Real Estate in Santiago, Chile
Last updated on Feb 05, 2023
Summary: The average cost of a nice 2 bedroom home in Santiago, Chile is around $200,000 USD, while a nice 3 bedroom home is around $250,000 USD. These properties typically include modern amenities such as air conditioning, stainless steel appliances, and updated bathrooms. Some may also include a balcony or terrace. There are no restrictions on foreign ownership for properties in Santiago. Expats should search for a home to buy in Santiago by researching the different neighborhoods and areas, looking at listings online, and visiting the properties in person. The most desirable neighborhoods in Santiago include Providencia, Las Condes, Vitacura, and La Reina. These areas are known for their high-end shopping, restaurants, and nightlife. They are also close to parks, public transportation, and other amenities.
How do I find a place to live in Santiago?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Santiago is to use online resources such as websites like Airbnb, HomeAway, and Craigslist. Additionally, you can also search for local real estate agents who specialize in helping people find homes in Santiago. Additionally, you can also look for local newspapers and magazines that list available properties for rent or sale. Finally, you can also ask friends and family who live in Santiago for recommendations on where to look for a place to live," said one person in Santiago.
What is a typical expat home or apartment like in Santiago?
"Expat homes and apartments in Santiago are typically modern and spacious, with large windows that let in plenty of natural light. Many apartments come with balconies or terraces, offering stunning views of the city and the surrounding mountains. Expat homes and apartments are usually well-equipped with modern appliances and amenities, such as air conditioning, high-speed internet, and cable TV. Most expat homes and apartments also come with a security system, providing peace of mind for those living in the city," explained one expat living in Santiago, Chile.
What is the average cost of housing in Santiago?
If you are thinking about moving to Santiago, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Santiago can vary greatly depending on the area and type of housing. Generally, the average cost of renting an apartment in Santiago is around $500 to $1,000 per month, while the average cost of buying a home is around $200,000 to $400,000," said one expat who made the move to Santiago.
Should I buy or rent a home in Santiago?
If you have not spent a lot of time in Santiago, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Santiago 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 Santiago, as well as the cost of purchasing a home. Renting a home in Santiago 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 Santiago. Ultimately, the decision to buy or rent a home in Santiago should be based on your individual needs and financial situation," remarked one member in Santiago.
What do I need to know when buying property in Santiago?
When we asked expats what advice they would give a foreigner before buying a property in Santiago, they said:
"When buying property in Santiago, it is important to research the area and the local market to ensure you are making a sound investment. It is also important to understand the legal process of buying property in Chile, including the necessary paperwork and fees. It is also important to be aware of the taxes and fees associated with owning property in Chile, such as the annual property tax. Additionally, it is important to understand the local customs and regulations regarding property ownership, such as restrictions on foreign ownership. Finally, it is important to work with a reputable real estate agent or lawyer to ensure the process is handled properly," explained one person living in Santiago, Chile.
Are foreigners allowed to own property in Santiago?
When we asked expats what advice they would give a foreigner before buying a property in Santiago, they said...
"Yes, foreigners are allowed to own property in Santiago. According to Chilean law, foreign citizens are allowed to purchase real estate in the country, provided they have a valid visa and a Chilean tax identification number. Foreigners are also allowed to own land, buildings, and other types of real estate in Chile. However, they are not allowed to own land in certain areas, such as military zones or areas of strategic importance. Additionally, foreigners are not allowed to own more than 10 hectares of land in Chile," explained one foreigner living in Santiago, Chile.
What appliances are typically included in a rental?
We asked foreigners in Santiago 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:
"Rental properties in Santiago typically include a refrigerator, stove, oven, washing machine, and dryer. Additionally, some properties may include a dishwasher, microwave, and other small kitchen appliances," said one foreigner living in Santiago, Chile.
Additional Information about Searching for a Home in Santiago:
We asked foreigners in Santiago 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 Santiago by looking online for real estate websites that specialize in the area, such as Propiedades.cl or Portal Inmobiliario. They can also search for rental listings on websites such as Airbnb or HomeAway. Additionally, expats can look for local newspapers or magazines that list available properties, or contact a real estate agent who specializes in the Santiago area," said one expat in Santiago.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat 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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