Chile Property Investment News

Chilean government invests in international accessibility

The Chilean government has taken a large step towards making the country more easily accessible to visitors, second-home owners and businesses by pledging a total of $106 million to the construction of new airports and the improvement of existing airports. Investors in Chilean property can look forward to an increased number of visitors needing holiday accommodation and further growth in the Chilean economy with rising corporate investment as a result of the move.

The full investment consists of $26 million of state funds and $80 million in concessions, which will go towards the construction of two new airports and upgrading a further eight. The new airports will include an international airport near Temuco and a first airport for the island of Chiloe.

Renovation projects include $12 million-worth of improvements to Chile’s main hub for air travel – the Arturo M Benitez International Airport in the capital city of Santiago. Chile’s capital city is one of the most popular choices for real estate investors, and is one of the South American continent’s main financial centres. With such large multinationals as Microsoft, JP Morgan, Coca-Cola and Ford choosing the city for their regional bases, many private property investors are attracted by its expanding economy and the ongoing infrastructural improvements. As more businesses move into the country, so the earning power of the Chilean people increases and the demand for a good level of accommodation to buy or to rent rises accordingly, providing the market with an extra degree of stability.

The recently announced improvements to the city’s airport include a new terminal along with more areas for international passengers. The airport currently receives 6.6 million passengers a year.

The expansion of Chile’s airports will also make the country more appealing to holidaymakers. The country is already receiving a growing number of tourists, in particular international tourists including long-haul travellers.