La Serena, Chile’s second-oldest city, doubles in population during summer and functions as a metropolitanized suburb with strong residential rental potential—especially among mining executives and tourists.
Along the coastline and 470 kilometers north of Santiago sits La Serena. La Serena is the second oldest city in Chile and is a major part of the greater La Serena area, which has seen a 100% increase in its population over the last 20 years.
Most importantly, La Serena’s costal location and famous beaches have made one of the most important tourist destinations in Chile.
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
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In recent years, La Serena has become such a major draw for tourists that its population literally doubles during the popular high-season summer months.
Population here is 519,000. Again, there are ample opportunities to purchase properties to be used as hotels or other short-term rental properties here.
And because the city is such a popular vacation destination for upper-middle and upper-class families in Chile during the summer months, seasonal rentals and time sharing makes sense here, too.
Though tourism is the dominant industry and draw for La Serena, the city differs from the other above-mentioned cities in that it is also and primarily a residential area.
Many of the mining executives choose to raise their families in La Serena rather than in Antofagasta, the mining city. As a result, La Serena is structured as a “metropolitanized suburb.”
Not surprising for this high-traffic area, La Serena is home to the largest malls and shopping centers in Chile outside of Santiago.
Retail is a huge and booming industry here, and investors will see returns on properties resold for commercial purposes and entrepreneurs can try their hand at any number of commercial activities here.
| Expense | Monthly Cost | Notes |
|---|---|---|
| Rent | CLP 417,511 | |
| Gas | N/A | Included with electricity. |
| Electricity | CLP 86,484 | |
| Water | N/A | Included with electricity. |
| Telephone | N/A | Included with cable TV. |
| Internet | N/A | Included with cable TV. |
| Cable TV | CLP 77,537 | |
| Groceries | CLP 342,956 | |
| Entertainment | CLP 238,686 | |
| Total | CLP 1,163,174 |
Reviewed By Kathleen Peddicord
Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.
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Expats in La Serena like the neighborhoods of San Joaquín and La Serena Golf. San Joaquín is a gated community located on a hill in the center of La Serena, known for its winding streets, cul de sacs, and green lawns that connect to one- and two-story homes.
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