Chilean Chamber of Construction proposes housing savings account

The Chilean Chamber of Construction has proposed the creation of a Housing Savings Account to help citizens accumulate the down payment required for their first home. This initiative aims to address significant barriers in the Chilean real estate market, where homeownership rates have declined from 63% in 2017 to 52% in 2024.

The proposal includes incentives for those who maintain savings exclusively for housing purposes. José Jesús Velásquez, CEO of M&V Gestión Inteligente, noted that the down payment remains one of the most difficult obstacles for families to overcome. He suggested that the mechanism should apply to both new and used homes valued up to 4,000 UF to help families access established neighborhoods.