Buying real estate in Chile: Purchasing procedure
Buying real estate in Chile is a fairly straightforward process, even if you are not a citizen. With proper planning and a good bi-lingual attorney (unless you are fluent in Spanish), buying your home here can be a hassle-free process.
Here’s what you will need in order to purchase of a home or land in Chile:
- The formalized contract (escritura pública otorgada ante Notario and Escritura Pública). These two are lumped together because the contract is usually part of the Escritura Pública.
- The title report for the property (Estudio de Títulos).
- A RUT (Rol Único Tributario) if you are a non-citizen non-resident, or a RUN (Rol Único Nacional) if you are a Chilean citizen or resident of Chile. The RUN is the equivalent to a Social Security number and the RUT is a number used to keep track of foreigners’ for tax purposes.
Buying restrictions in Chile
For the most part, the Chilean constitution guarantees foreigners the same rights as Chilean citizens when buying and selling real estate. There are certain exceptions such as in the case of national security areas. It is best to ask a real estate attorney for more details.
Where to buy real estate in Chile
Nestled in the Andes, Santiago is one of South America’s most enchanting cities. The city juxtaposes classical colonial architecture with modern highrises and manages to blend the two. For example, the cathedral in Plaza de Armas is across the street from a 48-story glass office building—the skyscraper reflecting the image of the church.
From here it’s only 90 minutes to the sandy beaches of the Pacific, the slopes of the Andes—with the most affordable ski holiday this side of the Rockies—or a wine tour of the vineyards.
Property sample in Santiago:
- A three-bedroom, two-bathroom apartment in a central location in Santiago. This 753-square-foot property comes with Internet, 24-hour security and is close to major shopping malls, public transport and a park. Price: $87,730.
Valpo (as it’s called locally) feels like a real city. It’s short on glitz but long on character, with lots of sidewalk cafes, hole-in-the-wall restaurants and rooftop venues where you can have a chardonnay and watch the sun go down. This is not a place where people come to enjoy the beach or water, despite the fact that Valparaiso is centered on the shoreline of a beautiful cove with calm, blue waters. Instead, this is a city where people live and work—a busy seaport rather than a popular beach town.
Property sample in Valparaiso:
- A new one-bedroom, one bathroom apartment of 538 square feet in the Cerro Artillería district. With views of the city and the sea this property is located close to shops and restaurants and is near to the Maritime Museum. Price: $56,830.
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