Chile housing prices surge 92% since 2010

Chile has recorded the third-highest increase in real housing prices among OECD nations over the last 16 years, trailing only Turkey and Iceland. According to a study presented by the Chilean Chamber of Construction (CChC) and Econsult Capital, housing values in Chile surged by 92% between 2010 and 2024, significantly outpacing the OECD average increase of 38%.

The report highlights a growing crisis in housing accessibility driven by a decline in household savings and increased mortgage restrictions. Household savings have dropped from 16% of income in 2003 to just 7% today. This decline in savings has led to increased debt loads; households with mortgages now dedicate approximately 32% of their income to debt servicing. Additionally, housing sales in the country have decreased by 50%.