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Maldonado and the (particular) relationship between the supply and demand of its rentals

Maldonado and the (particular) relationship between the supply and demand of its rentals

With summer 2023 drawing ever closer, the temporary rentals in Uruguay they begin to take on more and more relevance.

As reported by two of the most relevant real estate portals in the local market —Mercado Libre and InfoCasas—, as usual, the spas most chosen by tourists to spend part of the summer are those located from Canelones to Rocha.

Searches for temporary rentals have been growing sharply —especially— during the last three months. The rate of increase is close to 40% month to monthindicated the numbers reported by Mercado Libre.

Regarding the offer, “more than half of the almost 50,000 temporary rental announcements published (on that portal) are in Punta del Este and almost 90% of the ads are from Maldonado towns”, they assured from that platform.

In this sense, the manager of the Real Estate section of Mercado Libre for Uruguay and Argentina, Pablo Brener, said: “In Uruguay there is a particular scenario: the greatest amount of supply is concentrated in Maldonado, but slightly less than half of the demand is destined for this department.”

“This means that in Maldonado we see a greater breadth and variety of prices due to a much more dynamic market than that of other departments. Although on average the prices per night in the Maldonado spas are higher, there we can also find some more convenient size-price equations than in Rocha and Canelones”, Brener elaborated.

Asked about this trend that is developing in the market of real estatethe executive argued that this is due to several factors.
First of all, Maldonado is the department outside of Montevideo with the greatest real estate development in the country and, furthermore, investment destination in that category. “That is why there is a much greater supply than the demand for temporary rentals,” he explained.

In addition, “in recent years its permanent population has also grown, so The demand for temporary rentals was seasonally adjusted and that of permanent ones grew”, he added.

east point It is the Uruguayan city where this situation is being recorded the most, with about 70% of the supply of the department but only 33% of the demand. “And the other towns where there is a greater proportion of supply to demand (always comparing to the total department) are all satellites of that resort such as La Barra, Manantiales, San Rafael or Pinares,” added Brenner.

On the other hand, this dynamism that is brewing in the real estate market of Maldonado —and that deepens during the months of the high season— is also reflected in the costs of the properties, which present a wide variety, and that differ, in this sense of what happens in the markets of Canelones and Rocha.

On this point, Mercado Libre verified that he was staying in Maldonado for one night can cost anywhere from US$60 to US$4,600.

Meanwhile, as verified by InfoCasas, this range of costs varies from US$60 to US$2500. Consulted for the average cost according to the number of available properties —that is, the average value—, from the portal they confirmed that this figure is closer to the highest end of the price range and is located at US$ 1,400.

Distribution of the offer by spa

The coordinator of Casas del Este —portal managed by InfoCasas—, Oscar Lanzaro, said that the department of Maldonado takes 64.5% of the total offer of properties available on that platform.

Although the supply-demand relationship is not as forceful as that registered in Mercado Libre, Lazaro explained that the growth of this market produced a gap between the properties that are offered per night compared to those that are demanded.

In any case, the executive stressed that Maldonado continues to be the main department when thinking about temporary rentals during the summer.

On the other hand, Lanzaro argued that, lately, many people are opting for quieter spas, such as those in Canelones, “away from the crowds and young people; looking for peace of mind.”

In general, this season is expected to be “very good in terms of occupancy, and that it reaches around 90%,” the executive concluded.

According to the numbers of Houses in the East that you accessed Coffee and Business, Punta del Este is the jewel in the crown since it represents 37.6% of the total properties offered in that town and it is undoubtedly in the first place.

In second place is for the city of piriapoliswhich brings together 13.6% of the offers in Maldonado.

Far away, in third place, is positioned Whale Pointwhich represents 8.6% of that market.

Attached to that locality, one finds The bar (whose offer is 7.8%), San Francisco (5.6%), springs (4.7%), Beautiful beach (4.3%) and red tip (4.1%).

Below —and in the 2% band— are located green beach (with an offer of 2.3%) and Jose Ignacio (2.2%).

Then they position black tip (1.7%); Buenos Aires Spa (1.3%) and portezuelo (1.2%).

The ranking is closed by the Spa Solis, Bella Vista and Las Floreswith 1% each of the total offer presented by Maldonado in terms of temporary rentals.

In the sum, the mentioned localities gather 98% of the total. The percentage that remains is dispersed by other towns in that department, they pointed out from Casas del Este.

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