South American Real Estate News
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Construction in Punta del Este, Uruguay is at its lowest point in 12 years.

In the medium term, a recovery of the activity is not expected. Compared to Puerto Madero, the new construction price gap expanded to 70%. Despite having a large number of real estate projects available, especially in Punta del Este, the construction is stalled in the area and is, in fact, at the lowest level for at least 12 years. At the beginning of 2018 it was thought that the recovery of the activity would happen in the short to medium term and although there are some positive signs, nothing suggests that…

Uruguay’s Luxury Residential Real Estate Market

URUGUAY’S LUXURY RESIDENTIAL MARKET OVERVIEW Uruguay’s luxury residential real estate market reached a peak in 2011, and has largely deflated since then, causing prices in the most areas to drop for all but a few the top tier of properties. The overall market has dropped by about 25 percent, but homes priced at $3 million or more have been less affected. There also has also been a large reduction in the volume of transactions making the market somewhat depressed. The market’s softening was caused…

Foreign Money Driving Uruguay’s Real Estate Boom

Espectador has a feature interview with former Uruguay Central Bank Director Juan Carlos Protasi regarding the status quo of Uruguay real estate and foreign investment. The current boom in Uruguay is due to new waves of foreign investment, says Protasi, and not because Uruguayan banks are loosening borrowing guidelines. “The good thing is that here in Uruguay there has been no intervention with the credit markets. If real estate prices fall a little bit, there won’t be an impact on bank portfolios. It’s…