High price increases in Uruguay
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Montevideo enjoyed high residential property price increases in 2013, despite a slowdown since 2012 due to a significant drop in demand from neighboring Argentina. The average selling price for Montevideo apartments was 13% up during the year to November 2013, at around US$ 2,050 per square metre (sq. m.). There were spectacular price rises in Montevideo’s Zone 1, located in the coastal strip east of the capital.
House prices on the other hand, rose by around 9% y-o-y to November 2013, to an average selling price of US$ 1,750 per sq. m., according to property valuation firm Valora, as reported in Situacion Inmobilaria’s December 2013 newsletter.
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