ERA Real Estate announced the signing of a master franchise agreement for Uruguay with developer Kopel Sánchez and Rutland S.A., marking the brand’s continued expansion into South America.
he brand continues its momentum with the affiliation to expand ERA’s South American footprint into Uruguay.
ERA stated that Uruguay has become a “mecca” for real estate development across the entire region thanks to its public policies, stable economy, and tax benefits. According to Uruguay’s National Housing Agency, in 2021, a total of 43,021 home sales were made throughout the country: 33% from Montevideo, 17% from Maldonado and 50% throughout the rest of the country. Prices also increased 5%, bringing them back up to pre-pandemic levels. Additionally, construction permits increased 40% over 2020, a trend that continued into 2022.
ERA Real Estate’s entry into Uruguay is an excellent opportunity to take leadership of a dynamic market with ample avenues for growth and expansion.
The company plans to capitalize on the growing awareness of the brand and its strong value proposition to develop an extended footprint across Uruguay.