MercoPress. South Atlantic News Agency
Chile’s market for luxury homes booming and immune to the global crisis
The market for luxury housing in Chile seems to be immune to the global crisis since there are families willing to disburse up to six million dollars to purchase the house or condo of their dream according to a report in Santiago’s El Mercurio. Read full article
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Disclaimer & comment rulesThis seems no different from the rest of the places around the world where the rich live.
Nov 22nd, 2011 - 12:37 pm - Link - Report abuse 0'Surplus' disposable income has always been put into bricks and mortar.
This just says that the rich today have surplus cash just like the rich of yesterday. . . . what it might also say is that people are anticipating more inflation and are putting their money into 'things'.
Geoff, I don't even consider this a big news at all. Not sure, if you have ever been in la Dehesa, Lo Barnachea, and other similar boroughs east of Santiago, but considering some of these mansions, 6 million is nothing out of this world.
Nov 22nd, 2011 - 01:16 pm - Link - Report abuse 0PS: The picture above is funny, it just shows an upper middle income home. Nothing to do with the mentioned 6 mio cases.
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