In October of last year I was traveling in Montevideo (Uruguay) and I was surprised by the boom that exists in real estate in that city, full of new construction. Real estate in major cities in Uruguay has been having a very good performance in the last time and, as we mentioned them in the news on Monday demand for properties in Uruguay by the Argentines, the conflict between the Argentine Government and the field is growing, it is generating positive effects for the Uruguayan real estate sector. But the real estate sector in Uruguay is not the only boom that I could appreciate my trip to Uruguay, since from the air could see the large tracts of cultivated land (which later would discover that the vast majority were soy fields). The current situation shows a Uruguayan economy that is growing strongly and that for this year, has a growth of 6.89% projected. The Uruguayan economy grows both by internal factors (the great dynamism of domestic demand), as well as external factors. In this sense, the international context it is generating to Uruguay both opportunities as threats.
The strong growth of the price of agricultural commodities, together with what happens in Argentina with the issue of withholding agricultural exports, have resulted in a strong expansion of the sector in Uruguay. The soybean boom not only live in Argentina and Brazil in Uruguay is also achieved. As we mentioned in the news on Monday in the biggest sale of Uruguayan soybeans to China, Uruguay made the largest shipment in the history of the port of Montevideo, exporting 38,000 tons of soybean to China according to the Uruguayan newspaper El Pais published last Monday. This event has additional implications because it opens to Uruguay the possibility of access to new markets and thus continue its expansion. But in the case of soybeans, a note published in the Argentine newspaper Clarin, warned about the following: in recent times soy is part of the Uruguayan agenda.