If peace, stability, a strong democratic tradition, culture, diversity, natural beauty, a temperate climate free of natural disasters, a low cost of living, and outstanding real estate values are on your checklist, look to Uruguay.
This country rarely makes the news. It quietly goes about its business. Rich in culture and agricultural produce, Uruguay is increasingly being viewed as a safe haven in times of economic uncertainty. The country did recently make the news…if only briefly. It’s now officially Latin America’s fastest-growing economy (see the chart on this page for a review of its GDP growth over the last few years).
The economy is based on agriculture, cattle farming, and mining, as well as the production of hydroelectric energy, paper, and tourism. Uruguay is recognized as a strategic gateway for international companies conducting business in the Latin American region—and these international companies appreciate the value of its political and social stability.
Tourism and second-home ownership here is dominated by Argentines and people from southern Brazil—but there is also a growing North American expat population.
Uruguay is South America’s second-smallest country, where a European feel meets Latin flair. Corruption and poverty levels here are the lowest in Latin America…life expectancy, the highest.
Though small, Uruguay is diverse. Montevideo (the capital) is like an old-world European city. Buildings are well maintained, restaurants are excellent, and the feel is cosmopolitan. The 210-mile stretch of coastline between the Brazilian border and Montevideo is among the finest in South America. White-sand beaches and wildlife preserves dominate.
Property prices for city apartments or beach properties here are amazing: $70,000 buys you a charming apartment in a colonial building in Montevideo’s historic center. Looking for a project or a business opportunity? Fifteen bedrooms, five bathrooms, and more than 4,000 square feet, also located in the historic heart of Montevideo, will cost you only $180,000. (See: www.reynoldspropiedades.com.)
A short drive from Montevideo you’ll find the world-class beach resort of Punta del Este. Punta del Este is east of Montevideo. This is where South America’s rich and beautiful hang out. Think the French Riviera. Property prices here can be high, however.
East of Punta del Este lies the small town of Rocha, which has the finest beaches in Uruguay. Less than 10 minutes from Rocha and right on the Laguna de Rocha, you’ll find Laguna Tranquila. The land at this project slopes gently to the lagoon. A .625-acre lot (27,225 square feet) at this environmentally sensitive project costs $63,000. Plans here include a luxury spa and boutique hotel. (Contact: Carl Westcott by e-mail at: carl@lagunatranquila.com.)
Editor’s Note: Ronan McMahon is the Executive Director of Pathfinder (International Living’s preferred real estate advertising partner), which focuses on opportunity for gains in strategic pockets around the world-before most folks have even heard of them.
