property
First-Home Buyers Drive 85 Million Peso Santiago Market Forward
Purchasers seeking their first property have increased their share of transactions in several districts this year as average values sit near 85 million pesos.
How we reported this
First-home buyer activity in Santiago rose during the first six months of 2026, with entry-level transactions accounting for 28 percent of sales recorded through June in districts outside the premium zones.
The uptick matters now because mortgage rates have eased from their 2025 peaks while overall market prices have climbed 4.2 percent year on year, pushing some young buyers toward outer districts where units start below the city average of 85 million pesos.
Activity has concentrated in Maipu along Avenida Pajaritos and in Quilicura near the new Metro extension stations, where two-bedroom apartments list between 62 million and 74 million pesos. In contrast, Providencia around Plaza Italia and Nunoa along Irarrázaval have seen fewer first-time deals as prices there begin above 95 million pesos.
Entry Points and Local Programs
The Ministry of Housing’s Subsidio DS1 program has supported 1,140 first-home purchases in Santiago this year, with Maipu and Quilicura together claiming 410 of those approvals. Foreign buyers, mainly from Argentina and Brazil, have added competition in Las Condes along Avenida Apoquindo but have largely avoided the lower-priced segments targeted by local first-time purchasers.
Chamber of Construction data released last week showed 3,850 units sold citywide between January and June, up from 3,210 in the same period last year. First-home buyers drove most of the gain, with average transaction values in Maipu falling 1.8 percent to 68 million pesos while Vitacura recorded a 6 percent rise to 142 million pesos.
Next Steps for Buyers
Prospective first-home buyers should check listings on the ReMax and Chilepropiedades portals for units under 75 million pesos in Maipu and Quilicura before the spring selling season begins in September. Pre-approval from BancoEstado or Scotiabank now takes under ten days for applicants meeting the 10 percent deposit threshold on properties below 80 million pesos.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.