As already reported in previous news, there was a great increase in the consultations and visits of Argentines to the pages of rentals and purchase and sale of Uruguayan properties, after the primary elections of that country.
The notorious of this fact is that most of the interest comes from savers and not investors, presumably people who have saved for years of work and use this capital to invest in bricks as a way to protect money.
As mentioned in the source, the operations mostly requested unused works, as well as buildings that average the 160,000 dollars that are also the most demanded at the time of renting.
As a measure to curb the increase in the dollar in Argentina, the Minister of Economy ordered a temporary exchange rate. This, in addition to the new conformation of the cabinet, as well as some economic uncertainties, led Uruguay to be a clear and safe option to invest in properties. And it is a long-term phenomenon since, according to data crossings, there is an increase in school enrollment reserves in schools in Punta del Este, so there is interest in moving and establishing some type of residence in our country.
This does not mean that the real estate market does not remain attractive for investments. It certainly is, given that properties in Uruguay doubled their value in the last 12 years.
Clarín himself published on November 23 other relevant data: wages in Argentina lost purchasing power, deteriorating access to housing and fewer and fewer square meters that families can aspire to. This is added to the lack of credits and the low capacity to save the family nuclei. Source: Click here
The information listed above does not mean that there will be a magical revival of the real estate sector, but there may be an improvement in the construction sector. If so, other variables are required, such as clear signals from the new government, a positive market context, to really bet on this sector by creating jobs around it, among other stimuli that will undoubtedly have a positive effect on the rest of the sectors of the economy.
Material generated from the site information: Radio Uruguay