Viña del Mar is located 130 kilometers to the east of Santiago on the coast, in the region of Valparíso. It is known internationally for its resorts, hotels, and shopping centres. The name Viña del Mar means “vineyard by the sea” in English, giving you a great idea about what the city has to offer. The city has a population of just under 330,000 and is the fourth largest city in Chile. Home to a Mediterranean climate, you will find warm-summer temperateratures and a pleasing climate. Temperatures rarely go above the mid-80s and dip down into the low 60s during the summer nights. Winters find the city’s temperature between 41°F and 63°F.
Unfortunately, Valparaíso was the region in Chile hit hardest by the global recession. As a result, property values dropped significantly from their former high, where renovations of older buildings proved impressively profitable. With that said, in recent years Viña del Mar has shown significant signs of improvement and property values have increased. If you are interested in investing in property restoration or renovation and are willing to wait for a great return in the long run, Viña del Mar should absolutely be considered as a place of great investment potential.