Uruguay real estate market shows modest growth in 2010, but it remains attractive for foreign investors.
According to managing partner of consulting firm Fischer and Schickendantz Juan Federico Fischer, the number of transactions in residential real estate in the country for the year increased by 10%, while average prices - 2%.
In the main resort of Uruguay Punta del Este real estate prices start at U.S. $ 1,8 thousand for 1 square. m, RBC reports referring to The New York Times. For this money you can buy four-room apartment a few blocks from the coast.
Much higher real estate prices in the resort of La Barra: from 2,8 thousand dollars for 1 sq. km. m. The newspaper said that in Jose Ignacio, the most prestigious district of the city, you can buy a house with four bedrooms and a swimming pool overlooking the ocean for 4 thousand dollars for a "square".
Real Estate in Uruguay is mainly interested buyers from Argentina and Brazil. "Investors from Brazil - quoted by The New York Times, Mr. Fisher - began to dominate the market only in the last four years." The expert also said an increase in interest in the estate of the South American country from buyers from Europe, USA and Australia.
"Uruguay is a favorable country for investors," - says real estate consultant company Reynolds Propiedades Bettina Trivero. Foreigners have the same rights as the Uruguayans, when it comes to buying real estate.