Real estate in Chile – 5 tips for an investor

As there is more and more uncertainty in the traditional economies of the West every year, some investors have begun to take a closer look at emerging market economies. Aside from Asia, South America currently seems to be one of the most exciting investment destinations. Regular candidates have their pros and cons. Whereas Argentina suffers from legal uncertainty and Brazil suffers from widespread corruption and crime. However, they are by far the most famous and largest countries.

However, Chile has benefited from them over the past 10 years or so. Chile offers a very balanced place: it has a high literacy rate and education, the highest average income (although it is still unevenly distributed), very good infrastructure and well-functioning institutions. Also noteworthy is the low level of corruption at the institutional level.

On the other hand, Chile offers both institutional and private investors a wide range of interesting properties. For the institutional investor or investor primarily looking for rental opportunities, Chile has tourism projects and, more importantly, agricultural land and mines.

For the private investor who may be looking for a second home or piece of land, there are some great deals, whether it’s lakeside land in the southern lakes region, the best agricultural land for less than $ 5,000 per hectare, or just a beach house in Viña. del Mar or further north.

Five things you should know when investing:

1. Can anyone buy land in Chile?

Yes. But what you need to buy land in Chile is a so-called RUT, similar to a social security number. It is issued by the Chilean tax authority and is easy to obtain. You will receive it without any problem, but you will need to apply in person in Chile at the tax office (Servicios Impuestos Internos).

2. How can I be sure that the property I am buying is in order and that the seller is the owner?

Once you have found the property you are looking for, you should contact a lawyer to check for legal restrictions on ownership and ownership. The lawyer will request information from the Conservador de Bienes Raices, the Chilean agency that maintains all records for all property. You can also request an appointment yourself. You need a ROL number, real estate identification number.

3. We are looking for farmland.

If you are thinking about investing in farmland (because food prices will go up) it all depends on whether you are going to farm it yourself or if you want to rent it out to other farmers. In the former case, you will probably need land on which to grow exportable fruits such as grapes, nuts, or apples. Then look at the regions close to the capital region: V. and VI. Region. If you are looking to rent out land, we recommend looking further south, where you will find cheap land to grow crops that do not require a long investment period, such as corn or maize.

4. Remember Mapuche.

The main tribe of the Chilean Indians is the Mapuche. They were given land after everything had been taken from them by the earlier colonial rulers. Now the problem is that the Mapuche believe that the land cannot be owned by anyone, and by law they are not allowed to sell land to people who do not belong to the Mapuche. If they sell anyway, the contract may be illegal. If you are buying in the south (region VIII-X), ask a lawyer to check this point. In other regions, this is usually not a problem.

5. How to know when is the best time to invest in Chile

After the Chilean central bank announced it would buy US $ 50 million every day for the rest of the year, the dollar was up about 5% against the Chilean peso. However, it looks like the peso will offset its losses in the medium term and even rise to higher levels than ever before. The reason is Chilean copper. It is the country’s main export, and its price has gone up. Another major export, fruit, has also become more expensive over time. If these trends continue, the peso will continue to rise. This could make it more expensive in the future. Although – no one can predict the exchange rate.

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