Excellent Real Estate And Property In Uruguay

Are you looking for an international real estate opportunity in a country where it’s safe to invest; where you, as a non-citizen, can hold full title to a property; and where you can choose from a variety of interesting property types and price ranges?

If your answer is yes, you need to know about real estate in Uruguay.

Uruguay is a Safe Place to Invest

Why Can You Get Such A Good Deal On Property In Uruguay?

Uruguay is known for its stability. It’s one of the main reasons many Brazilians, Argentines, and investors from around the world buy real estate in Uruguay.

Most real estate in Uruguay is bought and sold in U.S. dollars. This eliminates the cost of converting purchase and sale proceeds from one currency to another. It also removes the risk of changes between currency values during a transaction.

In Uruguay, non-citizens can own full title to real estate without jumping through hoops

In Uruguay, you, as a foreign individual, can buy and hold real estate in your own name. You don’t need a local partner, a trust, or a corporation. You don’t even need to become a legal resident or get a Uruguayan tax identification number. And you can own any type of real estate, the same as a Uruguayan citizen. That includes property near a coast and agricultural land.

Uruguay Offers a Variety of Interesting Properties

Real estate opportunities in Uruguay include:

  • City apartments
  • Beach resort apartments
  • Single-family homes in a beach resort
  • Single-family homes in small coastal towns
  • Beach lots
  • Executive homes in private communities
  • Country estates (called chacras)
  • And farmland.

The most popular real estate investment among foreign buyers is apartments in the capital, Montevideo. The second most popular is apartments and single-family homes in the beach resort town of Punta del Este.

Montevideo

©iStock/jwanma

Montevideo is Uruguay’s commercial and cultural center with a population of 1.4 million. It’s a city with picturesque plazas, sycamore-lined streets, and sand beaches. A wide walkway called the rambla runs the full length of the city’s coastline. In Montevideo, you’ll find plenty in the way of dining and entertainment. Cultural events include Carnival parades, rodeos, and opera.

The most popular part of Montevideo for part-time and full-time living is the Pocitos Area. It’s where you find a long sand beach, an 18-hole golf course, two shopping malls, large parks, and a lighthouse.

To give you an idea of what your money can buy in Pocitos, here’s an example:

  • A one-bedroom 430-square-foot apartment is for sale. It’s on the eighth floor of a newer building just three-and-a-half blocks from Pocitos Beach. Features include tile and laminate floors, a kitchenette with a granite countertop, and a balcony off the bedroom. Building amenities include a laundry room and barbecue area. Services include a part-time porter. Price: $147,000 (includes a parking place). Monthly HOA fees: $82.

An area of Montevideo popular with many cost-conscious investors is Ciudad Vieja (Old City). It’s an eight by 12 block neighborhood where Montevideo was founded in 1730. It’s a community filled with interesting period architecture, plazas, and museums.

Prices for apartments in Ciudad Vieja tend to cost less than in the Pocitos Area. Here’s a sample of the types of properties you can find:

  • A 516-square-foot apartment close to Ciudad Vieja’s Plaza Zabala. It’s in a historic building restored in 2009. On the main level, you find wood flooring, a wood stove, and a balcony. Upstairs is a sleeping loft and the bathroom. Price: $100,000. Monthly HOA fees: $60.

Punta del Este

©iStock/zoroasto

 

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