Raw land purchases may have slowed down in Uruguay in 2009, but they rebounded 13% in 2010, according to El Pais. A total of 336,000 hectares (830,274 acres) changed hands in Uruguay last year in a grand total of 2,093 land transactions.
The 13% rise in number of deals was matched by a 13% increase in the value per hectare sold, writes Pablo Antonez. The average value per hectare in 2009 was US$2,329, while the average rose to $2,633 last year. And even though the total value of land purchases rose 17% last year to US$885 million, that figure is the second-lowest in the last five years.
After two straight years of $900 million plus in land sales, Uruguay land purchases peaked in 2008 at US1.26 billion before falling to US$753 million in 2009. But the slowdown has more to do with a lack of supply than a lack of interest adds Antonez. “Even though the total sales dollar amount has pulled back, what has grown consistently is the average price per hectare from US$385 in 2002 to $2,633 in 2010, an increase of 584%.” (Full Story in Spanish)
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