Punta del Este Real Estate Prices Fall For Third Consecutive Year

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

Average real estate prices in Punta del Este have fallen for the third consecutive year, and local real estate offices are closing as more owners turn to non-traditional channels for renting their coastal properties. The tenth annual survey of new construction prices in Punta del Este shows average prices are down 7.6% compared to last year for residential towers and …

Punta del Este Bracing For Another Slow Summer Season

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

With only three months to go before summer, Punta del Este hotels, restaurants and real estate brokerages are bracing for the third consecutive season of fewer visitors and declining tourism revenue. Punta del Este Threatened By The Perfect Storm is the headline of Marcelo Gallardo’s analysis in today’s El Pais which predicts the 2014/15 summer season will be worse than …

Punta del Este New Construction & Average Prices Cooling Off

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

New residential construction and average condominium prices in Punta del Este are cooling off after a decade of blistering growth, according to new survey of real estate trends in el mercado esteño. Reporte Inmobiliario’s 9th Annual Survey of Punta del Este Real Estate Prices shows real estate prices only rose 1.53% in 2013, average prices have settled at US$4,000 per m2 …

Punta del Este Condo Auction Highlights Pent-Up Demand

Patrick Archer real estate, uruguay

When an investor group bought the abandoned Melia Hotel in Punta del Este earlier this month for US$10 million, the new developers talked about the building’s potential for attracting middle class buyers looking for their own private pedacito del este. At closure, the architect speculated small one and two-room units ranging in size from 430-680 feet would fill a void …

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 …