Chile offers hope

Chile's property market is set to offer new hope and opportunity. While the economy did not expand here, inflation remains unchanged, and opportunities are out there.

Chile is a mixed bag of opportunity. The country does have a large investor following as one of the most stable countries in South America. The economy here is one of strength, especially when compared to other emerging economies and property markets in the world.

Part of the investment interest comes from the tourism industry, which is relatively good here. Chile has been an important favourite among skiers, and those travelling through the country to see ruins from ancient civilizations. Tourism helps to fuel the property market in many areas.

Chile has many benefits in terms of overall safety. With a low crime rate, as well as a low cost of living, investing here seems to be a no-brainer. Many buy property to let for tourism purposes, but second home purchases even for retirees are popular.

The economy is one that has ups and downs. For example, Chile's inflation rate did not change through January. The annual rate did drop but is still high by most country standards at 7.5 per cent (though for South America this is not too bad.) The country also saw some economic growth, though less than what many hoped for. Chile's economy expanded 3.7 per cent in the month of December over 2006.

By most accounts, Chile is still an emerging property market that many are set to dabble in.

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