Law No. 18,795, the "Promoted Housing Law" (Ley de Vivienda Promovida), is a fundamental tool for encouraging private investment in quality housing and easing access to home ownership, especially for middle-income sectors. It aligns public and private interests. In Maldonado it represents a real opportunity to generate employment, improve the urban fabric, boost the local economy and allow more families to access quality housing with legal backing and accessible conditions.
Concrete benefits and clear objectives. The law promotes projects with high architectural, urban-planning and environmental standards, with an inclusive vision. Its objectives are: expanding the housing supply for the middle class; improving the quality of the housing stock; regenerating expanding urban areas; and encouraging formal rental as a pathway to ownership.
Tax advantages for developers and buyers: exemption from VAT on construction and sale; exemption from IRAE (corporate income tax) on construction and sale; exemption from ITP (real estate transfer tax) on the first sale; exemption from the wealth tax (Impuesto al Patrimonio) for construction companies. These benefits reduce costs, improve profitability and allow for more accessible prices, creating a virtuous circle of investment and real access to a first home.
Access to credit for a first home. The law is complemented by the Mortgage Credit Guarantee Fund (Fondo de Garantía de Créditos Hipotecarios), which allows access to loans without large prior savings for the down payment. The National Housing Agency (Agencia Nacional de Vivienda) offers loans for promoted housing with financing of up to 90% of the property's value, terms of up to 25 years, and competitive rates. Many families who currently rent can now access home ownership on accessible, legally backed terms.
Maldonado: development underway. More than fifty active promoted-housing projects are currently underway. Areas such as Altos de la Laguna, La Fortuna and Punta Ballena show steady growth, with modern, accessible proposals adapted to the real needs of Uruguayan families.
Legal certainty from the outset. Every purchase or development is a life project. Notarial guidance plays a key role: comprehensive advice from the initial stage through to the execution of the deed, attending to every legal detail to guarantee security, trust and professional support.
