VanityBA: Behold The “De-Argentinazation” Of Punta del Este

Patrick Archer foreign investment, lifestyle, real estate, tourism, uruguay, vanityba

It’s the most colorful and accurate term to describe a major shift in local real estate markets since pesoficación, and this eight-syllable beauty is the hottest summer trend since political correctness rocked Mar del Plata’s backside. Desargentinización is how La Nacion’s Javier Navia describes the dwindling presence of Argentines on the Uruguay coast this summer, a trend first set in …

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 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 …

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 …

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 …