Paracas

Paracas, on the desert coast of Ica region about four hours south of Lima, is Peru's marquee upscale beach-and-nature resort, anchored by the Paracas National Reserve and the wildlife-rich Ballestas Islands. It is a planned, second-home and tourism market rather than a residential city, with developments like Condominios Nauticos and marina-side projects setting the tone. In 2026 the median condo sells for roughly USD 185,000 at about USD 1,265 per square meter, with two-bedroom waterfront units averaging higher; modern seafront apartments rent for around 2,500-3,500 soles per month, and short-let demand from Lima weekenders and international visitors supports gross yields that can reach 5-7%. Supply is limited and seasonality is pronounced, concentrated around summer and long weekends. Foreign buyers receive full freehold title registered at SUNARP with the same protections as Peruvians, and Paracas sits on the central-south coast far from any 50km border restriction, though buyers must verify clean titles and any reserve-related zoning setbacks. Year-on-year appreciation runs in the mid-single digits as Lima-driven second-home demand grows and the resort's hospitality base expands. The permanent population is small, around 7,000, swelling heavily in peak season.