The real estate value added in Chile experienced moderate growth from 2013 to 2019, with an average annual growth rate (CAGR) fluctuating between 1.03% and 3.47%. The year-on-year growth also displayed positive momentum, peaking in 2015. However, 2020 marked a downturn with a 3.83% decline, primarily due to the global pandemic. Recovering slightly in 2021 and 2022, the growth rates remained marginal, leading to a contractionary CAGR of -0.45% by 2023.
From 2023 onwards, the real estate sector shows a stable but subdued recovery, projected to grow at a CAGR of 0.08% through 2028. The steady forecast suggests a tempered yet consistent improvement, indicating a return to stability in Chile's real estate market.
Future trends to watch for:
- Impact of economic policies on real estate investments
- Shifts in demand for commercial vs. residential spaces
- Technological advancements influencing property valuations
- Global economic conditions affecting foreign real estate investments in Chile
