Chile: House Prices, Rents, and Rental Yields
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Santiago - 8.16%, Viña Del Mar - 4.31%
| Last Updated: Nov. 11, 2008 | |||||
| SANTIAGO - Apartments |
COST (US$) | YIELD (p.a.) | PRICE/SQ.M. (US$) | ||
| TO BUY | MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 60 sq. m. | 98,520 | 598 | 7.29% | 1,642 | 9.97 |
| 120 sq. m. | 144,480 | 1,068 | 8.87% | 1,204 | 8.90 |
| 180 sq. m. | 227,880 | 1,625 | 8.56% | 1,266 | 9.03 |
| 250 sq. m. | 328,250 | 2,720 | 9.94% | 1,313 | 10.88 |
| 330 sq. m. | 581,790 | 2,977 | 6.14% | 1,763 | 9.02 |
| VALPARAISO - Houses |
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| 75 sq. m. | 45,525 | 253 | 6.66% | 607 | 3.37 |
| 120 sq. m. | 88,560 | 474 | 6.42% | 738 | 3.95 |
| 175 sq. m. | 99,750 | n.a. | n.a. | 570 | n.a. |
| 255 sq. m. | 155,805 | n.a. | n.a. | 611 | n.a. |
| 425 sq. m. | 280,075 | n.a. | n.a. | 659 | n.a. |
| VIÑA DEL MAR - Apartments |
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| 60 sq. m. | 87,480 | 355 | 4.86% | 1,458 | 5.91 |
| 120 sq. m. | 187,680 | 586 | 3.74% | 1,564 | 4.88 |
| 180 sq. m. | 246,060 | 889 | 4.34% | 1,367 | 4.94 |
| 350 sq. m. | 450,800 | n.a. | n.a. | 1,288 | n.a. |
| SOUTHERN CHILE CONCEPCIÓN – Apartments |
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| 60 sq. m. | 32,100 | n.a. | n.a. | 535 | n.a. |
| 120 sq. m. | 79,200 | 596 | 9.04% | 660 | 4.97 |
| 200 sq. m. | 175,400 | n.a. | n.a. | 877 | n.a. |
| 280 sq. m. | 233,520 | n.a. | n.a. | 834 | n.a. |
| 440 sq. m. | 370,920 | n.a. | n.a. | 843 | n.a. |
| Las Condes, Providencia, Vitacura Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule |
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There are surprisingly large differences between levels of gross rental yields in Chile’s cities.
Apartments in prime areas of the capital, Santiago - Las Condes, Providencia, Vitacura - have excellent average rental yields of 8.16%, according to our research.
This suggests that prime areas of Santiago are potentially excellent residential investments, as far as apartments are concerned.
In the city of Viña Del Mar, the apartments we surveyed yielded only half as much, on average, with gross rental yields of around 4.31% only. At this kind of level, investment in property for rental income is only a moderately attractive proposition, unless there are other incentives.
For Viña del Mar and Valparaiso, we covered the whole city. It wasn’t possible to narrow down the research further.
Houses in Valparaiso have moderate to good yields at 6.9%, for the rather small houses, which was the only size for which we were able to get data.
In the southern city of Concepción, 120 square metre apartments have excellent gross rental yields of 9.04%. Unfortunately, data was scarce and we were only able to form an impression of yields for this size, but generally, in a particular city, yields tend to be consistent across the different sizes, except that smaller apartments tend to yield more.
Apartments in Santiago and Viña del Mar cost around the same, per square metre. Apartments in Santiago start at an average of US$ 98,520 for a 60 square metre apartment, versus US$ 87,480 for the same sized property in Viña Del Mar – but this cost-difference is not consistent across the size-range, and the 120 sq. m. apartments that we surveyed are slightly more expensive in Viña Del Mar. Readers should not attach too much significance to these minor differences.
Chile - more data and information
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