Information about the real estate business in Uruguay:
Under the influence of the growth of its port and tourism, the Uruguayan capital began to modernize a noble but old urban infrastructure. The Argentines seem very interested in this process.
The prestigious consultancy Mackenzie has predicted recently that Montevideo is, before the end of this decade, the city with the highest GDP per capita in Latin America. If so, the Montevideo we are clear that many things should improve in our city, to be up to the regional ranking. One of the things that must be modernized, among others, is the housing stock, one of the oldest in the region.
Montevideo is an old office park doubles as long to Buenos Aires, has a ratio of hotel rooms / people a hundred times lower than that exhibited by the Federal Capital and residential stock traded each year, shows an average age of about half a century. Much to improve, as it looks.
From 2003 to 2010, only India and China grew more than Uruguay. However this was not reflected yet in the real estate development, because the industry had to compete for fundraising, with other sectors that were most successful (forestry, livestock, logistics, agriculture, TII, among others).This delayed the modernization of the stock and the development of some infrastructure collapsed now look like the hotel, for example.
The office market has developed in recent years, especially from the construction of new towers of the WTC complex and some free zone in the central area of the city. The sales value of new offices ranging from 1,900 to over 4,000 USD s/m2 and rents are between 15 and 40 U $ S/m2/mes. The vacancy rate remains low, especially in good locations.
Furnished apartments in Montevideo Uruguay:
Business entities in the real estate industry are acting very responsibly. Monitor the market to determine every six months, the number of new units put on the market and which are unsold. At the same time have a massed on the government to provide full tax exemptions to housing for segments of middle and low income. This proposal was turned into a bill by the Executive, a project that has already been approved unanimously by the Senate and is now in safe Deputies for approval. Thus it seeks to expand the range of private promotion, avoiding the saturation of offerings in the premium segment.
The novelty in recent months is the arrival of builders, investors and developers Argentines interested in doing projects in Montevideo. In fact, several developments have already released, others are in the pipeline and several land-buying-expected adoption of the law to promote affordable housing.With incidences are unknown in Buenos Aires, as it is still possible to buy land in the center of Montevideo, with incidences of between 100 and 150 m2 buildable UDS. In second line incidences ranging from 250 to 500 UDS/m2 almost extinct and the first line values and can exceed $ 1000 of incidence.
Buy a property in Montevideo
What is more attractive to developers Argentines is the abundant availability of credit at reasonable rates, terms and local currency long, plus the total tax exemption is offered for the production of housing for a segment that has an unsatisfied demand of thousands of homes. Exemptions are amplified if the homes built are for rent. Montevideo estimate that should be built in the coming years, some 35,000 homes to be for rental, in order to achieve the percentage of tenants that the city had in 1985 when there was almost no urban informality. The plan, originally proposed by the Assoc private developers, aims to reverse the urban informal sector, improve social inclusion and increase public safety. A combo-that-be realized only accrue to winners throughout the city. The political system well understood and unanimously support the future law.
Tags: Buy a property in Montevideo. Furnished apartments in Montevideo Uruguay. Real estate in Montevideo. The real estate business in Uruguay:
