Should I buy or rent a home in Lima?

If you have not spent a lot of time in Lima, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...

"I rented a house (Miraflores) for the first year from a gringo who actually took a USA check for the years rent. I also bought his car and sold it 6 years later for the same price. I bought a Penthouse apartment overlooking the Pacific (for a song)on my tourist visa with only $500.00 deposit and a photocopy of my passport," said a member in Lima, Peru.

CitizenM
Learn More

It's impossible to confuse citizenM with any other hotel. We don't look or sound like anyone else. Bold, vibrant, and artistic - that's us. Our rooms cater to modern travelers - enormous ultra-comfortable beds, unlimited free Wi-Fi and 24/7 food and drinks always waiting at canteenM. And best of all, our ambassadors are every guest's best friend.

CitizenM

"Buying a home in Lima can be a great investment, as the city is growing rapidly and property values are increasing. However, it is important to consider the cost of living in Lima, as well as the cost of purchasing a home. Renting a home in Lima can be a more affordable option, as it allows you to live in the city without the long-term commitment of buying a home. Additionally, renting can provide more flexibility if you are unsure of how long you will be living in Lima. Ultimately, the decision to buy or rent a home in Lima should be based on your individual needs and financial situation," remarked another expat who made the move to Lima, Peru.

Should I buy or rent a home in Lima?

If you live in Lima, newcomers to Lima would love to hear your answer to this question.