What are the price trends and forecasts in Chile right now? (2026)

Chile's residential property market in 2026 is in a slow recovery phase, with prices supported by inflation-linked UF pricing and easing mortgage rates, but held back by elevated unemployment and cautious buyers.

If you're wondering whether now is the right time to buy in Santiago, Viña del Mar, or any other Chilean city, this guide breaks down real prices, recent trends, and what the next few years might look like.

We constantly update this blog post with the latest data so you always have fresh numbers at your fingertips.

And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Chile.

Who is the author of this content?

THE LATINVESTOR

A team specialized in real estate investing in LATAM countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Chile. If you’d like to learn more about us, you can check our presentation page.

What are the current property price trends in Chile as of 2026?

What is the average house price in Chile as of 2026?

As of early 2026, the typical residential property in Chile costs around 4,000 UF, which translates to approximately CLP 159 million, USD 170,000, or EUR 155,000.

When you look at price per square meter, apartments in Chile average about 72 UF/m² (roughly CLP 2.86 million, USD 3,050, or EUR 2,800 per square meter), while houses come in lower at around 58.5 UF/m² (about CLP 2.33 million, USD 2,480, or EUR 2,270 per square meter).

To give you a realistic picture, about 80% of residential property purchases in Chile fall between 2,500 UF and 6,500 UF, which means most buyers spend somewhere between CLP 100 million and CLP 260 million (USD 105,000 to USD 275,000, or EUR 96,000 to EUR 252,000).

How much have property prices increased in Chile over the past 12 months?

Property prices in Chile have increased by roughly 4% to 6% in nominal UF terms over the past 12 months, though when you adjust for inflation, the real growth is closer to just 1% to 2%.

This range varies by property type, with well-located apartments in Santiago seeing the upper end of that band, while detached houses in less connected areas have grown more slowly or stayed flat in real terms.

The single biggest factor behind this modest price movement has been the easing of mortgage rates from their 2023 peak, which brought some frozen buyers back into the market without triggering a full-blown surge because unemployment remains elevated at 8.4%.

Which neighborhoods have the fastest rising property prices in Chile as of 2026?

As of early 2026, the three neighborhoods with the fastest rising property prices in Chile are Cerrillos, Conchalí, and Quilicura in Santiago's metropolitan region, all of which have benefited from improved Metro connectivity and urban consolidation.

These comunas have seen apartment values rise by approximately 8% to 10% over the past 24 months, outpacing the national average significantly, with Cerrillos leading the pack thanks to its combination of affordability and new transit links.

The main demand driver is straightforward: these neighborhoods offer buyers a realistic entry point into homeownership with dramatically better commute times than before, making them attractive to first-time buyers and rental investors who got priced out of traditional prime areas.

By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Chile.

We have made this infographic to give you a quick and clear snapshot of the property market in Chile. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.

Which property types are increasing faster in value in Chile as of 2026?

As of early 2026, the ranking of property types by value appreciation in Chile goes: compact apartments (studios and 1-2 bedrooms) first, followed by townhouse-style homes in condominios, and then detached houses in third place.

Compact apartments in well-connected Santiago comunas are appreciating at roughly 5% to 8% annually, outperforming larger property types because they represent the most accessible entry point for buyers and offer the strongest rental demand.

The main reason apartments are outperforming is simple: when mortgage rates are still elevated and unemployment sits at 8.4%, buyers prioritize what they can actually afford, and smaller units near Metro stations fit more household budgets while also being easier to rent out.

Finally, if you're interested in a specific property type, you will find our latest analyses here:

• How much do properties cost in Chile?
• How much should you pay for a house in Chile?
• How much should you pay for lands in Chile?

What is driving property prices up or down in Chile as of 2026?

As of early 2026, the top three factors driving property prices in Chile are easing mortgage rates (pushing prices up), persistent unemployment around 8.4% (holding prices down), and UF-indexed pricing that keeps nominal values sticky even when real demand softens.

The single strongest upward pressure comes from the fact that housing credit rates have dropped to the low-4% range from their 2023 peak, which has unfrozen buyer demand and allowed transactions to resume in desirable areas where sellers had been waiting.

If you want to understand these factors at a deeper level, you can read our latest property market analysis about Chile here.

What is the property price forecast for Chile in 2026?

How much are property prices expected to increase in Chile in 2026?

As of early 2026, property prices in Chile are expected to increase by 3% to 7% in UF terms over the course of the year, with the wide range reflecting uncertainty about job market recovery and credit conditions.

Forecasts from various analysts span from a conservative 2% to 3% if unemployment stays elevated and banks remain cautious, up to 7% to 8% if mortgage rates continue easing and confidence improves meaningfully.

The main assumption underlying most forecasts is that Chile will see moderate economic growth with inflation converging toward the central bank's target, which historically supports mild housing appreciation rather than either a boom or a bust.

We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Chile.

Which neighborhoods will see the highest price growth in Chile in 2026?

As of early 2026, the neighborhoods expected to see the highest price growth in Chile are Cerrillos, Quilicura, Quinta Normal, and San Joaquín in Santiago, along with San Pedro de la Paz in Concepción and select sectors of Concón near Viña del Mar.

These areas are projected to see price growth of 6% to 10% over 2026, roughly double the national average, driven by ongoing Metro expansion benefits and the fact that they still offer relative affordability compared to established prime zones.

The primary catalyst is improved connectivity meeting pent-up demand: as transit links mature, more buyers consider these areas livable, which compresses the price gap with traditionally expensive comunas like Providencia or Las Condes.

One emerging neighborhood that could surprise with higher-than-expected growth is San Joaquín, which sits at the intersection of multiple Metro lines and is seeing accelerated urban regeneration that hasn't fully priced into property values yet.

By the way, we've written a blog article detailing what are the current best areas to invest in property in Chile.

What property types will appreciate the most in Chile in 2026?

As of early 2026, compact apartments (studios, 1-bedroom, and small 2-bedroom units) in well-connected areas are expected to appreciate the most in Chile, followed by townhouse-style homes in condominios.

The projected appreciation for top-performing compact apartments is 5% to 8% over the year, driven by their accessibility to first-time buyers and strong rental demand from young professionals and students.

The main demand trend is affordability pressure: with mortgage rates in the low-4% range and unemployment still elevated, buyers gravitate toward smaller units that fit their monthly budgets, while investors favor properties with reliable rental income.

The property type expected to underperform is large detached houses in peripheral locations, which face weaker demand because they require bigger down payments, higher maintenance costs, and longer commutes, making them less attractive in the current economic environment.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Chile versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

How will interest rates affect property prices in Chile in 2026?

As of early 2026, declining interest rates are providing modest support to property prices in Chile, as housing credit rates in the low-4% range have improved affordability compared to the painful peaks of 2023 and allowed more buyers to qualify for mortgages.

The current benchmark policy rate has been easing, and mortgage rates for housing loans are expected to drift slightly lower through 2026 if inflation stays near target, though dramatic cuts are not anticipated.

In Chile's market, a 1% change in mortgage rates typically shifts purchasing power by 8% to 10%, meaning a rate drop from 5% to 4% could allow a buyer to afford a property worth roughly 10% more for the same monthly payment, which tends to firm up prices in liquid apartment markets first.

You can also read our latest update about mortgage and interest rates in Chile.

What are the biggest risks for property prices in Chile in 2026?

As of early 2026, the three biggest risks for property prices in Chile are further job market deterioration pushing unemployment above 9%, credit tightening if banks become more cautious about real estate lending, and excess inventory in specific submarkets forcing discounts outside prime areas.

The risk with the highest probability of materializing is persistent elevated unemployment, because even modest job losses would directly hit buyer confidence, increase mortgage delinquencies, and slow transaction volumes, creating a feedback loop that weighs on prices.

We actually cover all these risks and their likelihoods in our pack about the real estate market in Chile.

Is it a good time to buy a rental property in Chile in 2026?

As of early 2026, buying a rental property in Chile is selectively attractive, meaning it can work well if you buy a compact apartment near Metro stations, universities, or employment centers, but it's riskier if you're counting on rapid price appreciation to compensate for thin rental yields.

The strongest argument in favor of buying now is that mortgage rates have come down from their peak, entry prices in consolidating comunas are still reasonable, and rental demand remains solid in well-connected areas where vacancy rates stay low.

The strongest argument for waiting is that unemployment at 8.4% creates uncertainty about tenant payment reliability, and some submarkets still have elevated inventory that could pressure rents, so rushing into the wrong location could mean years of underperformance.

If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Chile.

You'll also find a dedicated document about this specific question in our pack about real estate in Chile.

Where will property prices be in 5 years in Chile?

What is the 5-year property price forecast for Chile as of 2026?

As of early 2026, cumulative property price growth in Chile over the next 5 years is expected to reach 20% to 35% in nominal UF terms, though in real terms after inflation, that translates to a more modest 5% to 15%.

The range of 5-year forecasts spans from a conservative scenario of roughly 15% to 20% nominal growth if the economy underperforms, up to an optimistic 35% to 40% if growth accelerates and credit conditions improve substantially.

This works out to a projected average annual appreciation rate of about 4% to 6% in nominal terms, or roughly 1% to 3% in real terms, which makes Chilean residential property a slow compounding asset rather than a get-rich-quick bet.

The key assumption most forecasters rely on is that Chile will maintain its institutional stability, keep inflation near the central bank's target, and avoid major external shocks, essentially a return to normal economic functioning rather than crisis or boom conditions.

Which areas in Chile will have the best price growth over the next 5 years?

The top three areas in Chile expected to have the best price growth over the next 5 years are Santiago's Metro-connected comunas (particularly Cerrillos, Quinta Normal, San Joaquín, and Quilicura), San Pedro de la Paz in Concepción, and Concón's Bosques de Montemar sector near Viña del Mar.

These areas are projected to see 5-year cumulative price growth of 30% to 50% in nominal UF terms, outperforming the national average by a meaningful margin thanks to improved connectivity, constrained supply of quality housing, and sustained middle-class demand.

This aligns closely with our shorter-term forecast because the same structural factors, like Metro expansion and relative affordability, drive both 1-year and 5-year appreciation, though the compounding effect becomes more pronounced over the longer horizon.

The currently undervalued area with the best potential for outperformance over 5 years is Conchalí in Santiago, which has lagged peers despite similar connectivity improvements and could see catch-up growth as buyers recognize its value proposition.

What property type will give the best return in Chile over 5 years as of 2026?

As of early 2026, well-located mid-market apartments in connected comunas are expected to give the best total return over 5 years in Chile, combining steady appreciation with reliable rental income.

The projected 5-year total return for top-performing compact apartments (appreciation plus rental income) is roughly 40% to 60%, assuming 4% to 6% annual price growth and net rental yields of 4% to 5% after expenses.

The main structural trend favoring apartments is affordability pressure: as household sizes shrink, more people move to cities, and mortgage qualification remains tight, demand concentrates on smaller, more accessible units that fit buyer and renter budgets.

For investors seeking a balance of return and lower risk, townhouse-style homes in established condominios offer a good alternative because they attract stable family tenants, have lower turnover, and hold value well during downturns while still participating in market upside.

How will new infrastructure projects affect property prices in Chile over 5 years?

The top three major infrastructure projects expected to impact property prices in Chile over the next 5 years are continued Metro line extensions in Santiago, urban highway improvements connecting peripheral comunas, and mixed-use transit-oriented developments around new stations.

Properties near completed Metro stations in Chile typically command a price premium of 10% to 20% compared to similar properties farther from transit, with the premium building gradually as the infrastructure matures and ridership grows.

The specific neighborhoods that will benefit most are Quilicura, Cerrillos, and San Joaquín in Santiago, which are still absorbing the impact of recent Metro expansions, as well as areas along planned line extensions that will see accessibility improve dramatically over the next few years.

How will population growth and other factors impact property values in Chile in 5 years?

Chile's population is projected to grow at less than 1% annually over the next 5 years, but the more important driver for property values is continued urban concentration in Santiago and regional capitals, which creates localized demand pressure even with modest national growth.

The demographic shift with the strongest influence on property demand in Chile is the rise of smaller households: as more young people live alone or in couples without children, demand tilts toward compact apartments in connected areas rather than large family homes in suburbs.

Migration patterns, including both internal migration from smaller cities to Santiago and international migration that has increased over the past decade, are expected to continue supporting rental demand and entry-level housing prices in metropolitan areas.

The property types and areas that will benefit most from these demographic trends are compact apartments in Metro-connected Santiago comunas and mid-market housing in regional capitals like Concepción and Valparaíso, where job opportunities and services concentrate.

We made this infographic to show you how property prices in Chile compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.

What is the 10 year property price outlook in Chile?

What is the 10-year property price prediction for Chile as of 2026?

As of early 2026, cumulative property price growth in Chile over the next 10 years is expected to reach 45% to 80% in nominal UF terms, which translates to roughly 15% to 35% in real terms after accounting for inflation.

The range of 10-year forecasts spans from a conservative scenario of 35% to 45% nominal growth if Chile faces persistent headwinds, up to an optimistic 80% to 100% if the economy outperforms and credit conditions remain favorable throughout the decade.

This works out to a projected average annual appreciation rate of roughly 4% to 6% nominally, or about 1.5% to 3% in real terms, making Chilean residential real estate a steady wealth-preservation vehicle rather than a high-growth investment.

The biggest uncertainty factor in making 10-year property price predictions for Chile is the path of global commodity prices, particularly copper, because Chile's income cycle remains tied to terms-of-trade and any prolonged weakness would dampen household formation and credit demand.

What long-term economic factors will shape property prices in Chile?

The top three long-term economic factors that will shape property prices in Chile over the next decade are productivity and potential GDP growth (which sets the ceiling for wage growth and sustainable housing demand), financial conditions and mortgage market depth, and urban policy including land constraints and permitting processes.

The single long-term economic factor with the most positive impact on property values in Chile will be continued institutional stability and inflation targeting, because predictable monetary policy allows buyers to plan long-term, supports mortgage lending, and keeps the UF-based pricing system functioning smoothly.

The single long-term economic factor posing the greatest structural risk to property values in Chile is commodity dependence, because a prolonged copper price slump would weaken government revenues, slow wage growth, and reduce the flow of investment that ultimately supports housing demand.

You'll also find a much more detailed analysis in our pack about real estate in Chile.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Chile, we always rely on the strongest methodology we can … and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

Source	Why it's authoritative	How we used it
Banco Central de Chile - IPV Index	Chile's central bank using actual transaction records, not listing prices.	We used it as the backbone for Chile-wide price direction because it reflects real sales. We relied on its methodology notes to explain why it's more reliable than portal asking prices.
Banco Central de Chile - IPoM March 2025	Official monetary policy outlook updated on a regular schedule.	We used it to anchor the 2026 macro scenario including growth and inflation convergence. We translated that macro path into what it typically means for housing demand and affordability.
Banco Central de Chile - IPoM December 2025	The most recent pre-January 2026 full economic outlook from the central bank.	We used its 2026 growth and inflation ranges to frame our forecast band for housing prices. We also used it to justify why the base case is modest growth, not a boom.
Banco Central de Chile - Interest Rates	Official national reference for banking rates including housing credit rates.	We used it to show how mortgage rates changed and why affordability improved versus the 2023 peak. We quantified the rate channel for 2026 using the housing loans rate level.
Banco Central de Chile - Housing Credit Rates	Dedicated series page for housing credit rates from the central bank.	We used it as the technical reference for housing credit rates that buyers actually feel. We kept our interest-rate commentary consistent with official series definitions.
INE - CPI Bulletin November 2025	Chile's official inflation print, essential because prices are quoted in UF.	We used it to anchor real versus nominal housing moves and explain why UF pricing can mask purchasing power changes. We converted nominal housing growth into real terms using the 12-month inflation rate.
INE - Unemployment Release	Official labor-market snapshot, key driver of household formation and credit risk.	We used it to explain why demand recovers gradually, not explosively, even if rates ease. We included it in the risks section since job market softening is a downside for prices.
SII - UF Value 2026	Official inflation-linked unit used for housing and mortgages in Chile.	We used it to translate UF-based home prices into Chilean pesos as of the first half of 2026. We kept comparisons consistent across time and property types using this reference.
CChC - National Real Estate Report	Main construction industry body with long-running housing market reporting.	We used it for market micro-data readers care about: typical UF per home and UF per square meter for houses versus apartments. We cross-checked our 12-month estimate with their year-over-year price change notes.
BIS - Residential Property Price Statistics	International standard-setter compiling cross-country housing price data.	We used it to triangulate Chile's housing cycle versus other countries and sanity-check direction and magnitude. We justified why real prices can look flatter than UF prices using their methodology.
FRED - Real Residential Property Prices Chile	Well-known public data portal distributing BIS series with easy downloads.	We used it as an accessible way to reference the latest real house-price series point for Chile. We cross-checked that our past 12 months story matches the international real-price measure.
CMF Chile - Mortgage Market Rates	Financial regulator with official and auditable rate series.	We used it as a regulator cross-check on the mortgage-rate environment separate from the central bank. We supported our interest-rate sensitivity discussion with their data.
MINVU - Housing Statistics Hub	Housing ministry's official statistics and policy evidence base.	We used it to frame structural drivers like housing deficit and permits context. We corroborated supply constraints and affordability narratives with their data.
Colliers Chile - Residential Market Note	Major global real-estate consultancy with recurring local market research.	We used it to name specific Santiago comunas where apartment values rose fastest recently. We added a neighborhood-level layer to complement national indices that don't go that granular.
IMF - Chile Article IV Consultation	International institution providing independent economic assessments.	We used it to understand productivity and potential growth that sets the ceiling for housing demand. We factored in their risk assessments for long-term forecasts.
Banco Central - Financial Stability Report	Official assessment of financial system vulnerabilities including real estate credit.	We used it to identify credit tightening risks that could affect property prices. We incorporated their risk framing into our downside scenarios.