“Million-Dollar Addresses for $150K” in Punta del Este, Uruguay – InternationalLiving.com

InternationalLiving.com report reveals how to access premium-neighborhood homes in South America’s most exclusive resort at rock-bottom prices

InternationalLiving.com has uncovered a range of properties in Punta del Este—South America’s most fashionable resort area—with price tags starting below $150,000.

Punta del Este, less than two hours from Uruguay’s capital of Montevideo, has long been the most sought-after resort on the continent.

“An apartment sold here a few years back for $7.2 million,” explained report author David Hammond. “That makes Trump’s new tower, where prices stop at $2.5 million, seem a bargain.”

However, an article in the March issue of International Living magazine revealed how a fully furnished apartment close to Punta del Este’s marina, which comes with WiFi, 24-hour porter, maid service and remote-controlled lighting, is on sale for $128,000.

“This property is right across from a new condominium building with large units that recently sold for over $1 million each,” added Hammond.

In the nearby neighborhood of Aidy Grill, where properties regularly fetch more than $400,000, a 323-square-foot remodeled studio apartment close to the beach with parking, community barbecue area and laminate floors, is available for $82,000.

In Playa Mansa, close to a number of sheltered, picturesque beaches as well as a number of shopping and dining areas, a 538-square-foot, two-bedroom apartment is listed for $140,000. It is in a low-rise building and includes a terrace, barbecue area, parking and is within a few blocks of the beach.

Hammond explained that properties in high-value districts are available at such low prices because Latin American buyers do not view location as the most important factor when considering a property.

He added, “Folks from North America determine a property’s value by three factors: location, location, location. But in Punta del Este’s condo market, a property’s location is less important.

“For locals and other Latin American buyers, how new a unit is, the size and style, and building services generally have a greater weight in value than they do in North America.”

Hammond continued, “This can mean a lower entry price in premium neighborhoods than you would expect.”

The full report on real estate in Uruguay, which appeared in the March edition of International Living magazine, can be read here.

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Further information, as well as interviews with expert authors for radio, TV or print, is available on request.

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 For more than 30 years, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, InternationalLiving.com provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.

To learn more please contact Internationalliving.com Associate Editor, Carol Barron, tel. (772) 678 – 0287, e-mail: CBarron@internationalliving.com

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