Excellent Uruguay Real Estate and Property

You will be able to find and purchase real estate in Uruguay that is both enchanting and economical.

Learn more about real estate in Uruguay in IL Postcards.

Whether you're exploring the Uruguay real estate market for a home you can move into full-time…a vacation retreat you can visit a few weeks or months a year…a beachfront lot you hope to resell at a profit…or your own slice of sand where you'll build your dream home…you can find it in Uruguay. And it's perfectly legal to buy.

In 2005 there were more than 650,000 square meters approved for property development in Uruguay. It is estimated that half of these new properties were purchased by either European or American buyers who discovered the wonders of this country over the last few years and wished to take advantage of the low prices, numerous facilities, and the beautiful coastline with stunning beaches.

Due to the stability factors and overall economic situation of the country, the last few years have seen a major real estate boom in Uruguay, mainly concentrated in the cities of Montevideo and Punta del Este.

Uruguay's Real Estate "Hotspots"

Real Estate in Montevideo
If big city living is for you, then Montevideo will be your favorite place to live in Uruguay. The capital of Uruguay is situated on the northern coast of the River Plate. It is a modern and open city displaying its colonial past in a peaceful and tranquil setting. With a clear sense of identity, informed by customs, traditions, and a strong sense of community, this capital ranks as the second-safest large city in South America.

With a temperate climate all year round, this picturesque and progressive city offers visitors a broad range of alternatives: outstanding landscapes…a natural port of deep water…green spaces.

Montevideo's neighborhoods
We believe the Old Town is the area of Montevideo with the best potential for capital appreciation. The majority of the buildings here are colonial or French style, with very few modern buildings. The government is working hard to revitalize this area, since it has tended to become a business area, with little nightlife. The periphery of the Old Town had been densely populated in the past, functioning as a form of "red light" district.

Property values have increased in recent years, as some streets have been pedestrianized to accommodate new businesses. The additional influence of creative professionals, who are refurbishing old buildings in which to work and live, has brought renewed vitality to the area. The main areas, close to Plaza Zabala and Plaza Matriz, as well as the pedestrianized streets, such as Sarandi, are already thriving. Prices range between $50 and $80 per square foot, although some may go up to $100 per square foot if the property has been totally refurbished.

The least expensive neighborhoods are Ciudad Vieja and Centro. There are some more upscale residential areas as well, with higher prices and a generally more refined, exclusive feel. These include Punta Gorda, Carrasco and Pocitos, to name a few. Prices here run two to three times what they do in Centro. They are all attractive, tree-lined and have their own mini "downtown" areas with restaurants and other diversions. Some have excellent water views.

The entry point for apartments is under $15,000 and for houses it's under $30,000 but we would recommend spending at least $40,000 on an apartment and $65,000 on a house to ensure you get a property you will enjoy living in.

Real Estate in Punta del Este
The beaches of the Uruguayan coast attract thousands of tourists each year and Punta del Este, the most prestigious resort of South America, has become the preferred destination for nature lovers who value first-rate infrastructure. Located in the Maldonado region and characterized by a mild climate, Punta del Este features bays, cliffs, dunes, long stretches of white-sand beaches, as well as lagoons, rivers, forests, and woodland.

Known as the Saint Tropez of South America for its unspoiled beaches and exceptional architecture, Punta del Este will amaze you with its variety of sights, luxury hotels, international gastronomy, art galleries, and vibrant nightlife.

Attracted by the natural beauty and the European way of life, many expats have moved to Uruguay and chosen to settle here. Gorlero's palm-tree-lined 11 blocks features a wide range of banks, boutiques, movie theaters, casinos, music stores, exchange bureaus, and restaurants.

Punta del Este is essentially a cluster of different neighborhoods, each with its own unique character. A few areas to explore include Punta Ballena, Solana, Pinares, Paradas, San Rafael, Rincón del Indio, La Barra, Montoya, Manantiales, and José Ignacio.

The real estate market in Punta del Este
Punta del Este is considered the most upscale sea resort in Latin America. Many North Americans and Europeans are now discovering this exceptional market with its beachfront real estate values. In fact, many relatively young Italian, French, and German retirees have been aware of the market for some 10 years now, and have acquired summer homes here.

Historically, the ownership make-up of Punta del Este used to be 80% Argentinean, with the remainder shared among wealthy Uruguayans and other Latin Americans. This has shifted in the last few years as more Europeans and Americans invest in the area. While the Northern Hemisphere has increased its real estate prices to all-time record levels, it is still possible to find excellent properties here at substantially lower prices.

Punta del Este can be considered, in a sense, Uruguay's equivalent of Beverly Hills, with its beautiful houses, luxury apartments, and lovingly landscaped gardens. A high level of security sets Punta del Este apart from most other South American destinations. Walking the streets here poses no problems, day or night. As Athina Onasis put it, "The only place in the world that I can walk the street without a body guard is Punta del Este."

Real Estate Pricing in Punta del Este
As international interest increases here, there are currently 45 new buildings going up in Punta del Este and the price per square meter has gone from $1,000 to over $2,000. But it is still possible to find some prime properties right in the center of all the action for under $100,000 and you can buy a respectable single family home just minutes from town for not much more.

You'll find that real estate prices drop quickly as you leave the center of Punta del Este and head west either toward Montevideo or east toward Brazil…but you don't have to go very far, just a mile or so out.

Uruguay has a lifestyle and a region for everyone, depending on what you're looking for in the way of a new life abroad. Whether you want to live downtown in a world capital, in the heart of an old colonial city, or on a sprawling ranch in the heartlands, you can be sure that Uruguay has a place for you.

Learn more about real estate in Uruguay in IL Postcards.

Interested in real estate in a different destination? Then check out these similar pages:

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