What is the average Class A rent in Santiago?

Around 22000 CLP/sqft/yr ($24 USD) across the broader Class A index. Trophy submarkets like Las Condes (Sanhattan) command 20–40% above that.

How many months of rent-free are normal in Santiago?

4 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Santiago?

The Santiago Class A market is currently rising. Vacancy is 9.4%, which sets the negotiating context.

Headline Class A rent in Santiago is around 22000 CLP/sqft/yr ($24 USD), with 4 months of typical rent-free on a 5-year term.

Headline Class A rent: 22000 CLP/sqft/yr ($24 USD).
Trophy submarket rents (Las Condes (Sanhattan)) push to roughly CLP$26,000/sqm/mo · ≈ $31.9 PSF/yr USD.
Typical concessions on a 5-year deal: 4 months free rent.
Vacancy stands at 9.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Santiago Class A office rents and incentives

Headline Class A rent in Santiago is around 22000 CLP/sqft/yr ($24 USD), with 4 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 22000 CLP/sqft/yr ($24 USD).
Trophy submarket rents (Las Condes (Sanhattan)) push to roughly CLP$26,000/sqm/mo · ≈ $31.9 PSF/yr USD.
Typical concessions on a 5-year deal: 4 months free rent.
Vacancy stands at 9.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Santiago are quoted in CLP per sqft per year. Across the broad Class A index the figure is 22000, but the trophy tier in Las Condes (Sanhattan) reaches roughly CLP$26,000/sqm/mo · ≈ $31.9 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Santiago concessions on a 5-year Class A lease run to 4 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — 27% Chilean corporate income tax. 19% VAT (IVA). UF (Unidad de Fomento) inflation indexation applies to many contracts and rents.

Where rents land by submarket

Las Condes (Sanhattan) sits at the top end (~CLP$26,000/sqm/mo · ≈ $31.9 PSF/yr USD). Nueva Las Condes clears around CLP$18,000/sqm/mo · ≈ $22.1 PSF/yr USD as the prime tier. Santiago Centro represents the value end at ~CLP$14,000/sqm/mo · ≈ $17.2 PSF/yr USD. The full submarket map is on the Santiago city page.

Key facts

city	Santiago
country	Chile
region	Americas
classARentLocal	22000 CLP/sqft/yr
classARentUsd	$24/sqft/yr
vacancy	9.4%
typicalLeaseYears	5
typicalRentFreeMonths	4
submarkets	5
primeYieldPct	6.6%
trophyRent	CLP$26,000/sqm/mo · ≈ $31.9 PSF/yr USD
primeRent	CLP$18,000/sqm/mo · ≈ $22.1 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Santiago?: Around 22000 CLP/sqft/yr ($24 USD) across the broader Class A index. Trophy submarkets like Las Condes (Sanhattan) command 20–40% above that.
How many months of rent-free are normal in Santiago?: 4 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Santiago?: The Santiago Class A market is currently rising. Vacancy is 9.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction