Billionaire and former president, Sebastián Piñera, has won Chiles presidential election run-off.

Piñera defeated Left-winger Alejandro Guillier, who also conceded and congratulated him on his win and his return to the presidency after a four-year gap.

In his remark, Piñera said: "I want to talk to him about the points we agree about."

Piñera has polled more than 54% with nearly all votes counted.

In a report by BBC, it is a clear move to the right for the country, which is currently led by socialist President Michelle Bachelet.

Voters' turnout was low, at 48.5% despite the eligibility of 14 million voter in the ballot, including Chileans living abroad for the first time.

Piñera had reportedly called for unity after his victory saying "Chile needs agreements more than confrontations,"

"The paths of the future unite us. Sometimes the stories of the past separate us."