A small clarification regarding "stupidly high" prices; In the California, when a property has been on the market a few months it is generally considered a "stale property", and the price is usually adjusted. Here in Piriapolis a property can sit for many years (while falling apart) with no offers and no adjustment of price.

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From the few conversations I have had with friends and our own experience, prices here are fairly firm unless the owner needs the money right now for some reason.
Most have paid full price and sellers showed little interest in changing the price they had listed.

Prices have risen a lot here in the last few years For instance, one we looked in Las Flores - not far from Piriapolis - listed in 2011 for $147,000 US and is now listed for $220,000 US.

One realtor we used back then had probably 8 to 10 houses in that general area under $100,000 US now the cheapest shown is $125,000 US.

You will find the prices are similar in other popular areas. Perhaps many of the locals may not be able to afford them but there are plenty of foreigners who can.

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We just closed on our house in Punta Colorada on Nov 9. Our house-hunting experience (Las Flores to Punta Ballena) was that most vendors are in no hurry to sell because they are parking their 'foreign' money in Uruguay where it is relatively safe.

Some realtors mentioned that some European shoppers insulted them with low-ball offers (50%-75% of asking). A couple of realtors suggested that an offer of 10% less than asking was reasonable. In all, we talked to 7 realtors who had listings in the area were were interested in.

Because of fairly recent anti-money laundering rules in Uruguay and around the world after the Panama papers were released, we had to provide to the realtor, our escribano and the bank what the source of our money was. We see this as evidence of the trend for foreign money seeking safe refuge in countries where the law regarding personal property is respected. The same is happening in Vancouver and Toronto in Canada. Most Canadians can't afford a house or condo there even though many sit empty.

I agree with Morell about rising prices. From January to August, the asking price of the house we bought went up 5% with one realtor and 10% with another (same house, 2 listings). That was in the off season! The best negotiating that we could do was to get the vendor to honour the January price. The vendor was Argentine, by the way and the house had not been lived in for a year and a half.

We were also able to negotiate where we paid half the purchase price at closing and the remainder within a year. All of the associated costs (real estate, escribano, transfer costs, etc.) were paid at closing. This was a big difference from Canada where you can mortgage 80% of the cost of a home for 25years at about 2.5% interest.

I have no idea (well maybe some) how the average Uruguayan can afford to live there.

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Worth amplifying the point that a number of expats who agree to buy at the listed price, have found that the seller increases the price. In my opinion, one shouldn't go along with that but I also know how "in love" you may be with the place.

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I forgot to mention that few houses in our search area were suitable for year-round occupation.

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You might want to check this out, it will answer many of your questions: http://www.focuspropertiesuruguay.com/infos/The_Punta_del_Este_real_estate_market_some_things_you_may_not_know/info.html

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Once again, the members of this forum come through with fabulous, helpful information. Thank you to all members for taking the time to provide this. This will help us in our ongoing quest.
Focus: Though we are not interested in Punte de Estse, your web page is full of interesting information.
The lack of real estate data creates a "Wild West" environment in which to function. As I posted in an older post, the realtors here do release stats to the press when the market is hot and moving. This lack of current data must present challenges for agents as well as buyers, as I have seen how agents in the US rely on data to do business.
Our challenge at this moment is to find another house for monthly rental (at least a month or two) for us and our 2 dogs, as our Piriapolis rental ends in less than a month. It took a week of cleaning to make it homey and we and we will miss this house. We will be going inland (Minas?) due to cost, but know not where to go. If anyone knows of a house w/ kitchen and air conditioning in a secure area, please send me a private message.
Thanks again

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Hello,
We used Focus to find a chacra (campo) for us and we are loving Minas!! I haven't seen that many houses with A/C but I am sure there are some. As far as the neighborhoods, they all seems very pleasant but haven't been to them all. We met a lady that has cabanas for rent off of Ruta 12, her name is AnneMarie (she heard my sister and I talking and started a conversation with us, very nice lady).....I could only find her FB page and maybe she can help with the rental for a month or two. I hope this helps!! :) https://www.facebook.com/annemarie.fleischmann/about (Auf dem Campo) Or how about a Hostel in Minas and I believe her name is Martha (met her on Facebook)....
http://www.martitabackpackerhostel.com/
I will be happy to help, if I can and Focus helped us along the way!! Thanks and good luck :)

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You can always buy and install splits which are readily available.

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I think Martha's handle on this board is mjferriesmcgrew if you want to send her a PM.

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Its usually people ask much money their property and final price will be much lower than asking price. So must stady newspapers the price level in the area where you want to buy and make offer what you think is real value. Its normaly about 10% les the asking price. Try also buy direct from the owner than agency. Esribana is not so much to trust. Its usually escribana take more tax than need it just profit her self. There is transaction tax 2% to byer and 2% seller total 4%:Its not value your deal its and other value wich you have to pay 2%. Its very difficult since if you dont have any experince of bying property here. Escribana may has only interest profit us much as possible. You may ask some one before you pay anything to your escribana to be sure the payment is correct. The problem here is you cant trust nobody, and you are not from here. Good lycky

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