When you learn about the prospects that exist in the Chilean real estate markets, you will be surprised that investments in Chile are better than in several other markets. The real estate environment in developed countries offers few opportunities for growth in the near future. On the other hand, the Chilean market is on a growth path and you can reap the maximum benefits from investing in real estate in Chile.
The Republic of Chile is a narrow, long coastal area between the Andes and the Pacific Ocean. Before you start thinking about investing in Chile, it would be good to know the basic characteristics of the country and its people, so that you can make informed decisions about your investment in Chile. Once you understand Chile better, the problem of how to get the most out of your investment in Chile becomes much easier.
Geography of Chile
Chile’s climate ranges from a temperate rainy climate in the southern region to a Mediterranean climate in the central region, to the driest desert in the world in the northern region of Atacama. The central area is the most significant in terms of population and farming, being the political and cultural center of the country. The southern region is full of green forests, stretches of volcanoes, lakes, and pastures. The coastal region of southern Chile consists of several islands, fjords, canals, inlets, and winding peninsulas.
You may be surprised that Chile is a leader in Latin American countries in terms of quality of life, competitiveness, economic freedom, political stability, low levels of corruption, globalization and lower poverty rates. After the introduction of economic reforms in the 1990s, the country recorded annual growth of more than 4%. Over the last decade, growth has been between 5% and 7%. In 2006 Chile had the highest nominal GDP per capita among Latin American countries. In the same year, the government had a fiscal surplus of US$11.3 billion or around 8% of GDP. Chile is one of the few countries in the world that has maintained a fiscal surplus over the past few years. It is also the fastest growing economy in the last 6 years in the Western Hemisphere.
Culture and tourism
The official language is Spanish, but the spoken accent is very different from other South American countries. English was obligatory and most schools teach a language. Tourism is a growing industry in Chile. Estimates from the National Bureau of Tourism show that about 2 million people visit Chile every year. Ski resorts in the central Andean region such as Valle Nevado and Portillo have an international reputation. The Laguna San Rafael National Park and its numerous glaciers in Patagonia in southern Chile are a major tourist attraction, as are the Torres del Paine National Park, the Chiloe Archipelago, and the Easter Island in the Pacific Ocean, other famous tourist destinations in southern Chile. The Valparaiso coast near Santiago with its numerous beach resorts and the Vina del Mar with its casino, beaches and annual song festival attract a large number of tourists.
Investment in real estate in Chile
Despite the above features of a strong economy and major tourist attractions, Chile’s potential has not been fully exploited by many foreign investors in the real estate market. When talking about foreign investment in real estate, people usually mention Brazil or Argentina in South America as good places. In addition, we advise you not to think about investing in Venezuela and Colombia because of their bad reputation in the drug cartels, dictatorial political decisions, and fierce internal struggles. Chile is not even mentioned as a destination for investment because very few people know about the opportunities that exist in Chile for profitable real estate transactions.
Chile’s business culture
Chile is a country where even now many families live. Business could be developed mainly through a word-of-mouth approach, as there are very few consulting companies in many places. However, the Chilean people are cordial and very helpful when they believe that you are honest and honest. Once you have trusted the people, you would be amazed if you found the answer and the offers you receive for wisely investing your money in Chile. Private property rights in the country are also well established. The country’s legal institutions are quite strong and the rights are very clear. The agreements are strictly adhered to. Banks are highly reliable and opening currency accounts is easy. Corruption is also quite low.