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Real estate investments: Uruguay is consolidated as the destination of choice for Argentines

The buyers are Latin Americans, largely Argentines, who see Uruguay’s economic stability and significant returns on their investments, as well as the same middle-class Uruguayan residents seeking access to quality property in an urban setting where they can satisfy their needs. needs without straying from commercial, coastal and other natural settings.

Montevideo, Uruguay

Undoubtedly, the main attraction is centered in Montevideo, a safe investment option mainly due to its prices, affordable expenses and a return that is between 5% and 6% per year in dollars. In the case of the Uruguayan capital, we are talking about small agents because their search is focused on properties with two or three rooms that are around USD 75,000 and USD 160,000. These values ​​include the gain from the increase in the value of the property, further fueled by the increase in prices at a rate of 6.5% per year, which favors the taking of credits that help to carry out operations.

Added to this encouraging outlook is a vitally important fact: Uruguay welcomes both foreign developers and local investors with tax exemptions of diverse variety. The great example is the Promoted Housing Law. It is a brilliant instrument that has been in force since 2011 and supposes the exemption of taxes on Wealth, Income, Added Value and Transfer of Property for both developers and buyers in order to promote construction and access to properties for the middle classes. Such was its success that, in the last 10 years, more than 900 new real estate projects were created in Montevideo, creating more than 50,000 jobs.

From our vision as real estate developers with 15 years of experience in the region, we have been perceiving an avid and sustained predisposition to invest in Real Estate in Uruguay. At Vitrium Capital we wanted to be where the market would be in the future, that’s why we bet on Uruguay, with a focus on Montevideo, and today we already have six projects in the country that had an excellent reception from both the local and foreign public.

Being new to the market and with a story yet to be told, we began by launching 01 Parque Batlle, a multi-family development located in the vicinity of the park with the same name and important avenues in the city, a key location for new expansion opportunities. With the arrival of 01 Las Artes we wrote the second chapter of our experience in the region: its pre-sale and consolidation took place more quickly thanks to the novelty and attractiveness of its architecture and, in the same way, its location; this time, close to the Rambla and Plaza Independencia, in the heart of the Arts District.

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Vitrium Capital

The preponderant role of the strategic location encouraged us to sustain our modality of action in the region and we launched better proposals of a different nature such as 01 Del Centro, 01 Libertador, Carmelo Golf and 01 SYNC, our last bet. In order to measure the level of investment attraction that Uruguay receives in the region: having launched 01 SYNC in mid-July this year, we were able to sell 30% of the building (that is, 32 apartments) in just a month and a half later.

Cases like ours abound and drive the arrival of investments. Although some long-term challenges persist, the projections are very favorable: the conditions of economic, legal and social stability, predictability and policies sustained over time undoubtedly place the neighboring country at the epicenter of the investments of those who dare to diversify more. beyond the Argentine border limits. After successes, deviations and permanent bets, Uruguay not only emerged as a magnet for Argentine investments, but also consolidated its position as a model for the regional real estate sector.

CEO and founder of Vitrium Capital.

Source From: Ambito

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