Chile Investment: Economy
Those making investment in Chile property and land will be interested in Chile's strong and stable economy, particularly during a time of global economic crisis. Chile has maintained steady economic growth over a period of 3 years, with 5% GDP growth predicted for 2008. Chile has high unemployment and inflation rates, but sound fiscal policy that will ensure inflation is reduced to the target rate of 3% by 2010. Chile is rated A+ by Standard & Poor's, the highest rating for a Latin American country.
Chile has a strong track record in attracting foreign direct investment (FDI). Chile's capital, Santiago, has become the hub for foreign investment in Chile due to its exceptional business environment. Demand for accommodation from foreign companies setting up operations in Chile is high, making Chile property investment additionally compelling.
Chile Investment: Tourism Potential
The tourist industry is another consideration for those buying Chile real estate. Between January and September 2008, Chile received nearly 2 million visitors The UK is the primary target market of Chile and an awareness and media campaign is underway in the UK to promote Chile as the best year-round, long-haul destination. These developments are further advantages to property investment in Chile.
Chile Investment: Property Market
For those considering property and land investment in Chile, a key consideration is the strong annual growth in the property market of 4% for the last decade. Other considerations for property investment in Chile are rental yields of up to 10% and a rising demand for rental property. The cost of living in Chile is 25% to 45% lower than in US and Europe. House prices, although increasing year-on-year, are still low by regional standards and there is scope for impressive returns on property investments in Chile. Chile has one of the most open and investment friendly economies in the world with very few restrictions on foreign investment (including property).
