Chile: Why property prices of Estación Central, Independencia and Conchalí have increased so much this year?

Disclaimer: This post is translated from ¿Por qué Estación Central, Independencia y Conchalí han aumentado el precio de sus viviendas este año? by Capitalizarme.

According to Portal Inmobiliario, apartment sales in Estación Central have increased the most by approximately 10.9% in the first quarter of 2019.  Apart from that, it continues to sell the most, only surpassed by Independencia and Conchalí.

Metro has finally arrived at Independencia and has improved effectively local connectivity and life quality. These factors have pushed up the market price. Every square meter is now worth 48.5 UF, a 7% increase from last year.

Conchalí stands out by offering 48.7 UF per square meter, practically the same as in 2018. Consultations about Conchalí and Independencia in Portal Inmobiliario have increased 40% and 30% respectively. 

Ñuñoa has the highest volume of apartments available. Every one in seven projects locates in Ñuñoa. Even though this neighbourhood has the most amount of stocks, sales continue to concentrate in the three areas named, given they provide small apartments that are preferred by customers. 

The most affordable entrance prices, demographic trends and low mortgage rates are factors that have established a purchase preference for apartments. Real estate prices already increased by 4.6% in Q1 2019.