Housing market situation

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Baltimore
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Re: Housing market situation

Post by Baltimore » Thu Nov 14, 2019 7:17 pm

Independencia Rentas Inmobiliarias
Screen Shot 2019-11-14 at 1.38.07 PM.png
43% drop so far, from 2.634 to 1.501 today...ouch!

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41southchile
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Re: Housing market situation

Post by 41southchile » Fri Nov 15, 2019 7:41 pm

Wife talked to her "real estate agent" friend in Puerto Varas today, she was saying there is nothing under 800 thousand pesos to rent in Puerto Varas due to the influx of Santiagoites and Northeners (anyone north of Temuco for people here is from the North) coming to live in Puerto Varas, most houses are a million plus to rent. What comes into the market rents straight away.
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

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Re: Housing market situation

Post by Britkid » Fri Nov 15, 2019 8:10 pm

Do you mean a sudden increase of demand and reduction of prices in the market in the last 1 month? Or do you mean it was already like that before the unrest started? Or was it not made clear.

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41southchile
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Re: Housing market situation

Post by 41southchile » Fri Nov 15, 2019 8:19 pm

Britkid wrote:
Fri Nov 15, 2019 8:10 pm
Do you mean a sudden increase of demand and reduction of prices in the market in the last 1 month? Or do you mean it was already like that before the unrest started? Or was it not made clear.
Sudden increase in demand in last month, very difficult to find affordable houses to rent now, only homes available to rent are over 1 million pesos a month .
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

mem
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Re: Housing market situation

Post by mem » Fri Nov 15, 2019 8:59 pm

41southchile wrote:
Fri Nov 15, 2019 8:19 pm
Britkid wrote:
Fri Nov 15, 2019 8:10 pm
Do you mean a sudden increase of demand and reduction of prices in the market in the last 1 month? Or do you mean it was already like that before the unrest started? Or was it not made clear.
Sudden increase in demand in last month, very difficult to find affordable houses to rent now, only homes available to rent are over 1 million pesos a month .
Im curious what you get for over a million pesos in PV. Usually there aren't tons of places for rent south of santiago in that pricepoint

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41southchile
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Re: Housing market situation

Post by 41southchile » Fri Nov 15, 2019 9:13 pm

mem wrote:
Fri Nov 15, 2019 8:59 pm
41southchile wrote:
Fri Nov 15, 2019 8:19 pm
Britkid wrote:
Fri Nov 15, 2019 8:10 pm
Do you mean a sudden increase of demand and reduction of prices in the market in the last 1 month? Or do you mean it was already like that before the unrest started? Or was it not made clear.
Sudden increase in demand in last month, very difficult to find affordable houses to rent now, only homes available to rent are over 1 million pesos a month .
Im curious what you get for over a million pesos in PV. Usually there aren't tons of places for rent south of santiago in that pricepoint
I'll talk fo her directly over the weekend to find out and report back .
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

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tiagoabner
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Re: Housing market situation

Post by tiagoabner » Sun Dec 01, 2019 6:11 pm

I've been hunting for a new place since about when the protests started, so I'm going to share my anecdotal experience.

There are lots of vacant apartments in most desirable neighborhoods, and prices are lower than when I looked at the beginning of the year. There are also lots of apartments for sale in residential areas in Las Condes, which I believe are due to people that are leaving the city.

Most landlords are happy to have someone interested in their apartments, and the ones that have multiple apartments report that the market is really soft right now, especially for apartments going for $700.000 or higher. I've also talked to a real estate agency that's specialized in renting to foreigners, and per them, bookings have dropped by about 70%.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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admin
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Re: Housing market situation

Post by admin » Mon Dec 02, 2019 3:11 pm

yea, I was at the puerto montt airport, saturday afternoon, and it was a zoo. Saturday is almost never busy at that airport in the off season. Friday might be busy. Sunday might be busy. never Saturday.

I am betting by the end of February, prices on houses, parcels, around the lake see at least a 30% increase; even if just from a "hedge your bets and get a second home down south" crowd from Santiago.

In los condes, I know of at least two friends that are Chilean professionals with money, and highly portable skills, that are leaving the country and selling everything (i.e. multiple properties). antidotes, but I have also not been paying that much attention or asking around. just came up in conversation.

The great Santiago exudes has begun. last one to leave, please tern out lights in plaza itialia.
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admin
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Re: Housing market situation

Post by admin » Mon Dec 02, 2019 3:16 pm

mem wrote:
Fri Nov 15, 2019 8:59 pm
41southchile wrote:
Fri Nov 15, 2019 8:19 pm
Britkid wrote:
Fri Nov 15, 2019 8:10 pm
Do you mean a sudden increase of demand and reduction of prices in the market in the last 1 month? Or do you mean it was already like that before the unrest started? Or was it not made clear.
Sudden increase in demand in last month, very difficult to find affordable houses to rent now, only homes available to rent are over 1 million pesos a month .
Im curious what you get for over a million pesos in PV. Usually there aren't tons of places for rent south of santiago in that pricepoint
PV has been very different and tight rental market for well over a decade as any executives sent to los lagos, say salmon industry for example, would park their family in PV vs PM.

add lots of foriegners, seasonal rentals for vacations, etc, etc, and it draws the money in ways other places down south never have. It is also why the lakes has had a pretty tight labor market for years, while the rest of the country has its ups and downs.
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.

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tiagoabner
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Re: Housing market situation

Post by tiagoabner » Mon Dec 02, 2019 3:33 pm

admin wrote:
Mon Dec 02, 2019 3:11 pm
The great Santiago exudes has begun. last one to leave, please tern out lights in plaza itialia.
That won't be an issue: there aren't any left! :lol:
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

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fraggle092
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Re: Housing market situation

Post by fraggle092 » Mon Dec 02, 2019 4:11 pm

tiagoabner wrote:
Mon Dec 02, 2019 3:33 pm
That won't be an issue: there aren't any left! :lol:
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Naolin
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Re: Housing market situation

Post by Naolin » Mon Dec 02, 2019 4:33 pm

tiagoabner wrote:
Mon Dec 02, 2019 3:33 pm
admin wrote:
Mon Dec 02, 2019 3:11 pm
The great Santiago exudes has begun. last one to leave, please tern out lights in plaza itialia.
That won't be an issue: there aren't any left! :lol:
I think he must mean extinguish the fire :lol:

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