Uruguay: Montevideo’s house prices up; Punta del Este down
After two year of house price falls, Montevideo’s property market is now showing signs of improvement. During the year to July 2016, house prices in the capital city Montevideo rose by 2.53%, to an average of US$2,515 per square meter (sq. m.), based on data compiled by El Observador from a database of 20,000 condominiums.
Among the seventeen Montevideo neighborhoods included in the survey, Centro recorded the biggest house price increase of 9.6% during the year to July 2016, followed by Prado (7.6%), Ciudad Vieja (7%), Malvin (6.8%), Tres Cruces (4.3%), Punta Gorda (4.1%), and Cordon (3.6%). Minimal house price rises were seen in Aguada (2.9%), La Blanqueada (2.8%), Parque Rodo (2.7%), Pocitos (2.6%), Carrasco (1.8%), Centro (1.7%), Union (0.3%), and Punta Carretas (0.1%). House prices in Buceo were almost unchanged while they fell by 0.7% in Parque Batlle.
