Chile Mortgage
Although the Chile mortgage market is very well developed and competitive, mortgages are not available to foreigners. Chile banks employ strict lending criteria for locals which are almost impossible for foreigners to satisfy. It is widely acknowledged that the tight controls on mortgages in Chile have massively reduced Chile's exposure to the global financial crisis.
Property prices are low and investors looking to Chile for property investment potential may wish to consider equity release or the remortgage of an existing property as a means of raising capital for the purchase of a property in Chile.
Chile Tax
Buying property in Chile is not necessarily the same as buying in the UK or Ireland and you should take independent legal advice, particularly regarding Chile tax information. Taxes and fees involved in the purchase process are reasonably low - an additional advantage for the Chile property investment.
Buyers of homes in Chile are liable for annual property tax - the amount depends upon the property value. For further tax information, click here to download the full Chile Land and Property Investment Guide.
