Buying Real Estate in Chile- The Time Is Now!
Three or four years ago, we suddenly saw a huge rush to buy property in Chile by international, particularly American, investors. At the time, the Chilean economy was booming and real estate prices were rapidly increasing. It was a mixed time in terms of finding value- prices were increasing so quickly, it was much harder to find a bargain than it had been just 18 months earlier.
At the time, the US Dollar was valued at around $500 pesos. Despite this historically strong Peso rate, investors were flooding in. Then, with the change of government in Chile (the incompetent Michelle Bachelet and the left-leaning Nueva Mayoria), coupled with the deceleration of the Chinese economy, the real estate market in Chile started to cool off. Prices since then have not dropped in Peso terms in general, but it is certainly now possible to find buyers who are willing to accept offers.
The difference for international investors, and particularly those with US Dollars, is that the US$ is now worth more than $650 Pesos. This means that, compared with 3 years ago, real estate in Chile is valued at 30% less in US Dollar terms. Added to that, as mentioned, sellers are more willing to listen to offers than before.
Now is the time to buy property in Chile. With the upcoming change of government, where it looks increasingly likely that pro-business former-president Sebastian Piñera will return to presidency, it is extremely likely that the Peso will appreciate, and property in Chile will become more expensive.
Please don't miss out on this opportunity. Get in touch and let us help you find the perfect property in Chile, whether it's for investment, second home or full-time living! Chile is a wonderful place to live and visit- we have incredible properties in all areas from the Central Valley down to Patagonia, including vineyards in the Colchagua Valley and beyond, homes and apartments in Santiago and Valparaiso, and stunning properties in the Lakes Region and Patagonia.
Please contact us and we'll be happy to help you with your property search.