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Santiago center stands out on its property offers

According to an analysis of the residential market published by Colliers International, Santiago central district has more than 5,000 new apartment units for sale. The report states that there are 61 apartment projects on offer, with prices starting at UF 1,240 for 1 bedroom 1 bathroom and reach a maximum value of UF 6,000 in some 2 bedrooms 2 bathrooms.

The Santiago Centro commune stands out as a good destination for real estate investment thanks to its location, excellent utilities and metro connectivity. The consultancy company points out that apartment prices of the area have increased 10% annually in recent years. In the first quarter of 2019 Santiago Centro has the second highest property supply in the Metropolitan Region, with a 16% market share.  Ñuñoa is the leading municipality with 18%.

Regarding how the real estate market in this district will evolve in the coming years, Colliers International estimates its property supply to remain stable. The analysis concludes that property developments will continue to concentrate on Alameda, Blanco Encalada and Matta avenues. Half of the projects on these streets that obtain permits in 2018 are already in execution. We project that the area will continue to represent a large part of the real estate stocks of the commune.

Property Prices

The most common units are 1B1B, 2B2B, 2B1B.

1B1B: 1.240 – 3.600 UF

2B1B: 1.900 – 4.000 UF

2B2B: 2.100 – 6.000 UF

Fuente: Diario Estrategia

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