Punta del Este experiences a brief peak season, from after Christmas to mid-January when well –to-do Uruguayans, Argentineans and Brazilians take their summer vacations. The idyllic and sophisticated beach town also attracts many Europeans, and has been called both the Monaco and the Hamptons of South America. This is jet-set season and prices rise accordingly. Even hostels raise their prices. During the rest of the year Punta del Este is another quiet, residential beach town, though people still come to Punta del Este to enjoy the beach and nice weather from November through March. Many of the rich and famous own second homes here and come on weekends regardless of the season.