02.10.2012 - Uruguay real estate transactions sharply decline due to Argentine demand fall off
On top of the generally weakening nature of the Uruguay economy and the decision of the Uruguay Central Bank to attempt to fend off inflation by increasing the reference interest rate to 9 percent, the real estate market is facing a major uphill battle as the beginning of the southern hemisphere summer season approaches. Reflecting what one commentator has defined as potentially the worst market scenario "in a decade", it was reported in iprofesional.com that the volume of real estate transactions in Punta del Este, one of South America's major beach destinations, has fallen 30 percent in 2012 compared to the previous year...............................................Full Article: Source
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