Coastal Uruguay Real Estate Sales Exceed US$100 Million a Month

Patrick Archer foreign investment, real estate, uruguay

Coastal real estate in and around Punta del Este continues to be a magnet for foreign investors, and the value of Uruguay homes and apartments sold tops US$100 million per month, according to El Observador. In the most recent twelve-month period examined, properties sold in Maldonado exceeded US$1.4 billion, and in the 28-month period from January 2009 to May 2011, …

Abandoned Punta del Este Hotel Sells For $10 Million

Patrick Archer foreign investment, hotels & casinos, real estate, uruguay

An abandoned high-rise on Punta del Este’s main drag will be reincarnated thanks to an investor group led by local architect Vito Atijas. Marcelo Gallardo of El Pais says the 17-story property which many locals and visitors remember as the Melia Hotel Punta del Este was purchased for US$10 million. The sale includes the hotel and the adjacent commercial properties …