Chilean capital ranks high for investment

Santiago has been voted as one of the most important cities in Latin America, based on the interests of those looking to invest in the capital’s property market.

Santiago holds the title for 5th most important city in Latin America for the rich and wealthy according to Knight Frank. Photo by Santiago de Chile / Facebook
Santiago holds the title for 5th most important city in Latin America for the rich and wealthy according to Knight Frank. Photo by Santiago de Chile / Facebook

Chile is internationally famed for having one of the most stable economies within Latin America. It’s for this reason that foreign investors have steamed to the country and to make the most of its entrepreneurial atmosphere and innovation-friendly national market.

Santiago picked up a further accolade recently, though, when it was named among the top Latin American destinations for international investment, according to the Knight Frank Wealth Report 2014 — a residential and commercial property consultancy which was launched in 1896 from offices in London.

The rankings, as laid out by Knight Frank, are based on both present findings and informed predictions of the ways in which the company believes the cities involved will continue to develop between now and 2024.

There’s little surprise to be had from the ranking order at the very top of the list. The Knight Frank report cites London as being the most important city worldwide for the ultra-wealthy, with New York coming in at second place and Singapore securing third. Whilst very few changes have occurred at the very top-end of the list, things start to get interesting just down the rankings.

According to Knight Frank’s investigations, Sao Paulo, Istanbul, Abu Dhabi, Mumbai and Sydney are becoming increasingly more interesting to financial investors, particularly those within the property sector. The report also breaks the analysis down into world region demographics. In the Latin American group, Santiago ranks as the fifth most important city for those with money to invest — following only behind Sao Paulo, Rio de Janeiro, Buenos Aires and Mexico City.

Santiago’s leap to the top of the investment league is not a fleeting moment of fame either. In 2010, Chile’s capital city was voted the second most attractive destination within Latin America for business innovation and start-up ideas. Within the first couple of months of 2014, Chile was also ranked as the most influential country in Latin America for business and tourism marketing — cited as having an unmatchable ability to draw in potential businesses and visitors via the online, digitalized market.