Housing rental: Meet here the cheapest and most expensive districts in Lima

The inflation worldwide it impacts various sectors, including housing prices. According to Properati, the average rental ticket for a 2 and 3-bedroom apartment in Lima is US$600 (S/ 2,388).

In this regard, Daniela Maldonado, key account manager of the real estate agency, the rental price of a home will depend on the areasince in the capital you can find various properties that reflect the lifestyle of each person.

He added that the footage is a factor to take into account when choosing to rent a house or apartment.

How much footage are you looking for the most?

Maldonado stated that the general size in Lima is approximately 90 m². However, there are districts that offer more spacious housing, such as San Isidro or San Borja, where the average footage is 110 m².

On the other hand, there are districts with smaller areas like Ravine where the average is 65 m².

In addition to the size of the home, according to the expert, Peruvians consider price and comfort as two fundamental factors when renting a house or apartment.

“When choosing a property to rent, the transcendental factor is the price and the costs requested by the owner. In this personal analysis of each person, the relationship between price and quality of life plays an important role. The man from Lima seeks comfort according to the budget, especially in terms of security”, he commented.

What are the districts that offer cheaper rents?

The districts with the cheapest average rental ticket in the capital are: Carabayllo, Puente Piedra, Independencia, Comas and San Juan de Lurigancho.

These areas offer apartments with 2 and 3 bedrooms with an average rent of less than S/ 2,388. To calculate these values, Properati took into account the ads available in the last three months (between August and October).

Next, find out the 10 cheapest districts to rent a home in the city:

• Stone Bridge at US$ 216 (S/ 860)
• Villa El Salvador at US$ 237 (S/ 944)
• San Juan de Lurigancho US$ 259 (S/ 1,030)
• Carabayllo US$ 270 (S/ 1,074)
• San Martin de Porres US$ 274 (S/ 1,090)
• Eats US$ 288 (S/ 1,146)
• Lurigancho-Chosica US$ 306 (S/ 1,217)
• Rimac US$ 310 (S/ 1,233)
• Los Olivos US$ 318 (S/ 1,265)
• Chaclacayo US$ 321 (S/ 1,277)

What are the most expensive districts?

According to Properati, Lima has top districts to rent such as:

• San Isidro in US$ 1,323 (S/ 5,265)
• Miraflores at US$ 1,181 (S/ 4,700)
• Ravine at US$ 944 (S/ 3,757)
• San Borja at US$ 859 (S/ 3,418)
• Groove at US$ 849 (S/ 3,379)

What are the preferred areas to live?

The most sought after districts for apartment rentals in Lima are found in Lima Top and Lima Moderna.

Santiago de Surco, Miraflores, San Miguel, Pueblo Libre and La Molina are preferred by Peruvians who want to rent a home.

About 18% of searches are focused on Surco, 15% on Miraflores, 11% on San Miguel, and 7% on Pueblo Libre and La Molina.

What ages are the most looking to rent?

Currently, apartments are the homes most sought after by Peruvians in Lima, according to Maldonado, who specified that 85% of searches on the web portal focus on this type of property and 15% on houses.

On the other hand, the specialist said that women and millennials carry out the highest percentage of real estate searches.

“63% looking for an apartment to rent are women. In terms of ages, the group that shows the most interest is millennials (between 25 and 34 years of age) with 28% of searches. The second group that most explores rental options are young people, between 18 and 24 years of age, representing 21%, ”he said.

Likewise, he stated that the most sought-after pieces are those with between 2 and 3 rooms, ideal for couples and small families, while Generation Z is concentrated in one-bedroom apartments.

Inflation and rental price

Due to inflation, the Central Reserve Bank of Peru (BCR) raised interest rates, thus leading to an increase in credits from the financial system, including mortgages, the executive pointed out.

“The prices of construction materials, together with external and internal conditions, have created an environment where buying a home requires a robust budget. Interest rates for mortgage loans have risen, causing the rental market to become more competitive the higher the demand, the higher the priceMaldonado said.

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