public registers) that require rigorous local support.
Taxation applicable to non-residents
Please find all the information in our dedicated guide: Investing in Lima from Switzerland.
Lima: a metropolis in transformation
Lima is no longer the grey, polluted city of the late 20th century. The Peruvian capital has undergone a profound urban transformation since the 2000s, driven by the rise of its middle class, infrastructure investment and the growing appeal of districts such as Miraflores, Barranco and San Isidro.
The district of Miraflores, on the Pacific coast, has risen among the most sought-after residential districts in South America. It concentrates international hotels, world-renowned restaurants (Lima is a world gastronomic capital) and an active cultural scene. This international reputation fuels sustained rental demand, both from expatriates and from business travellers and long-stay tourists.
Peru has also created a migratory category for remote workers; its conditions, procedure and practical application must be verified with Migraciones at the time of application. This initiative helps diversify and strengthen rental demand in coastal districts.
Risks and points of vigilance
Important points of vigilance
- Political context: Peru regularly goes through periods of political change, but its economy has shown good resilience over the years. It remains useful to factor this context into a long-term investment view.
- Exchange-rate risk: properties in Lima are often listed in US dollars. For a Swiss or European buyer, movements between the USD, CHF, EUR and Peruvian sol can therefore influence the final cost and rental income.
- Property verification: as everywhere, it is important to check the legal situation of the property and its registration with SUNARP before purchase. We support our clients in these checks with the competent local professionals.
- Management from abroad: owning a property in Lima from Europe requires good organisation for letting, maintenance and administrative follow-up. A local partner makes managing these aspects much simpler.
- Resale: selling a property can take longer than in Switzerland or France. The choice of district, type of property and purchase price therefore plays an important role in its future appeal.
How Swiss Lima Property can support you
Swiss Lima Property supports you as a genuine bridge between Switzerland and Peru. Thanks to our extensive local network, you gain easier access to the right professionals: notaries, lawyers, real estate agents, rental managers, accountants and trusted tradespeople.
We help you understand the market, select the right contacts and coordinate all the procedures from Switzerland, so that your project moves forward in a clear, smooth and secure way.
Our on-the-ground knowledge of Lima (notably the districts of Miraflores, San Isidro and Barranco) allows us to present you with selected properties and put you in touch with vetted local professionals. We work in French, Spanish and English.
To find out more about our approach: About Swiss Lima Property. To discuss your project: contact us.