The Uruguay property market in 2024 continued to show its characteristic resilience and activity, navigating through periods like the national elections with steadfastness. At UruguayProperty.com, our role for over 18 years has been to provide clarity and expert guidance. In this post, we’ve meticulously summarized and analyzed the key findings from the comprehensive “Radiografía 2024” report, primarily provided by InfoCasas, a leading property portal in Uruguay. Our goal is to distill this valuable data into actionable insights for you, leveraging our deep-seated understanding of the local real estate landscape.
The 2024 Uruguay Property Market by the Numbers: An InfoCasas Data Summary
The “Radiografía 2024” report from InfoCasas painted a clear picture of digital engagement with the Uruguayan property market:
- The InfoCasas portal registered a significant 12,472,575 visits throughout 2024.
- It hosted 589,732 active monthly users, marking a 5.1% increase from 2023.
- A total of 1,961,766 inquiries were processed via the portal, indicating sustained market interest.
- 204,397 unique properties were listed, showcasing the available inventory.
At UruguayProperty.com, we see these figures from InfoCasas as a confirmation of the active market we engage with daily. The reported demand split (45% rental, 41% sales, 14% temporary rental) and search origins (81% Uruguay, 11% Argentina) mirror the diverse client needs we’ve been addressing for nearly two decades.
Sales Market Deep Dive: UruguayProperty.com Interprets InfoCasas’ Findings
Montevideo’s Continued Dominance, Maldonado & Canelones on the Rise: InfoCasas data confirms Montevideo as the hub of real estate activity, capturing 62% of sales demand. This aligns with our experience at UruguayProperty.com, where the capital remains a primary focus for many clients.
The report also highlights the growing importance of Maldonado (19% demand share, including Punta del Este) and Canelones (16% demand). As we’ve often discussed with our clients, Maldonado’s year-round appeal and Canelones’ blend of tranquility and accessibility are significant trends. Our 18+ years allow us to provide nuanced advice for those looking to invest or reside in these increasingly popular departments, based on solid market data like that from InfoCasas.
Price Segments & Property Preferences (InfoCasas Data Analyzed by UruguayProperty.com):
- Data from InfoCasas shows 53% of buyer interest was for properties up to USD $150,000.
- A further 38% targeted the USD $150,001 to $300,000 bracket.
- Apartments were preferred (72% according to the report), with studios and one-bedroom units being particularly popular. Our experience at UruguayProperty.com confirms these are often sought for investment and resale.
Trending Zones Highlighted by InfoCasas: The InfoCasas report identifies areas like Carrasco Norte, Mansa in Punta del Este, Carrasco Este, and Ciudad de la Costa as experiencing notable growth. We’ve been actively guiding clients in these zones, seeing the data translate into real-world opportunities.
Average Price Per Square Meter (USD) in Key Montevideo Neighborhoods (Source: InfoCasas 2024 Report):
- Zona Golf (Punta Carretas): $4,220
- Carrasco Sur: $3,840
- Pocitos: $3,285
- Cordón: $2,680
Understanding these figures, provided by InfoCasas, is vital. At UruguayProperty.com, we help you look beyond the numbers to find the true value.
“Vivienda Promovida” (Promoted Housing): Impact According to InfoCasas Data
The Promoted Housing Law (No. 18,795) has been a significant market force, with the InfoCasas report noting a record 39,000 units developed under this scheme by 2024 (a 27% increase from 2023).
- InfoCasas data indicates Montevideo (59%), Canelones (21%), and Maldonado (7%) led in these projects.
- Crucially, the report states 84% of these units were purchased for investment.
- 1,943 purchase agreements for promoted housing were reported for 2024 by InfoCasas.
For investors, the insights from InfoCasas on Vivienda Promovida are invaluable. UruguayProperty.com uses this data to provide tailored advice, helping clients navigate these specific investment avenues effectively.
The Rental Market: Tenant Preferences Based on InfoCasas Data
The InfoCasas “Radiografía 2024” report details rental market preferences:
- Apartments: One-bedroom units (47%) and studios (16%) were most sought after.
- Houses: Two-bedroom houses led demand (58%).
- Price Point: 60% of rental demand was for properties up to $35,000 Uruguayan Pesos per month.
Cordón, Pocitos, and La Blanqueada were identified by InfoCasas as top rental zones. At UruguayProperty.com, we leverage such data to optimize outcomes for both landlords and tenants.
Market Context: Insights from 2023 Census & User Surveys (via InfoCasas)
The InfoCasas report also incorporates data from the 2023 Census (e.g., 19.5% of homes unoccupied nationwide) and user surveys (e.g., 65% prefer houses). This broader market intelligence, compiled by InfoCasas, informs our strategic advice at UruguayProperty.com.
A Move Towards Greater Professionalism
The InfoCasas report touches upon the approval of Law No. 20,380 (creating a registry for real estate operators). This drive towards enhanced professionalism is a standard UruguayProperty.com has upheld for over 18 years.
Your Experienced Guide Through the Data
The Uruguay property market 2024, as detailed in the InfoCasas “Radiografía 2024” report, offers a wealth of information. At UruguayProperty.com, we’ve taken this extensive data and broken it down to provide you with clear, actionable insights backed by our 18+ years of on-the-ground experience.
Making sense of market reports and translating data into sound property decisions is what we do best. We understand the nuances behind the numbers and how they apply to your unique goals.
Ready to transform data into your next successful property venture in Uruguay? Contact the seasoned team at www.uruguayproperty.com today. Let us put the power of information and decades of experience to work for you.
