Punta del Este is Renting at the Same Rate or Better than Last Year

The rental market in Punta del Este is behaving as well as, or better than last year. The real estate agent Luis Sader denies that rent costs have increased 20% in dollars. Sader argues that the fall of the dollar impacts the cost of rent because the owners turn down lower offer prices.

The tourist season is already here. It begins on Tuesday at the beginning of December, although the elections and the flooding have stolen the headlines in recent days.

- How is the demand for rental properties in Punta del Este?

“From what we’re seeing, the demand for rentals is similar or better than last year.

- And rents?

“There’s more choice this year.  There are buildings with new units and new homes as well.

“They say from the outside that rents shot up 20% or more. Are you?

“We have not seen such an increase of 20% or more that you mention, we are closing operations at prices similar to last year.

- What affects the price drop in the dollar on vacation rental?

-The fall of the dollar affects the owners are more reluctant to lower prices because the dollars are worth less. Anyway, it’s still early as we are in peak season rents, supply and demand determine what happens to the rents.

- How is the market behaving in regards to Punta del Este real estate sales?

“The sales market remains active, and there is interest in properties, either as second homes or investment. The dollar’s decline makes them more reluctant owners when prices go down.