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Real estate prices showed a negative monthly variation of 3.53%

Real estate prices showed a negative monthly variation of 3.53%

The prices of the estate exhibited a negative variation of 3.53%, while there was also a decrease in the amount of purchase and sale registrations, in this case 2.05%, according to the Real Estate Activity Indicators (IAI), which prepares monthly INE.

The study, which uses data from the National Registry Directorate, In any case, it demonstrated the evolution of the real estate market, since the year-on-year variation is positive for both indicators, with an increase of 9.33% in the median price and 3.82% in terms of sales registrations.

Thus, prices stood at 82,000 dollars throughout the country, with a median of 112,572 pesos in Montevideo, which is equivalent to a decrease of 3.78% compared to last month, while they were at 60,000 pesos inside, equivalent to an improvement of 3.82%.

With these figures, a trend is ratified: values ​​grew for the second consecutive month outside the Uruguayan capital, while they fell again in Montevideo.

Meanwhile, the report of the INE reflected the negative variation in the amount of purchase and sale registrations, which reached 4,860 units in November. In total, 67.41% of the transactions correspond to High of sale, followed by the Priority Reservations, which occupy 29.5% of the total.

Regarding the data by region, Montevideo is again the department with the highest number of sales, with 36.52% of the total, followed by Maldonado, with 17.09% and Cannelloni, with 13.78%. Much later they appeared Cologne (4.94%) and Rocha (3.61%).

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There were more than 50,200 operations in the real estate market

In Uruguay More than 50,200 operations were registered in the moving year ending in August, according to the latest data from the INE, who showed a real-estate market dynamic in 2023, in a firm demand that is associated with the increase in real wages and the growth of employment.

Another important factor, mainly for medium and medium-high sectors, was the Promoted Housing, that grants extensive tax exemptions to home investors.

According to the data of the National Housing Agency (ANV) The program already has 1,270 promoted projects covering 33,812 homes. To that we must add 101 more projects under study, which involve 3,714 additional homes. So the program would already be reaching a supply of almost 38,000 homes since its beginning. Of that total, more than half have already been marketed. It should be noted that the developer keeps many of the homes on his property to put them on the rental market.

Source: Ambito

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