Montevideo Residential Real Estate Prices Post Modest Gains

Patrick Archer average prices, foreign investment, real estate, uruguay

Two months after housing data confirmed the first significant increase in Montevideo average real estate prices in over two years, another study suggests MVD prices are maybe firming up, albeit slightly, across the Uruguay capital. Montevideo Real Estate Prices Rise 6% In 10 Months is the headline of this week’s El Observador analysis of average residential prices in eighteen of the …

Montevideo’s Hotel Casino Carrasco Betting On New Business Plan

Patrick Archer competitiveness, foreign investment, hotels & casinos, lifestyle, real estate, tourism, uruguay

Eighteen months after its March 2013 grand opening, the Hotel Casino Carrasco is arguably the most high-profile luxury hotel in Montevideo. While hotel occupancy is solid (62% last quarter), hotel management is working on a new business plan to drive more business to the casino. Codere, the majority shareholder of the Sofitel Montevideo Casino Carrasco & Spa, is “betting on …

Private Developer Proposes Taking Carrasco Underground

Patrick Archer hotels & casinos, real estate, tourism, uruguay, visionaries

The March opening of the new Sofitel Casino Carrasco has ushered in a new wave of interest and investment in the popular Montevideo barrio, and one development group wants to transform the neighborhood’s most high-profile avenue.  A proposal is on the table for the construction of an underground parking garage that would run the length of Avenida Arocena from the Rambla …

Montevideo Real Estate Rental Demand, Prices Remain Firm

Patrick Archer aruba, real estate, uruguay

“The demand and the market remain firm. There hasn’t been a drop in rental rates nor a decrease in sales prices,” is the lead quote in today’s analysis of the Montevideo rental market in El Observador. As usual, the typical January/February slowdown in Uruguay rental market activity among families and working professionals was offset by college students in the interior …

Sofitel Casino Carrasco Opens A New Chapter of Luxury In Montevideo

Patrick Archer arts & entertainment, aruba, creative class, foreign investment, hotels & casinos, lifestyle, real estate, tourism, uruguay

The highly anticipated re-opening of one of Montevideo’s most beautiful landmarks finally took place last evening, a historic event symbolizing triumph over adversity and the undeniable appeal of Uruguay for foreign investors. On a beautiful Thursday evening in Carrasco, hundreds of invited guests, foreign dignitaries and proud Montevideanos gathered at the hotel’s entrance enjoying the sounds of the Philharmonic, champagne …