As a result of the pandemic, Punta del este is not receiving tourists and maintaining a vacation home is proving too expensive.
According to Ricardo Mataloni, commercial director of the developer Vitrum Capital, some Argentines are selling their properties in different areas of Buenos Aires and looking to put their houses for sale in Punta del Este with the intention of buying properties in Montevideo for permanent housing or to generate income. . Many want to give their property as a form of payment.
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The trend of Argentines who decide to emigrate from the other side of the Rio de La Plata continues to increase and this is reflected in the real estate sector
Until two or three years ago, the participation of Argentines in the real estate business was very low and, practically, concentrated in Punta del Este.
The website businessinsider.com, created a ranking of the 20 best democratic countries for Americans to move in after the pandemic, where the climate is decent and life is affordable.
Among other things, they have great weather, are welcoming to newcomers, and are not too expensive to live.
After the deterioration caused by the pandemic, the closing of schools, halting jobs, stopping stores, there was a drop in the supply of jobs, reaching the lowest levels since 2005.
To the 120 thousand lost jobs, the 240 thousand workers with suspension of activities join (INE)
After President Luis Lacalle Pou mentioned Uruguay's vocation to receive migration.
A virtual event entitled “Real Estate Opportunities in Uruguay” was held, where agents from the sector and investment advisers ratified the growing interest on the part of neighboring citizens to buy real estate or fields on this side of Rio de la Plata to obtain rent or to move.