Best Areas to Invest Along the Carretera Austral: A Location-by-Location Analysis
The Carretera Austral: a corridor of opportunity
The Carretera Austral stretches over 1,200 kilometers through Chilean Patagonia, connecting towns that for decades remained isolated from the rest of the country. Today, continuous road improvements, the rise of nature tourism, and an influx of new residents have transformed this corridor into one of Chile’s most promising real estate investment zones.
Not all towns offer the same opportunities. Each location has its own risk profile, demand dynamics, and return potential. Below, we analyze the eight best areas for investment along the Carretera Austral.
1. Coyhaique: the regional capital
Coyhaique is the administrative, commercial, and services hub of the Aysen Region. With a population of roughly 60,000, it has hospitals, universities, an airport with daily flights to Santiago, and the largest concentration of services along the entire Carretera Austral.
Price ranges: Urban houses between UF 2,500 and UF 6,000 (approximately USD $100,000 to $240,000). Apartments between UF 1,800 and UF 3,500. Urban lots from UF 800 for a 300 m2 plot.
Recommended investment type: Long-term rental. Demand is stable year-round thanks to public servants, healthcare and education professionals, and aquaculture workers. Rental yields sit between 3.5% and 5% annually.
Growth drivers: Airport expansion, new digital connectivity projects, growth in the aquaculture sector, and an influx of young professionals.
Risks: Higher competition, prices already elevated for the region, and potential oversaturation in the short-term rental segment.
2. Puerto Aysen: the affordable alternative
Located 65 km from Coyhaique, Puerto Aysen is the region’s second city and serves as a port and industrial hub. Its proximity to the regional capital makes it an attractive option for those seeking lower entry prices.
Price ranges: Houses between UF 1,500 and UF 3,500 (approximately USD $60,000 to $140,000). Urban lots from UF 400.
Recommended investment type: Buy-to-rent or medium-term appreciation. The city is receiving public investment in port infrastructure and road improvements.
Growth drivers: Port development projects, road upgrades on the Coyhaique-Aysen route, and housing demand from fishing and aquaculture workers.
Risks: Less commercial dynamism than Coyhaique, dependence on the fishing sector.
3. Chile Chico: the microclimate on Lago General Carrera
Chile Chico is a pleasant surprise. It is one of the sunniest spots in Patagonia, with over 300 days of sunshine per year. Situated on the southern shore of Lago General Carrera and bordering Argentina, the town is experiencing sustained growth driven by tourism and fruit farming.
Price ranges: Houses between UF 1,200 and UF 3,000 (approximately USD $48,000 to $120,000). 5,000 m2 plots from UF 600. Lakefront land from UF 1,500.
Recommended investment type: Tourist cabins and lifestyle plots. The tourist flow to the Marble Caves and Lago General Carrera creates an intense high season. There is also opportunity in fruit cultivation (cherries, peaches) as a complementary income source.
Growth drivers: Tourism boom at Lago General Carrera, active border crossing with Argentina, favorable microclimate, road improvements from Puerto Guadal.
Risks: Limited winter access (dependence on ferry or gravel road), tourist season concentrated in 4 months.
4. Puerto Rio Tranquilo: epicenter of the Marble Caves
Puerto Rio Tranquilo has transformed from a tiny hamlet into one of Patagonia’s most visited destinations thanks to the Marble Caves (Capillas de Marmol). Accommodation supply still falls short of high-season demand, creating clear opportunities.
Price ranges: Houses between UF 1,500 and UF 4,000 (approximately USD $60,000 to $160,000). Lots from UF 500. Commercial properties (operating hostels, cabins) from UF 3,000.
Recommended investment type: Tourist accommodation (cabins, hostels, glamping). High-season yields can reach 8% to 12% annually for well-managed properties. Appreciation potential is high given the town’s accelerated growth.
Growth drivers: The Marble Caves as a world-class attraction, paving of the northern Carretera Austral stretch, increasing international tourist arrivals.
Risks: Extreme seasonality (occupancy drops sharply off-season), basic services infrastructure still limited, risk of tourism oversupply in the long term.
5. Futaleufu: world rafting capital
Futaleufu is internationally recognized for its river, considered one of the best in the world for whitewater rafting and kayaking. Adventure tourism attracts a high-spending visitor profile, both Chilean and international.
Price ranges: Houses between UF 1,800 and UF 4,500 (approximately USD $72,000 to $180,000). Rural plots of 1 to 5 hectares from UF 1,000. Operating eco-lodges from UF 5,000.
Recommended investment type: Eco-lodges, premium cabins, and adventure tourism. The premium segment has sustained demand from international tourists. Investment in experiences (fly fishing, trekking, rafting) complements real estate returns.
Growth drivers: International recognition of the river, increasing flights to the area, growth of fly-fishing tourism, border crossing with Argentina.
Risks: Access via 80 km gravel road from the Carretera Austral, strong dependence on seasonal tourism, strict environmental regulations.
6. Chaiten: the post-volcano opportunity
Chaiten was devastated by the eruption of the Chaiten volcano in 2008. Nearly two decades later, the city has been rebuilt and serves as the northern gateway to the Carretera Austral, with ferry connections from Puerto Montt and Chiloe.
Price ranges: The most affordable along the entire Carretera Austral. Houses from UF 800 (approximately USD $32,000). Urban lots from UF 200. Rural plots from UF 300.
Recommended investment type: Land banking for appreciation. Current prices reflect the lingering stigma of the volcano, but the town is fully operational and receiving public investment. There is also opportunity in transit accommodation for travelers heading south.
Growth drivers: Active ferry terminal, reconstruction with public funds, proximity to Pumalin Park, very low entry prices.
Risks: Real volcanic risk (the volcano remains active), persistent negative perception, winter isolation.
7. Cochrane: gateway to Parque Patagonia
Cochrane is the last town of any significance on the Carretera Austral before Villa O’Higgins. Its position as the gateway to Parque Nacional Patagonia (created by the Tompkins Foundation) gives it significant growth potential.
Price ranges: Houses between UF 1,000 and UF 2,800 (approximately USD $40,000 to $112,000). Lots from UF 300. Large rural plots from UF 500.
Recommended investment type: Eco-tourism accommodation and visitor services for Parque Patagonia. The park is attracting a growing flow of international tourists with high spending power. The supply of services remains limited.
Growth drivers: Consolidation of Parque Nacional Patagonia, route improvements, growth of international ecotourism, expansion of the trail network.
Risks: Extreme distance (330 km south of Coyhaique), limited basic services, small population (under 4,000 residents).
8. La Junta and Puyuhuapi: undervalued hot springs and fjords
La Junta and Puyuhuapi form a tourism axis in the northern section of the Carretera Austral. Puyuhuapi is known for its hot springs and its stunning fjord setting. La Junta, at the confluence of two rivers, is a mandatory stopover point.
Price ranges: Houses between UF 900 and UF 2,500 (approximately USD $36,000 to $100,000). Lots from UF 250. Fjord-front properties in Puyuhuapi from UF 1,500.
Recommended investment type: Tourist cabins and hot springs accommodation. Proximity to Queulat National Park and the Puyuhuapi Hot Springs generates consistent tourist flow. These towns are among the most undervalued along the Carretera Austral.
Growth drivers: Paving of the northern Carretera Austral stretch, Queulat National Park as an established attraction, natural hot springs, fishing tourism.
Risks: High rainfall (one of the wettest areas in Chile), short tourist season, limited services.
Quick comparison
| Location | Entry price (UF) | Best investment | Appreciation potential | Risk level |
|---|---|---|---|---|
| Coyhaique | 1,800 | Long-term rental | Medium | Low |
| Puerto Aysen | 1,500 | Long-term rental | Medium | Low-Medium |
| Chile Chico | 1,200 | Tourist cabins | High | Medium |
| Rio Tranquilo | 1,500 | Tourist accommodation | Very high | Medium-High |
| Futaleufu | 1,800 | Eco-lodge | High | Medium |
| Chaiten | 800 | Land banking | Very high | High |
| Cochrane | 1,000 | Eco-tourism | High | Medium-High |
| La Junta/Puyuhuapi | 900 | Cabins/hot springs | High | Medium |
Final recommendations
For conservative investors: Coyhaique and Puerto Aysen offer the greatest stability and consistent demand. They are ideal for long-term rental with predictable returns.
For moderate-risk investors: Chile Chico, Futaleufu, and La Junta/Puyuhuapi combine accessible prices with proven tourism growth potential.
For aggressive investors: Puerto Rio Tranquilo, Chaiten, and Cochrane present the greatest appreciation opportunities, but require risk tolerance and a long-term outlook.
Before investing in any location along the Carretera Austral, visit the area in person, consult with local professionals, and verify the regulatory status of the property. Patagonia rewards those who know the territory.