Punta del Este Real Estate

Punta del Este has long been South America’s attempt at an answer for Monaco.
However, it’s only recently that the momentum behind this once small resort village has reached a point where it is truly getting international attention in such far flung places as the EU and North America.

Punta del Este, literally “Point of the East”, is the eastern point where Uruguayans tend to deliniate the end of the rio plata and the beginning of the Atlantic Ocean. To be fair, the Plata river meets and mixes with the Atlantic ocean for many kilometers before Punta, and the “river” is still too broad to see across to Argentina some 150 kilometers westward past Montevideo and 1/2 way to colonia. However, the wave action on the Eastern side of the point does give the claim some credence to the locals.

Punta del Este is littered with condominium, apartments, clubs, restaurants, boutiques, hotels, and of course, casinos. For the most part, homes and apartments in Punta a jam packed during the high season summer months of December January Feb, with the most crowded, and subsequenty most expensive time being the first and second week after new years in early January.

Rents are so high during this period, that many landlords make their entire year’s income during the two month period of January and February.

Punta is estimated to swell in population from under 50k to over 400k during the peak months.

For years, tourists from Uruguay itself, Argentina and Brasil have flocked to Punta’s white beaches, however, recently the word has spread and tourists are starting to arrive on Uruguay’s shores to enjoy the gambing in Punta del Este, the hubub of Maldonado, and the unspoiled beaches in Rocha – Uruguay’s coast.

Meanwhile, Punta del Este real estate and real estate development throughout the point have yet to take a serious breather, in spite of the global real estate slowdown. Many (most) properties in Uruguay are purchased with cash and the erosion of credit seems to have only effected the marginal buyers. That is being offset, it would seem, by those looking for a “safe” place to stash some money. For now, they believe that uruguay real estate in Punta del Este is an answer. It remains to be seen if this can be maintained.