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condominiums: a new real estate development.

Units cost between U $ S 3,000 and U $ S 4,000 per square meter.

The emergence of condo hotels promises to change the current mechanism of property development. These hotels are built with a capital of many investors is the building and rooms, but in ten years can be sold as condominiums.

housing legislation of the current administration enabled the construction of hoteles condominios, una modalidad de construcción habitacional que funciona como un hotel, pero bajo el régimen de propiedad horizontal.

A diferencia de los hoteles tradicionales, cada habitación es un padrón individual con una renta estimada del 10%, libre de gastos, y esa moda- lidad jurídica permitiría a sus propietarios vender la unidad al cabo de diez años.

“En Punta del Este se habilitó a levantar un emprendimiento de unas 250 habitaciones, ubicado sobre Playa Brava, a la altura de Los Dedos, que cada unidad costará entre U$S 3.000 y U$S 4.000 el metro cuadrado”, explicó a Ultimas Noticias el experto inmobiliario Julio Villamide.

Agregó que Montevideo are rising in two ventures with similar characteristics.

"The condo hotel September 21 and Luis de la Torre was built by an Argentine group that managed to sell in the well and the building will have 250 rooms," he said.

added that the same investment group from Argentina has a similar venture in another folder on Bulevar Artigas.

"The other ongoing project is to Tabaré and Ellauri Blanca, which will feature 96 rooms in similar conditions," he said.

In all cases, these unique hotels will be four stars.

The expert explained that the legislation with benefits that covers this type of construction requires the company that owned a hotel that the status of at least 10 years to get through the rooms to the horizontal property regime, keeping the tax exemptions granted to the hotel project. Villamide

explained that this diversifying risks constructive form of entrepreneurship, as it expands the investor base involved in the project, and can extend to hotels in the capital.

"In Buenos Aires the proportion is 30 hotel rooms per 100 inhabitants, while in Montevideo rooms it is 0.3 per 100 inhabitants," he added. He noted

the Montevideo hotel offer is low, and this type of investment will bring many new investors.