Since everyone is in agreement that Punta del Este is not Uruguay, we can safely state that Maldonado is Uruguay's most prosperous town.
A news article this week confirmed what I had always said: Maldonado is the largest working-class to middle-class transformation hub in the country. It just bubbles with newly acquired prosperity, and according to El Pais, it is in the midst of a commercial property boom. Yes, you've heard right, there is a commercial real-estate boom, which has brought prices per square meter to match "the most expensive commercial square meter in Montevideo" as my accountant incredulously noted, at US$25 per m2, in the World Trade Center office complex.
Of course there is much more expensive commercial property in Punta del Este, but if we're talking Uruguay, downtown Maldonado is as expensive as Montevideo's commercial property jewel, the WTC.
This is no surprise to us. We tried to purchase land in an out of the way, dangerous neighborhood in Maldonado a couple of years ago and found it to be more expensive than in downtown La Barra. We tried to rent warehouse space and found it to be only 50% of the cost of some prime location commercial space in Punta del Este. So there you have it.
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