(Sept 9, 2005) Real Estate sales jumped 11.4 percent nationally in the first half of 2005 with the largest growth coming from the capital city, Santiago. The sale of new homes and apartments set industry records in Santiago, further illustrating the strong pace of the national economy.
In Santiago, real estate sales increased overall by 4.7 percent in July, reflecting an addition of 3,328 new housing units sold. This addition puts the total sales of new homes and apartments at 16,568 units for the year, an increase of 8.3 percent over the same time period in 2004. New apartment sales led July’s rankings in Santiago with an increase of 12.6 percent, while housing sales fell 5.3 percent.
In apartment sales, downtown Santiago led the rankings in July, followed by the communities of Las Condes, Recoleta, Conchalí, and Independencia while the community of Maipú led the rankings in home sales, followed by Cerrillos y Pudahuel.
“These numbers reinforce the progress we have seen in this sector” said Otto Kunz, President of the Chilean Chamber of Construction, “we hope the next six months maintain this same level of growth.”
At the national level the real estate industry is reporting good numbers for the first half of the year also. With the addition of 26,593 new housing units, national real estate sales grew 11.4 percent over the same period in 2004.
July was a good month for real estate nationally with an addition of 4,958 housing units sold outside of the capital. This represents 5.2 percent increase for the month with apartments leading the sales figures, up 11.2 percent over 2004, while home purchases fell 1.6 percent relative to new home purchases. All together the country saw an increase of 12.3 percent in real estate sales for the month of July.
The Chilean Chamber of Construction is projecting an overall growth in real estate sales of 9 percent in 2005.
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