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Chile Home  Chile Real Estate Articles The Real Estate Market and Investment in Southern Chile
The Real Estate Market and Investment in Southern Chile |
We would not want to say that Southern Chile is in the middle of real estate boom, only that the signs are definitely in the air. For anyone that has seen this phenomena before in other parts of the World, or even around the central region of Chile in places like Viña Del Mar, they are very obvious.
One of the more famous investors is Douglas Tompkins. His land purchases in the Southern Patagonia were sufficiently large as to raise more than a few eyebrows with the Chilean Military (more than 3,000 square miles). It was also widely criticized by many other sectors of Chilean society. His apparent plan is to preserve a large chunk of Southern Chile's virgin forest as a reserve. Other foreign investors have recently started to follow Tompkins lead, along with developers from the central region.
Another major force in Southern Chilean real estate market has been Chile's increasing decentralization from the metropolitan region around the capital Santiago. Even in the smallest towns, you see large expansions by companies such as Sodimac, Home Center, and Easy. You also see new Tur Bus stations popping up in towns that have obviously never had that much traffic before. Stations that would better fit towns with ten times the population than they currently have.
In the bigger Cities such as Temuco and Puerto Montt, the edges of the Cities are quickly turning into classic track homes and planned community suburbs. The infrastructure is following those planned communities with the stores, malls, and restaurants. New apartment buildings are starting to reach new heights. Buildings with seven stories or more are now becoming common in the South, and they are looking more like the apartment complexes and office buidings around the Central region.
There are certain locations in the South that have always been attractive to Chileans from the Central Region for Vacation homes. Places like Pucón, Puerto Varas, and Chillán. However, what is interesting is how the building is starting to spread to the surrounding towns and take on a more year around feel. Businesses are now running on an annual basis.
This is perhaps just a lot of speculation; but, however much speculation this might be, major companies seem to be doing a lot more it with their investment money. However you read the tea leaves, the signs are here for boom in the Real Estate market in Southern Chile.
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