La Serena

La Serena is Chile's second-oldest city and the colonial-architecture jewel of the north, paired with a six-kilometre beach strip (Avenida del Mar) and the clearest skies on Earth for astrotourism in the nearby Elqui Valley. A major domestic summer destination whose population roughly doubles in peak season, it anchors the Coquimbo conurbation with strong, seasonal short-let demand. Prices sit near USD 2,150/m² - roughly 27-32% below Santiago and about 20% under the national urban average - while gross rental yields run 4.7-5.2%, around the national mean (Chile's average gross yield was about 4.8% in 2025). Price growth has settled into a sustainable 2-3% nominal annual pace after the prior boom. Foreigners hold full freehold title identical to Chileans, permanently registered at the Conservador, with no residency requirement and only the usual border-zone caveat (irrelevant here). The investment case is value plus seasonal yield: affordable entry relative to central Chile, a doubling summer population that powers beachfront Airbnb, colonial-heritage scarcity in the historic centre, and astrotourism-and-mining-driven regional demand that together support dependable income and steady appreciation in a stable, lower-volatility market.