Real Estate and Construction Industry in Chile: A Comprehensive Guide
Real Estate
Real estate assets are tied to the ground and immobile, such as houses, buildings, plots, land, etc. Companies devoted to the sale of property (houses, apartments, businesses, land, etc.) are considered part of the real estate industry.
Subsidy
A direct state aid granted only once to the recipient to purchase a home for themselves and their family. This type of housing, to be economical and welcome to the DFL No. 2, may be new or used, urban or rural, or to build on your own site or for farm densification. The use of this property is for residential use only by the beneficiary and their family.
EGIS (Social Property Management Entity)
Entities that provide advice, guidance, and support to applicants, either in the process of buying or building their home.
MINVU
Is responsible for planning, housing development, and also developing and regulating the use of spaces in urban centers to make them suitable to live in.
SERVIU
Materializes the plans and programs derived from MINVU’s urban housing policy, developing projects.
Housing SEREMI
Regional secretary for housing.
Wealth Tax
Direct tax levied on the personal net worth of individuals. As buildings become part of that equity, they are also recorded by this tax.
Appreciation
The increase in the value of the property has not been motivated by the efforts of its owner but is due to a rise in prices caused by other causes, mainly due to improvements made in the region by individuals or the government.
Habitability
Habitability, referring to the field of architecture, is the part of the discipline dedicated to ensuring minimum conditions of health and comfort in buildings. In particular, habitability is concerned with thermal and acoustic insulation, and sanitation.
Pricing
The process of estimating the value of an asset. Corresponds to the valuation of real estate business, is a document prepared by a professional appraiser or a realtor. Besides the commercial appraisal, it contains information about the tax appraisal, title deeds, contribution, location, size, build quality, and lifetime of the building. The real estate appraisal is used to make decisions to buy the home that is best suited in terms of location, quality, and price.
Lot
Land division process, whatever the resulting number of farms, whose project involves the opening of new roads, and the associated urbanization.
Location
It is a concept used by the science of geography to define the space organized by society. Location of a work that is defined by its boundaries.
LGUC
General Law of Urban Planning and Construction, contains the principles, functions, powers, authority, responsibilities, rights, sanctions, and other rules that govern the agencies, officials, professionals, and individuals in the actions of planning, development, and construction.
OGUC
Contains the regulations and the regulating LGUC administrative procedure, the process of planning, development and construction, and technical standards of design and construction due on the last two.
Overcrowding
Measures the ratio between the number of people in the household and the number of habitable premises occupied by a dwelling. It was estimated that there is overcrowding in a home environment when there are three people per room used for sleeping, and overcrowding is critical when more than three people are in the same conditions.
Social Stratification
The social notice or a means to represent a society’s social inequality in the distribution of goods and socially valued attributes. The concept of social stratification implies that a social hierarchy as well as a structured social inequality. This inequality is institutionalized and has consistency and coherence over time. Forms of social stratification, usually cited are the castes, estates, and social classes.
Urban Area
Surface area located within the city limits, for the harmonious development of population centers and existing activities and projected by the instrument of planning.
Urban Externalities
Refers to the impacts or effects of a project or development generates about others and about the territory. They can be positive or negative externalities. The first generates a cost to society and should be mitigated, while the latter generates a benefit to society and, therefore, should be encouraged.
Urban Extension Area
Land area located within the boundary urban, for urban growth projected by the inter-regulatory plan.
Rural Area
Territory located outside the city limits.
Human Settlement
Place to live permanently in a group of people, usually consisting of houses and other buildings complementary.
The Real Estate and Construction Industry
They also often provide real estate services, as well as the sale of properties:
- Mortgage Loans
- Valuations of properties
- Rental property
The existence of real estate, construction and financial to the same firm that the law does fall short of mutations and fusions of the market. It should be regulated by the government through Minvu. Housing financing is obtained as the initial effort shared between people (savings), the direct contribution of the State (subsidies), and the financial market (mortgage). The promotion, scheduling, and construction projects in the private sector.
Scales of Social Stratification
Traditional variables: employment, education level, income.
Subjective variables: cultural elements, territorial elements, elements of gender equity.
MIDEPLAN
He is responsible for assessing the socioeconomic situation and the impact of social programs in the lives of people through the CASEN, which is a measurement tool for the design and socioeconomic assessment of existing social policy in Chile.
Social Classes
Group of people who share common social and economic interests.
Social Stratification
Division of the population in different layers, a group of individuals who have the same social quality. Common factors such as wealth and quality of life.
Wealth tax: personal direct tax levied on net wealth individuals. While buildings become part of that equity, are also taxed by this tax.