Chile Real Estate
Is it possible to buy property in a South American country where foreigners are protected by the same rights as citizens? Where the police force is known for its honesty and does not accept bribes? A country with the highest GDP per capita in that region, a member of the Organization for Economic Cooperation and Development (OECD), A+ Sovereign Credit Rating, and one of the lowest risk countries in the world for foreign investments? If you are looking for such a country for real estate investments in South America, look no further than Chile.
Author/Copyright: Ahmed Dawn www.adawnjournal.com
In order to buy property in Chile, you don’t need to be a resident or even visit the country. Chile has the most developed real estate market in South America. The property market has remained fairly stable during the global economic crisis and has shown growth momentum. Although Chile is the world’s longest and narrowest country, stretching more than 4000 kilometers, the population and real estate volumes concentrate in the center region known as The Central Valley – where the capital, Santiago, is located. Thirty percent of the population lives in Santiago and it is the most visited spot by tourists. Also, Frutillar and Puerto Varas have become the fastest growing real estate markets in Chile and southern Chile.
Like anywhere else, you should be aware of some rules and regulations when buying property in Chile. Real estate agents are not regulated in Chile and it is advisable to hire a lawyer to perform real estate transactions in Chile. A title search must be conducted by a qualified attorney. Based on the title search, have the attorney draft a buy/sell agreement. Once completed, this agreement has to be signed in front of a CHILEAN Notary Public and then property has to be registered with the regional registry. You will also need a Chilean taxpayer ID number (RUT) to complete the whole process.
There are many investment or legal firms available to make your real estate expedition in Chile a breeze. Always do your research to find a firm that is reputable and meets your needs.