During the early 19th century, Santiago remained a small town with few buildings excepting Palacio de La Moneda, the building used as the Chilean mint during the Spanish period, and a few churches and other civic buildings. In the 1880s extraction of nitrate fertilizer in Northern Chile brought prosperity to the country, and promoted the capital city’s development. Important landmarks were built in 1910 during the Centennial celebrations of independence from Spain, such as the National Library and the Museum of Fine Arts.

Santiago began its transformation to a modern city in the 1930s, with the building of the Barrio Civico, surrounding El Palacio de La Moneda. The city also grew in population, due to migration from the north and south of Chile.

In 1985 an earthquake destroyed some historically significant buildings in the downtown area.

Santiago is now often considered an important financial center in Latin America.