2022 was a difficult year for the real estate industry. Home sales were affected by tighter lending restrictions imposed by banks and high inflation, which caused the UF to exceed $35,000 by the end of the year. As a result, rental rates have been recovering—approaching pre-pandemic levels—and the multifamily concept is gaining momentum. 

In the wake of the pandemic, the most resilient real estate asset classes have been residential or multifamily rentals—a real estate business model that originated in the U.S.—and which consists of residential buildings designed exclusively for rental, which are typically managed by a specialized company that handles all lease agreements. These properties have weathered both inflation and the financial crisis.

In the first quarter of this year, occupancy rates for the complex reached 95%, with an average value of 0.279 UF/m2. 

What can we expect in 2023?

For the first half of this year, we have a cumulative CPI of 2.1%, compared to 6.1% for the same period in 2022. In addition, in April of this year, we saw that mortgage interest rates have fallen, providing more opportunities for people to buy their own homes.

The market is optimistic about the second half of the year, andduring which we can expect prices to stabilize, an increase in new home sales, and a decrease in mortgage interest rates.

Claudia Jamett

Fynsa AGF Team