In addition, the number of purchase and sale operations sank 56% monthly in January and 26.78% year-on-year.
As every month, the National Institute of Statistics (INE) published its Real Estate Activity Indicators (IAI) that relieve the market for the sale of Uruguay and recorded in December a strong drop of 11.39% per month in the price of estate. If it is compared with the values of the same month but of 2021, the negative variation is of 2.78%.
The national median of transactions was located in the $70,000, with which the collapse from 79,000 dollars in November implied a significant drop in the indicator. In Montevideo prices remained stable in $110,000double that in the inside from the countrywhere the median also remained at $55,000.
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In the case of the country’s capital, the variable shows a positive balance year-on-year, with an increase of 3.5% in its prices; while in the rest of Uruguay the increase was greater: from 10% in the last 12 months.
The amount of transactions went underground
In the same line as the evolution of the prices of the sector in December, the number of purchase and sale registrations sank by 50.23% in January. However, from a seasonal perspective, the first month of the year always tends to show such a drop.
Even so, this was considerably lower than that of 2022. The current numbers, with 2,767 units sold, represent a reduction of 26.78% year-on-year. Indeed, this decline is also expected to deepen in the next report referring to February, where the figures tend to fall even more each year.
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Of the total, one 31.41% occurred in the city of Montevideo; 18.79% in the department of maldonado; 13.19% in cannelloni. They follow rock and Cologne with a 5.71% and 5.2% of the operations respectively.
In turn, in the same period there were 1,926 priority reservationswhich represented a 28.96% of the total of 4,175 transactions that took place in the real estate market. In parallel, there were 199 types of transactions (4.76%) that respond to the “Other” category.
Source: Ambito
