In this sense, the final report of InfoCasas on the behavior of its platform during that year concludes: “private neighborhoods and developments close to the coast are the proposals with the most growth, aimed at a public interested in a more relaxed lifestyle“. And he adds that a “growth of permanent residence” is “observed” in Canelones. The study of the real estate portal is based on the behavior of 568,000 monthly active users, who made 1,882,539 queries on 767,050 properties.
The growth of private neighborhoods and closed urbanizations “is a phenomenon that is in full expansion,” underlines the analysis. Although this trend has been latent for some years, the covid-19 pandemic intensified the “search for less congested areas, green spaces and a higher level of security they encourage a sector of the public that prefers to get away from the movement of the capital to settle in quieter spaces,” the report explains.
By the way, in September 2022, the director of the Territorial Cabinet of the Municipality of Canelones, Sergio Sheffield, assured that the development of this type of luxury neighborhoods had a substantial growth five years ago and is linked to the Partial Plan for the Path of the Horneroswhich seeks to provide a legal framework for this type of neighborhood and which allowed the multiplication of these initiatives in Canelones, mainly on the Camino de los Horneros.
Camilo dos Santos
Arocena street, commercial area of Carrasco
Sheffield said that the mayor of that department hopes that double the number of settlers only in Camino de los Horneros in a period of two to five years.
At the same time, the InfoCasas report shows a similarity in the cost of the square meter of the properties of Carrasco and that of the private neighborhoods, this value rises to US$ 3,291.
This cost is higher than that of other neighborhoods such as Cordón, La Blanqueada, Tres Cruces and Centro —which are around US$2,418— and Pocitos and Punta Carretas (US$3,139). In any case, the square meter of the area located on the departmental border between Montevideo and Canelones is somewhat less than that of the properties in Punta del Este, whose price is US$3,456.
According to operators in the area, the explosion of private neighborhoods that are located in the orbit of Camino de los Horneros comes, to a large extent, from Carrasco and it emerges from the search for wide spaces and more security. However, the distance to the center of Montevideo continues to be a decisive factor when leaving the classic Carrasco for a private neighborhood in Canelones.
“People who opt for properties located in Carrasco opt for spacious typology, in general, with two or three bedrooms“says InfoCasas data analyst Diego Eizmendi, who also explained that this area of Montevideo shares a target audience with the private neighborhoods to the east. “The main reason why Carrasco residents settle in these neighborhoods is for the (search) of security, this is key; What’s more, when our users search for (properties) in Carrasco, they tend to search —also— with the ‘security’ filter“, Eizmendi points out and adds: “These searches and filters go hand in hand.”
“The profiles that decide to take that step and start their lives in private neighborhoods are people of the upper and upper middle class, who have their own vehicle, necessary to live in these places on the outskirts, far from the center of Montevideo, although many of them they work remotely or do not have the need to travel to the capital,” Eizmendi asserts.
The data expert on the real estate sector also says that “we must demystify that these exclusive neighborhoods are unreachable”. And he gave an example: “If we ‘put’ a characteristic house in Carrasco on Camino de los Horneros it could cost between US$200,000 to US$300,000 less, that is only because the land there is cheaper because it is far away” from the capital. “Lots in the exclusive neighborhoods are not unattainable” in terms of costs compared to those in Carrasco, although the common expenses They are a point against the comparison due to their “extremely high cost, they are around $60,000,” says the real estate operator.
“The sale value of the property is not decisive when choosing to leave Carrasco for these places, but common expenses or continuous dependence on vehicles are,” says Eizmendi by way of summary. At the same time, he explains that, conversely, security, tranquility and the presence of greenery are the strengths of these urban developments to the east of the capital.
Raft & Associates
This is a unit inside Pilar de los Horneros (render)
Carrasco and the neighborhoods “dispute” the same public, but with nuances
“The profile of the clients interested in the houses of the private neighborhoods are, in general, families with one or two children, the grandparents of the family“, indicates Juan Balsa, managing partner of the developer Balsa & Asociados, in exchange with Coffee & Business.
Regarding the origin of these families, the businessman points out that users They come from Pocitos, Malvín and Punta Gorda, as well as Carrascoalthough They also come from abroad: Argentines, Chileans, Peruvians, Canadians and French, in particular.
Balsa expresses that “customers seek security, a better quality of life, fresh air, living with less trafichave a calmer and more orderly routine, that their children can ride bicycles through the streets and be more independent”.
“I think that, indeed, Carrasco and private neighborhoods point to the same segment (of the market),” says the businessmanwho also explains that Carrasco, in recent times, has more movement and that it captures the public who prefers to have more contact with city life, while those who go to private neighborhoods “seek more tranquility and a green environment “.
“People who are looking for a house have those two options: Carrasco and the neighborhoods,” concludes Balsa, referring to the public that points to this type of property.
The developer Balsa y Asociados is developing the exclusive Carlotta neighborhood, one of the last to advertise on Camino de los Horneros.
The pre-sale stage began in September 2022 and will last for three years. The cheapest land in Carlotta has a price between US$165 and US$175 thousand, which are the central ones. There are also lots available at US$250 and US$260 thousand, whose location is to the east of the land and have a pool connected to the lake of the exclusive neighborhood.
Meanwhile, Huertas de Los Horneros, a private neighborhood developed by La Buonora y Asociados, concentrates “several audiences, but there are some that are repeated more frequently: one is that of young families, with children under 5 years of age, or couples who plan to have children in the medium or short term”, they expressed from the company.
“Another is that of the couples whose children have already become independent or are about to do so shortly and couples whose children and grandchildren already live in the area and decide to shrink in structure and make their lives closer to their loved ones also approached,” they added.
Regarding the origin of the owners of this private neighborhood, they assure that “many come from Carrasco, others from Avenidas de Las Américas or Parque de Miramar; while others arrive from Malvin, Pocitos, or Punta Carretas”, they specified. “There are also several foreigners and even Uruguayans who decided to return to the country,” they added, detailing that more than 80 families have already settled in the place.
Better quality of life, more contact with nature and “being able to raise their children in an environment similar to the one they grew up in” are the main factors considered by people who have the possibility of settling in these category complexes. “They are also looking for security, tranquility and, in the case of Huertas, product quality and construction support,” the developer added.
La Buonora & Associates Developments
Camino de los Horneros is in full development
A neighborhood that maintains its stamp
“Carrasco was the quintessential residential neighborhood of Montevideo all its life. That never changed”says, on the other hand, the RE / MAX Focus broker in Montevideo, Martín Díaz.
“Within the percentage of sales of Montevideo, obviously Carrasco occupies a small proportion. They are generally high-end properties and like any high-end product, they are slow, so they do not affect the number of transactions,” adds Díaz.
Compared to gated communities, these “have greater security, but They are a cheaper option than Carrasco at this moment”, due, above all, “to the distance”, he asserts.
In addition, in his view, not everyone is willing to go to a private neighborhood in particular because of the issues of transfers that especially affect those who work in person in Montevideo. “People, if they can avoid this transfer, stay in Carrasco,” defines Díaz.
However, the RE/MAX representative points out that the trend of private neighborhoods will continue to grow in the future. “There are more and more now there are private neighborhoods that bet on a public with a somewhat lower purchasing power (that Carrasco)”.
“There are a lot of new neighborhoods that are much more accessible to a professional middle class, therefore, the trend of growth in these neighborhoods will be more directed to a slightly lower-income audience than the original private neighborhoods,” ends.
