Housing market situation

Buying, Selling, Building, Tax issues, anything regarding real estate or properties in Chile.
Forum rules
NO DISCUSSION OF SPECIFIC REAL ESTATE AGENTS BY NAME, LINK, OR RECOMMENDATION ANYWHERE ON THE CHILE FORUM.
at46
Rank: Chile Forum Citizen
Posts: 1035
Joined: Fri Sep 20, 2013 6:13 pm

Re: Housing market situation

Post by at46 » Fri Sep 06, 2019 10:53 am

admin wrote:
Fri Sep 06, 2019 10:42 am
at46 wrote:
Thu Sep 05, 2019 11:04 pm
admin wrote:
Thu Sep 05, 2019 6:59 pm
show me that law?
If you see thousands of stores with the three step purchasing system and a caja cabin built in every one of them, doesn't it point to some sort of regulation they're following?
admin wrote:
Thu Sep 05, 2019 6:59 pm
there are thousands of one worker shops in chile.
Store owners or their close relatives. I've yet to see a one man store run a by a hired hand.
they are called the "mall".
The mall is not a one man store and operates on a different set of rules.

User avatar
fraggle092
Rank: Chile Forum Citizen
Posts: 1587
Joined: Fri Mar 28, 2008 6:35 pm
Location: In Chile

Re: Housing market situation

Post by fraggle092 » Fri Sep 06, 2019 11:07 am

There is no law that designates who handles customer cash in a shop, purchasing is compartmentalized to prevent fraud and theft. Even that's not foolproof as employees will ponerse de acuerdo given the opportunity. The fact that this system is so widespread in smaller shops gives an idea of the extent of the problem.

Apart from direct losses, its the business owner, not the employee, who is answerable to the SII, and irregularidades caused by employees dishonesty can be subject to heavy fines.
After several costly experiences in our little negocio, all cash payments and facturas are only handled by me personally. We have had prospective employees walk out when they discover that they will not be handling cash.

La ocasión hace el ladrón

Not so much of a problem in big stores that have POS systems (and skilled personnel to manage them) in place.
Après moi, le déluge

User avatar
admin
Site Admin
Posts: 18207
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Housing market situation

Post by admin » Fri Sep 06, 2019 11:26 am

I just went in to the local copec

bought cup of coffee and a roll.

one of the largest companies in south america. hardly a mom and pop operation. it was just me and the girl serving my coffee and taking my money.

there is no law or regulation mandating a dedicated money handler in stores.

in fact that buisness model is disappearing rappidly for one simple reason: ATM cards.

we had small tourist store a couple years ago in frutillar; and yes, we had one employee, left alone for hours at a time running it, and she handled cash, sales, and everything else. I was not too worried about her ripping us off, because there simply was almost no cash ever in the store beyond a little bit of daily change. all the products were bar coded. Like 95% of our sales were done by card. in fact, i did not want much cash hanging around ever, simply because it was a security risk. i figured if there was never much more than 30,000 to 50,000 pesos, then anyone getting creative would go rob someone else.

it is just an old crusty 'we do it this way, because we have always done it this way' buisness practice.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
fraggle092
Rank: Chile Forum Citizen
Posts: 1587
Joined: Fri Mar 28, 2008 6:35 pm
Location: In Chile

Re: Housing market situation

Post by fraggle092 » Fri Sep 06, 2019 11:29 am

Small stores still do a lot of cash transactions. And there are still plenty other ways to steal even with plastic. Undercharging is just one. Chilean negocios don't spend money on extra personnel just because "it's always been done that way"
Après moi, le déluge

User avatar
admin
Site Admin
Posts: 18207
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Housing market situation

Post by admin » Fri Sep 06, 2019 11:54 am

yea, if they get the 40 hour work week passed, all those dead weight jobs are going disappear all the faster. most employers are not going to add more people, they are going to automate away the position.

I had good chuckle the other day. some executive in an interview said something like, "we should not be letting a bunch of kids that went from the university direct to Congress, and never held a job in either the public or private sector, make major economic or buisness decisions". referring to the little commies in congress.

They can push 40 hours or even 35 hour work week, and all they are doing is insuring the people that voted for them get to join the structurally unemployed permanently.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
eeuunikkeiexpat
Rank: Chile Forum Citizen
Posts: 7611
Joined: Fri Sep 01, 2006 1:38 am
Location: Megalith of unknown origin near my digs, south V Region coast

Re: Housing market situation

Post by eeuunikkeiexpat » Fri Sep 06, 2019 12:51 pm

The more important question is, who the hell voted for those privileged spoiled brats?
There are two ways to be fooled.

One is to believe what isn't true;

the other is to refuse to believe what is true.

- Søren Kierkegaard

User avatar
fraggle092
Rank: Chile Forum Citizen
Posts: 1587
Joined: Fri Mar 28, 2008 6:35 pm
Location: In Chile

Re: Housing market situation

Post by fraggle092 » Fri Sep 06, 2019 2:07 pm

admin wrote:
Fri Sep 06, 2019 11:54 am

I had good chuckle the other day. some executive in an interview said something like, "we should not be letting a bunch of kids that went from the university direct to Congress, and never held a job in either the public or private sector, make major economic or buisness decisions". referring to the little commies in congress.
Straight from Student Politics to Congress. From living off their parents to mega-dietas paid by us.
Way to go, Chile.
eeuunikkeiexpat wrote:
Fri Sep 06, 2019 12:51 pm
The more important question is, who the hell voted for those privileged spoiled brats?
Instigated by the political establishment, (Ricardo Lagos was a pioneer here with his useless Senator son) to co-opt the student protesters who also now realize that a career within the State is much more rewarding than actually working for a living. Plenty of well-paid places for militantes in the only growth area in Chile.

From 2009:
Eduardo Frei asegura que para avanzar en igualdad y protección de los ciudadanos se necesita más Estado y más Gobierno, como lo ha hecho Michelle Bachelet.
Après moi, le déluge

Julito
Rank: Chile Forum Citizen
Posts: 286
Joined: Sun Apr 19, 2015 5:39 pm
Location: Villarrica

Re: Housing market situation

Post by Julito » Fri Sep 06, 2019 3:30 pm

Not only Chile, it´s no better in Australia where many politicians got there via the party machine after being active in university politics and are eventually parachuted into a safe seat. They´ve never had a job relevant to their uni degree so are basically unemployable, suck on the public funded teat their entire "careers" and after a qualifying period retire on very generous taxpayer funded superannuation for life, with an office allowance and free travel for they and their spouses. If they do get voted out they almost invariably go back to working for the party machine or another politician as an "advisor", or a "consultant". If not, they can get scooped up by an industry group as a lobbyist.

User avatar
fraggle092
Rank: Chile Forum Citizen
Posts: 1587
Joined: Fri Mar 28, 2008 6:35 pm
Location: In Chile

Re: Housing market situation

Post by fraggle092 » Fri Sep 06, 2019 10:26 pm

Julito wrote:
Fri Sep 06, 2019 3:30 pm
Not only Chile, it´s no better in Australia where many politicians got there via the party machine after being active in university politics and are eventually parachuted into a safe seat
I think that most of the "developed" world has gone that way (sighs) and people are getting fed up with it. Hence the rise of the demagogues, (naming no names to avoid yet more sidetracking).
Après moi, le déluge

at46
Rank: Chile Forum Citizen
Posts: 1035
Joined: Fri Sep 20, 2013 6:13 pm

Re: Housing market situation

Post by at46 » Fri Sep 13, 2019 12:20 pm

Chile at number seven on the list of the fastest growing real estate markets https://content.knightfrank.com/researc ... 9-6639.pdf

User avatar
admin
Site Admin
Posts: 18207
Joined: Sat Aug 26, 2006 11:02 pm
Location: Frutillar, Chile
Contact:

Re: Housing market situation

Post by admin » Fri Sep 13, 2019 2:14 pm

so this is interesting.

we decided with the recent interest rate cuts by the Chilean central bank, to see what we could do about refinancing our house mortgage. I don't typically get too excited about a quarter point cut here or there. Not worth the hassle.

my wife called our executive at the bank and asked what they could do. We implied that we were being offered lower mortgage rates from other banks.

They came back in less than a week with an offer to drop our mortgage rate from 3.6 % down to 2.01% on 15 year mortgage, with no fight. We have only had it for a little over a year.

Perhaps we should go shop the other banks. :lol:

Besides the possibility of loosing our buisness, I think what has them spooked is the possibility the central bank is going to keep on cutting. I think JPMorgan the same day said they were expecting the central bank of chile to cut rates down to around 1.25%.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

User avatar
nwdiver
Rank: Chile Forum Citizen
Posts: 3010
Joined: Tue Mar 17, 2009 8:45 pm
Location: Vancouver, BC and Chile where ever it's Summer
Contact:

Re: Housing market situation

Post by nwdiver » Fri Sep 13, 2019 3:17 pm

admin wrote:
Fri Sep 13, 2019 2:14 pm
so this interesting.

we decided with the recent interest rate cuts by the Chilean central bank, to see what we could do about refinancing our house mortgage. I don't typically get too excited about a quarter point cut here or there. Not worth the hassle.

my wife called our executive at the bank and asked what they could do. We implied that we were being offered lower mortgage rates from other banks.

They came back in less than a week with an offer to drop our mortgage rate from 3.6 % down to 2.01% on 15 year mortgage, with no fight. We have only had it for a little over a year.

Perhaps we should go shop the other banks. :lol:

Besides the possibility of loosing our buisness, I think what has them spooked is the possibility the central bank is going to keep on cutting. I think JPMorgan the same day said they were expecting the central bank of chile to cut rates down to around 1.25%.

1.25% would put them in the developed world's class, well except for Japan's 0%.....
It's all about the wine.

Post Reply