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 …

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 …

Maldonado, Punta del Este Uruguay Move $7 Million in Real Estate Per Day

Patrick Archer foreign investment, real estate, uruguay

Real estate transactions in the Uruguay state of Maldonando top $7 million dollars a day, according to new data released this week. Marcelo Gallardo of El Pais says a total of US$2.55 billion in real estate deals were closed between April of 2010 and April of 2011. And while projects in Punta del Este account for the bulk of that …

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 …