Argentines seek to live in Uruguay and exchange their houses in Punta del Este for apartments in Montevideo
As a result of the pandemic, Punta del este is not receiving tourists, 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.
One of the main objectives for which Argentines choose Montevideo is to rent the units to the Uruguayans themselves.
Promoted homes are established in Montevideo as a good investment option, with affordable prices, economic expenses and a return on rent that ranges between 5% and 6% in dollars.
The truth is that with a unit in Punta del Este you can buy two or more properties in Montevideo, although the number of operations is low, the movement exists and the construction companies offer facilities for Argentines to define their purchase.
With respect to the domestic market, it is not the same reality for the owners of a house that of an apartment. The houses are being rented by the Uruguayans themselves to get out of the routine and relax for a few days. On the other, the apartments that have amenities cannot be used due to the sanitary context we are living in.
Source: El Observador