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Montevideo Real Estate Grows

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Montevideo's real estate market sees growing demand and European investments.

BY CHRONICLE STAFF

Montevideos real estate market is growing thanks in part to growing interest among companies and investors, according to Pablo Manes, corporate business manager for U.S.-based real estate broker Colliers International. Manes is based in Buenos Aires, from where Colliers also covers the Uruguayan market.

Meanwhile, there has also been growing demand for space in the old area of Montevideo, Ciudad Vieja, as well as nearby areas like the Free Zone and Pocitos, he says.

"These investments are generating new facilities that are more modern with better technology and a better corporate image," he says.

The growth comes as Punta del Este, Uruguay’s top resort city, is seeing a strong increase in demand and investment (see
Punta del Este Real Estate Grows).

GOOD OUTLOOK

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