What do I need to know when buying property in Punta del Este?

"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to understand the legal requirements for purchasing property in Uruguay, including the need for a local lawyer to assist with the process. 3. It is important to understand the local tax laws and regulations, as well as any restrictions on foreign ownership of property. 4. It is important to understand the local infrastructure and amenities, such as access to public transportation, schools, and healthcare. 5. It is important to understand the local climate and weather patterns, as well as any potential natural disasters that could affect the property. 6. It is important to understand the local culture and customs, as well as any potential language barriers. 7. It is important to understand the local banking system and any restrictions on foreign currency transactions. 8. It is important to understand the local rental market and any potential rental income that could be generated from the property," remarked another expat who made the move to Punta del Este, Uruguay.

What do I need to know when buying property in Punta del Este?