I found this article from Sept 2015
http://www.globalpropertyguide.com/Latin-America/Uruguay/Price-History
I have been unsuccessful in finding anything more recent on trends in housing prices in Uruguay.
Do you have any anecdotal info on housing price trends in your area that you'd be willing to share?
If housing prices stay the same with time, and inflation is 11% and the peso is depreciating, the result is that the value of the investment (house) is decreasing in real terms.
If house prices are rising in pace wth inflation and the value of the peso, that means that the value of the investment (as a Uruguayan) stays the same.
Since we are going house shopping in August, any information you share will be appreciated.