Housing market situation

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tiagoabner
Rank: Chile Forum Citizen
Posts: 1157
Joined: Sat Mar 04, 2017 9:48 am
Location: Concón

Re: Housing market situation

Post by tiagoabner » Mon Jul 20, 2020 3:05 pm

GAminer wrote:
Mon Jul 20, 2020 2:53 pm
tiagoabner wrote:
Mon Jul 20, 2020 2:06 pm
Britkid wrote:
Mon Jul 20, 2020 1:44 pm
Thanks for the interesting article, and the other interesting part was evidence of rents in decline. Has anyone asked for a discount on their rent? How'd it go?
I asked for a discount in rent because I knew the market was pretty much dead (not because I needed it). My contract would run out on June 30, so I reached out to my landlord in March to check if they would be willing to budge. They weren't, so I started to look for options.

I was previously paying $850.000 for a furnished, 600 sqft, two-bedroom apartment close to the corner of Apoquindo and Manquehue, in Las Condes. It was at a desirable location and I got it during the protests last year (IE. I moved in a hurry, I didn't have time to shop, I was previously living next door to the protests), so I was surely overpaying a bit. I found similar apartments going as low as $650.000 in the same area, or slightly lower in other areas close-by.

I eventually rented a non-furnished, 900 sqft, two-bedroom apartment in Concón for $450.000. I now have a sea view and I'm living at an apartment 50% larger and I'm paying much less for it. I'll most likely buy it in 1-2 years. I'm fortunate that the industry I work at wasn't really hit by the pandemic, so I was in a good position to shop around.
How were you able to change regions during this quarantine?
There is a "permiso" for that, although it is now known as a "Salvoconducto individual - Mudanza". There was quite a lot of paperwork involved in the process, including a notarized "moving permit", but I fortunately had quite a lot of time to chase it all.
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.

PXYC
Rank: Chile Forum Citizen
Posts: 102
Joined: Sun Jan 27, 2019 9:09 pm

Re: Housing market situation

Post by PXYC » Mon Jul 20, 2020 11:17 pm

fraggle092 wrote:
Mon Jul 20, 2020 11:45 am
PXYC wrote:
Sun Jul 19, 2020 11:26 pm
The main testemony of this "La Tercera" article didn't followed the rules, he requested loans in different banks for 12 appartments at the same time. This is maybe.. illegal? It's a shame the system allows this to happen.
Didn't make my comment very clear, but I wasn't sympathising so much with this individual except as the victim of a system that allowed him enough rope to hang himself. Of course he overextended, and there are of course many Chileans in worse circumstances.

I was actually referring to this grossly materialist society where getting money to conspicuously consume seems to be the only point of life. Hence the drug dealing example. But maybe I should have kept my ideas to myself!
Yeah lots of people could have done what he's done out of impulse for better future prospects, just sayin'.. not to lose focus.. he did something illegal, I don't think the system should save these multi properties small investors. Just sell it or face foreclosure and get it over with.

PXYC
Rank: Chile Forum Citizen
Posts: 102
Joined: Sun Jan 27, 2019 9:09 pm

Re: Housing market situation

Post by PXYC » Mon Jul 20, 2020 11:26 pm

I did a quick round on portal inmobiliario today and there are almost no new appartments for sale here in Providencia. Its definitely a renters market in the big city. :)

paladin
Rank: Chile Forum Citizen
Posts: 527
Joined: Tue Dec 28, 2010 3:32 pm

Re: Housing market situation

Post by paladin » Tue Jul 21, 2020 8:53 pm

PXYC wrote:
Mon Jul 20, 2020 11:26 pm
I did a quick round on portal inmobiliario today and there are almost no new appartments for sale here in Providencia. Its definitely a renters market in the big city. :)
Providencia doesnt have any good available land to build on except maybe away from where people want to be. Try El Golf

PXYC
Rank: Chile Forum Citizen
Posts: 102
Joined: Sun Jan 27, 2019 9:09 pm

Re: Housing market situation

Post by PXYC » Tue Aug 25, 2020 3:07 pm

So, I entered today on remates macal for some brief minutes. Auctioned appartments in better areas of Santiago still at same price as the normal market. I guess I will never understand why remates in Santiago don't include the factor "auction" discount.

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