This summer 27 building complexes in Punta del Este will be released, that represents 600 million dollars for sale. Around 300,000m2 are houses and apartments destined for the high end sector. In Punta del Este, 60% of the buyers are Argentine, 23% European, 10% Uruguayan and 5% between Brazilian and Paraguayans. The European distribute themselves mainly between Spaniards, Italian and French. Punta del Este is presented like the Saint Tropez of Latin America as far as prestige, image and beach diversity. A port that allows the arrival of boats and nautical sports, plus many options for tourists. The foreigners find in Uruguay very inexpensive services in relation to their country of origin, a friendly tax system similar to world-wide standards. Since 2003 there has been an increase in prices, both in the gene ral and premium sector. In 2006 there were 2,025 transactions registered in the resort; 1,568 were apartments and 457 houses.
The Spanish companies seem to be the experts in luxury construction in Punta del Este real estate. Their projects show large profits of up to 30% in the construction, taking advantage of the low value of land prices. In the case of Europe 60% of the costs are the ground, in Buenos Aires it is 45% and in Punta del Este it does not surpass 20%. The average cost of construction per m2 is around USD 850 or 575 euros. People are seduced by the sports facilities available, for example, golf, polo, soccer and the nautical activities including fishing. And of course, not forgetting the nightlife, glamour and good food.
Miriam Muller Residential Sales /Ventas 00598-98 789 130 miriam@gtsa-uruguay.com
