Real Estate in Chile
Last updated on Dec 11, 2023
Summary: An expat looking to buy a home in Chile should begin by researching the different areas of the country and deciding which one best suits their needs. They should then contact a local real estate agent to help them find a suitable property. Homes in Chile typically include amenities such as air conditioning, heating, and modern appliances. Many homes also have outdoor spaces such as gardens, terraces, and balconies. Foreigners are allowed to own property in Chile, but there are certain restrictions. For example, foreigners are not allowed to own land within 50 kilometers of the border. Additionally, foreigners must obtain a visa before they can purchase a property.
How do I find a place to live in Chile?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"There are two ways to live in Puerto Varas: in town or out of town in the parcelas. There are a lot of parcelas neighborhoods to choose from, but they all have excellent spacious houses on large pieces of land. Our neighborhood has a (private) dirt road and all of our neighbors are professionals. We feel pretty safe even though we are 3 miles from town as the crime is low and law enforcement is good. Plus, all of the neighbors are constantly in touch via whatsapp," said one person in Puerto Varas.
"One of the best ways to find a place to live in Chile is to use online resources such as websites like Airbnb, HomeAway, and Craigslist. Additionally, you can also search for rental listings in local newspapers and magazines. Additionally, you can also contact local real estate agents who can help you find a place to live in Chile. Additionally, you can also ask friends and family who live in Chile for recommendations. Finally, you can also visit the area in person to get a better feel for the area and to find a place to live," remarked one foreigner who made the move to Chile.
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What is a typical expat home or apartment like in Chile?
"Expat homes and apartments in Chile tend to be modern and comfortable, with many featuring open-plan living areas and large windows that let in plenty of natural light. Many expat homes come with amenities such as air conditioning, high-speed internet, and modern appliances. Expat apartments often come with access to shared amenities such as swimming pools, gyms, and other recreational facilities. Expats can also find furnished apartments in Chile, which come with all the necessary furniture and appliances," explained one expat living in Chile.
"We live in a two story house surrounded by a half acre of land with spectacular views of the,lake and the volcanoes. We have 4 bedrooms, three bathrooms, large kitchen and dining rooms, and two large living room areas. There is also decks on the first and second floors. For a $1,000 usd per month it has great value. We've never lived anywhere as nice as this before. In the bay area of California, this property would be worth hundreds of millions of dollars," said one person in Puerto Varas.
Expats interested in International Health Insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.
Expats interested in International Health Insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.
What is the average cost of housing in Chile?
If you are thinking about moving to Chile, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Housing costs here are cheaper or about the same as the US. We're in a house that costs $1,000 USD right now and our rent was half that in Stockton, California. We get a lot more for the money, though, with spectacular views of the lake and volcanoes, a wonderful spacious house and the privacy of a half acre parcela," said one person in Puerto Varas.
"The cost of housing in Chile varies depending on the location and type of property. Generally, the cost of renting an apartment in a city center is higher than in the suburbs, while the cost of buying a house is higher in the suburbs than in the city center. On average, renting an apartment in a city center can cost around $500 to $1,000 per month, while buying a house in the suburbs can cost around $200,000 to $400,000," remarked one foreigner who made the move to Chile.
Should I buy or rent a home in Chile?
If you have not spent a lot of time in Chile, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Chile can be a great investment, as the country has a stable economy and real estate market. However, it is important to consider the cost of living in Chile, as well as the cost of purchasing a home, before making a decision. Renting a home in Chile can be a more affordable option, as it allows you to live in the country 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 Chile. Ultimately, the decision to buy or rent a home in Chile should be based on your individual needs and financial situation," said one person in Chile.
What do I need to know when buying property in Chile?
When we asked expats what advice they would give a foreigner before buying a property in Chile, they said:
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to hire a lawyer to help with the legal aspects of the purchase. 3. It is important to understand the tax implications of buying property in Chile. 4. It is important to understand the local zoning laws and regulations before making a purchase. 5. It is important to understand the financing options available for purchasing property in Chile. 6. It is important to understand the process of transferring the title of the property to the new owner. 7. It is important to understand the process of registering the property with the local government. 8. It is important to understand the process of obtaining a mortgage in Chile. 9. It is important to understand the process of obtaining insurance for the property. 10. It is important to understand the process of obtaining permits and licenses for the property," remarked one foreigner who made the move to Chile.
Are foreigners allowed to own property in Chile?
When we asked expats what advice they would give a foreigner before buying a property in Chile, they said...
"Yes, foreigners are allowed to own property in Chile. The Chilean government has established a legal framework that allows foreign citizens to purchase and own real estate in the country. Foreigners are required to obtain a visa and register with the Chilean government in order to purchase property. Additionally, foreign citizens are subject to the same taxes and regulations as Chilean citizens when it comes to owning property," explained one foreigner living in Chile.
What appliances are typically included in a rental?
We asked foreigners in Chile what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Chile, rental properties typically include a refrigerator, stove, oven, and washing machine. Additionally, some properties may include a dishwasher, microwave, and other small appliances. Furniture may also be included in the rental, depending on the agreement between the landlord and tenant," explained one person living in Chile.
Additional Information about Searching for a Home in Chile:
We asked foreigners in Chile what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Chile by looking online for real estate websites that specialize in the area, such as Propiedades.cl or Portal Inmobiliario. They can also contact local real estate agents who can provide more information about the area and help them find the perfect home. Additionally, expats can search for homes in Chile by attending open houses or visiting local neighborhoods to get a better feel for the area," said one foreigner living in Chile.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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