Abandoned Punta Condo Sells At Auction For US$1.98 Million

Patrick Archer aruba, foreign investment, real estate, uruguay

Call it the last of a generation. Or the last of a bunch of abandoned high-rise projects that came out of the ground 35 years ago but never reached completion, because of the 1982 financial crisis. They are “The Skeletons of ’82,” says El Pais’ Marcelo Gallardo. For over three decades they’ve loomed over Punta del Este beaches and boulevards …

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 …

Prime Punta del Este Parcel Coming To Auction

Patrick Archer foreign investment, real estate, uruguay

One of the most coveted parcels in Punta del Este is coming to the auction block next month, and the announcement will certainly attract multiple foreign investor groups. Land sales in and around Maldonado are nothing new, but the size and location of this particular parcel makes it extremely valuable. According to Marcelo Gallardo of El Pais, the parcel in …