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, …

Punta del Este Real Estate: A Safe Harbor in Times of Crisis

Patrick Archer foreign investment, real estate, uruguay

It happened three years ago during the market panic following the collapse of Lehman Brothers, and it’s happening again during the latest debt downgrade-inspired sell-offs. International investors fed up with uncertainty and triple-digit days on the Dow are plowing their cash into Punta del Este real estate. Just as in 2009, El Observador’s Leonardo Luzzi says Punta is once again …

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 …

SOLD: The Uruguay Presidential Home in Punta del Este

Patrick Archer real estate, uruguay

As the most powerful man in Uruguay, you’ve got to think a few presidential perks come along with the office. No waiting at La Silenciosa, express check-in at Carrasco, maybe your very own chivito at La Pasiva for starters. How about a nice vacation home in Punta del Este? It turns out Jose Mujica and his presidential predecessors have all …

Real Estate Deals Along Uruguay’s Tango Coast Exceed $1.2 Billion in 2010

Patrick Archer foreign investment, real estate, uruguay

Of all the takeaways gleaned at the 2011 Salon Inmobiliario last week in Punta del Este, we were most impressed by the 2010 summary confirming our long-held belief the smart money is moving north of Punta along the Tango Coast of Uruguay from Maldonado and increasingly into Rocha. One of the highlights of the four-day Real Estate Expo held at …