Residential Real Estate - Chile | Statista Market Forecast

The Residential Real Estate market market in Chile is forecasted to achieve a remarkable value of US$1.55tn by the year 2024.
This projection indicates a prospective annual growth rate (CAGR 2024-2029) of 5.48%, which is anticipated to drive the market volume to reach an impressive US$2.02tn by 2029.
In a global context, it is noteworthy to mention that China is expected to generate the highest value in the Real Estate sector, projected to reach an astounding US$112.9tn in the year 2024.
Chile's residential real estate market is experiencing a surge in demand due to its stable economy and attractive investment opportunities.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

Chile is experiencing significant developments in its Residential Real Estate market.

Customer preferences: Homebuyers in Chile are increasingly seeking properties that offer both functionality and sustainability. There is a growing demand for energy-efficient homes that incorporate eco-friendly features such as solar panels and rainwater harvesting systems. Additionally, buyers are looking for properties with modern amenities and spacious living areas that cater to their changing lifestyles.

Trends in the market: One notable trend in the Chilean Residential Real Estate market is the rise of mixed-use developments. These projects combine residential, commercial, and retail spaces in a single complex, providing residents with convenient access to various amenities and services. This trend is driven by the desire for a more integrated and efficient urban lifestyle. Another trend is the increasing popularity of co-living spaces, particularly among young professionals and students. Co-living offers a more affordable and flexible housing option, as residents share common areas and utilities. This trend is fueled by the high cost of living and the desire for social connections and community living.

Local special circumstances: Chile's geography and natural beauty play a significant role in shaping the Residential Real Estate market. The country's diverse landscapes, including the Andes Mountains and the Pacific Ocean, attract both local and international buyers looking for properties with stunning views and outdoor recreational opportunities. Additionally, the stability of Chile's political and economic environment makes it an attractive destination for real estate investments.

Underlying macroeconomic factors: Chile's strong economy and stable political climate have contributed to the growth of its Residential Real Estate market. The country has experienced steady economic growth over the years, driven by sectors such as mining, agriculture, and services. This has led to an increase in disposable income and purchasing power, allowing more people to invest in residential properties. Additionally, low interest rates and favorable mortgage conditions have made homeownership more accessible to a broader segment of the population. In conclusion, the Residential Real Estate market in Chile is developing in response to changing customer preferences, such as the demand for sustainable and functional homes. The market is also influenced by trends such as the rise of mixed-use developments and co-living spaces. Local special circumstances, including Chile's geography and political stability, further contribute to the growth of the market. Finally, underlying macroeconomic factors, such as the country's strong economy and favorable mortgage conditions, support the expansion of the Residential Real Estate market in Chile.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate - Chile

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Real Estate Type

Living Space

Methodology

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