Favorable investment context in the real estate industry

By Pittaluga Abogados

According to the latest Competitive Intelligence report issued by Uruguay XXI—the country’s investment, export, and country brand promotion agency—in 2017 Uruguay’s real estate GDP grew by 2.7 percent in real terms, reflecting the highest inter-annual growth in recent years. Uruguay offers ideal conditions for foreign investment, most notably the country’s respect for the rule of law, clear rules of the game, and an investor-friendly business climate.

Moreover, in the first quarter of 2018, economic activity saw a 2.4 percent growth in real terms and 2018 is expected to close with a 1.5 to 2 percent growth, thus accumulating 16 years of uninterrupted expansion.

It is estimated that demand will continue to drive growth in the rental market, as a result of the increasing number of immigrants applying for residency in Uruguay and the current trend of forming smaller family units, and furthered by the financial inclusion policies that promote universal access to the banking system.