Buying an apartment in Chile and Santiago in 2026

In Chile a foreigner needs only a tax number, and a cash deal costs an extra 1-1.5% of the price. A square metre in a Santiago new build is about $3,400, and buying gives no residence.

In detail

Chile sells flats to foreigners almost as it does to its own citizens: all you need is a Chilean tax number. A square metre in a Santiago new build costs about $3,400, and deal costs without a mortgage are 1-1.5% of the price. Buying gives no residence. The full review is on the page investment property in Chile; here is the short answer.

How much a flat in Santiago costs in 2026

New flats in Greater Santiago sold for about $3,400 per square metre on average in 2026.

• A 50 m² flat in a new build costs about $170,000.
• Prestigious districts in the north-east of the capital cost several times the average; the outskirts cost less.
• New-build sales in Santiago have slowed, so developers have finished flats and room to bargain.

Prices in Chile are quoted in an accounting unit indexed to inflation. So in pesos a flat gets more expensive every day, even if the seller has changed nothing.

What a foreigner can buy

• Flats, houses and commercial premises, without permits and on almost the same terms as citizens.
• Land in declared border zones is closed to citizens of countries bordering Chile. Russians are not affected by this restriction.
• The deal, taxes and a bank account require a tax number. It is issued by the Internal Revenue Service and can be obtained through a representative under a power of attorney.

Taxes and costs of buying a flat in Chile

• Notary: roughly $130 to $210 per contract.
• Registration of ownership in the Santiago real estate register: 0.2% of the price, capped at $275.
• In a new build, 19% VAT is already included in the price.
• With a mortgage: 0.8% stamp tax on the loan amount. Chilean banks rarely lend to non-residents.

All in, a cash purchase costs an extra 1-1.5% of the price. The owner pays an annual property tax of about 1% of the assessed value, with relief for some homes. More on the page taxes in Chile.

How to buy a flat in Chile: step by step

1. The buyer's tax number.
2. Check the real estate register: owner, mortgages, prohibitions, property tax debts.
3. Preliminary contract and deposit.
4. Purchase contract at a notary, payment through a bank.
5. Registration of ownership in the local real estate register.

Does a flat give residence in Chile

No, Chile has no separate ground for residence through buying a home. People move for work, business, study or family, and your own flat proves housing. Russian citizens need no visa to travel for viewings: they can stay in Chile for up to 90 days without one. More on moving on the page relocating to Chile in 2026.

FAQ