There is an interesting discussion going on now over at the sociedadsouthron forum regarding the prices Punta del Este Real Estate in general and more particularly the prices of Punta del Este condominiums. While many of us (myself included) would have thought that the prices for condos in this seasonal “getaway” locale would have rolled over by now, the press is still reporting prices holding steady month over month and in a lot of cases showing large increases year over year.
There are many factors which may help explain the stability in uruguay real estate prices given the global decline in real estate prices worldwide.
Perhaps, the most pressing/obvious one is the ongoing financial difficulty in Argentina. The Argentine’s zeal to get their money extracated from Argentine banks and argentina real estate (which could be taxed at unconscionable levels to pay for the mess) has put a floor under the condo market.
The condo market allows an absentee owner to have a place within driving distance of Buenos Aires, while out of the reach of the Argentine government. The money flows out of Argentina — and into Uruguay — are also quite possiblly why the recent g20 meeting neary landed Uruguay on a “black list” of countries engaging in money laundering, etc.
Punta del Este Condominium Prices
There is an interesting discussion going on now over at the sociedadsouthron forum regarding the prices Punta del Este Real Estate in general and more particularly the prices of Punta del Este condominiums. While many of us (myself included) would have thought that the prices for condos in this seasonal “getaway” locale would have rolled over by now, the press is still reporting prices holding steady month over month and in a lot of cases showing large increases year over year.
There are many factors which may help explain the stability in uruguay real estate prices given the global decline in real estate prices worldwide.
Perhaps, the most pressing/obvious one is the ongoing financial difficulty in Argentina. The Argentine’s zeal to get their money extracated from Argentine banks and argentina real estate (which could be taxed at unconscionable levels to pay for the mess) has put a floor under the condo market.
The condo market allows an absentee owner to have a place within driving distance of Buenos Aires, while out of the reach of the Argentine government. The money flows out of Argentina — and into Uruguay — are also quite possiblly why the recent g20 meeting neary landed Uruguay on a “black list” of countries engaging in money laundering, etc.