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30 October 2019 Share

Argentina's interest in buying property in Uruguay increases significantly



Due to the problems that are happening in the neighboring country, which manifested especially after the results of the PASO (primary, open, simultaneous and mandatory elections) are known, the Uruguayan real estate market is presented as an interesting option for investors Argentines.

On the other hand, the Argentine situation also remains unstable due to inflation, the increase in the dollar that devalued the currency and other deeper problems in its indicators, which have caused the profitability of renting properties in that country to decrease. According to the newspaper La Nación, it went from 2.5% per year to approximately 2%, so that the Uruguayan market is presented as an interesting investment possibility.

"After the PASO, the consultations of those who want to invest capital in Uruguay in real estate were increased considerably ... We were coming from a plateau situation and it began to move. We went from having almost no consultation related to the season to having five or six interviews per week with investments", said Gustavo Pereira.

The Internet portals of our country express precisely have an increase in such consultations and the site of the "Gallito" (www.gallito.com.uy) presented an increase of 52% (about 4,511 more users in July) in relation to the same period of the previous year. As for the month of August (in which we remember, the STEP took place), the increase was even higher, registering 6,863 more visits. In short, during both months there was an increase of 36% of Argentine users, who visited the property sales section on this portal.

"What the Argentine is looking for in Uruguay is stability. The first thing you want is for your investment to be secured: not to take it away, pesify or give you a bonus. The other characteristic for which you invest a lot in Uruguay is because it is easy A property is only purchased with an ID, and the idiosyncrasy: the Argentine is comfortable investing here and the other economic factor is that it is profitable, profitability is not brutal, but an apartment in Montevideo gives you 4% or 4, 5% annual return", Pereira said.

Both in Montevideo and Punta del Este there are very good opportunities in terms of profitability and in the latter, the largest consumers are precisely the Argentine public.

Said public “a few years ago it represented 80% of the demand and today they are 60%, the Uruguayans, 30% and the remaining 10% are Brazilians”. However, the newspaper adds that whoever buys in Punta del Este, does not it does so much for a matter of obtaining benefits - which is 2.5% to 3% annually - but for recreation and because it generally rents the property to compensate for maintenance costs.

Once the writing of this content was finished, the result of the presidential elections in Argentina was known, which gave the triumph - without a parliamentary majority - to Alberto Fernández. Because the Argentine dollar had a historic increase after the internal elections, Mauricio Macri set a monthly stock of US $ 200 to start the transition period between him and the new president-elect.

We must be attentive to the measures that the Uruguayan government will now have more to attract Argentine tourists (given the new restriction) and also expect concrete incentives from both countries, especially ours, which needs a good season to start the next year 2020.

Material generated from the information on the site: El País

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