Real Estate

US $15 Million for 15 Hectares in José Ignacio

Thursday, 17 June 2010 09:22

A US millionaire paid US $15 million for an estate on 15 hectares (37.1 acres) on the Atlantic Ocean east of José Ignacio. This is the same investor who paid US $12 million several months ago for the adjoining 15 hectares, also oceanfront. He also bought a rural estate near Garzón, containing olive orchards, fruit groves, and vegetables. The entrepreneur plans to divide the land into small lots, adding premium services.

Between March 2009 and February 2010 almost US $17 million was invested in real estate in the area surrounding the José Ignacio lighthouse, bringing the total investment in rural areas of the Department of Maldonado to nearly US $128 million. The sales in José Ignacio represent 1.79% of total Maldonado Department sales between March 2009 and February 2010., which were nearly US $935 million.

A realtor in the area indicated that US investors are beginning to show interest in José Ignacio again, where activity has slowed since the 2008 financial crisis began in the US

On the contrary, the economic and financial crisis in Europe is still affecting investors from that area. Once an important source of both tourist and investment income, Europeans are no longer a factor in the area.

(www.elpais.com.uy, June 17, 2010)

No houses for rent in José Ignacio

Wednesday, 18 November 2009 00:00

The most exclusive resort of Uruguay will have a different summer this year due to lower rental prices. It seems this season will belong to the owners, since they took their houses out of the market so that prices won’t drop.

Higher Rents

Wednesday, 18 November 2009 00:00

The average rent in Montevideo increase about 200 Uruguayan pesos per month. The information is taken from a measurement made by the National Statistics Institute based on data from several offices and agencies to determine how prices evolve in pesos and dollars in sales transactions of properties

AFE to Begin Railway Refurbishment

Tuesday, 22 September 2009 00:00

On Tuesday, state rail company AFE will begin refurbishing a 422 kilometer stretch of railway between Pintado and Rivera.

Aguada Park to Inaugurate First Tower

Monday, 07 September 2009 00:00

In December, the first of the Aguada Park towers will open in Montevideo. 11% of offices are already reserved. This first building has 22,000 square meters of space, of which 17,000 are exclusively for office rentals. It has a 7,000 square meter parking area with a capacity for 250 vehicles.

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