I live in a 100sq mt nice apartment in Las Condes and pay ~530k per month. The owner had it posted for 650k at portalinmobiliario, I offered 500K a couple years ago and he accepted. I have three more couples of friends living nearby, one couple in Pocuro paying a similar amounts for big and nice apartments as well. Same situation for all of them, all ended up renting for like 70%-80% the posted price at portalinmobiliario. I know that these properties sell for about 200M-230M, price-to-rent ratios north of 30 years.PXYC wrote: ↑Tue Oct 01, 2019 6:00 pmI recently went from Providencia to Cajón del Maipo by car, and going up Las Condes > Vitacura > Barnechea it amazed me all the new buildings constructed with 21 floors or more. I live very near to work, so I walk short distances, and for long distances I usually travel under the earth, so seeing the city by car really amazed me, it's actually a whole medium european city (housing for 1 million people?) that Chile constructed beetween this space in less than a decade (well I arrived to Chile in 2015 and I don't remember all those buildings then).
Well this is just my visual perception anyway.
It kind of defeats the idea of investing, with rents being so cheap and all, and this new construction increasing the offer. Like in Providencia I can find 1b apartments in the likes of 400 lucas and there's this feeling that prices have been slowly lowering, while my salary has been moderately increased since 2015.
I really don't understand how come doesn't the housing market crash, it's magic to me, but I guess buying prices will continue to increase with this new lowered interest rates, so really the money I'm saving not buying will continue to be "eaten" by the prices increase I guess.
A couple of months ago one of our bathrooms required big repairs, the bill was 550K. I was nice not to have to pay for that