As this hits your inbox, I’ll have left Uruguay behind and be flying back to Europe.
I’m still buzzing with excitement at what I saw on my scouting trip here. Eight years have passed since my last visit, and the transformation is striking.
I was particularly charmed by La Barra and Manantiales, two beach towns along the coast from the glamorous resort city of Punta del Este. Places with great surf, beaches, and restaurants…
The lifestyle is incredible.
But beyond that, I was there to explore where the next big real estate opportunities might lie…
A Few Blocks From the Waterfront
Last week, I explained Uruguay’s appeal.
This small country, wedged between Argentina and Brazil on South America’s Atlantic coast, is quiet, stable, and well run. The kind of place that rarely makes headlines.
And on its coast sits Punta del Este.
For decades, Punta has been the summer playground of wealthy Argentines and Brazilians. Some call it the St. Tropez of South America. Every January and February—high summer down here—the town fills up. Then the crowds leave.
That’s changing.
Punta del Este is transforming from a seasonal beach town into a year-round luxury destination. Families are moving here full time. Schools are expanding to keep up. The year-round population has roughly doubled in just over a decade.
The most sought-after coastal stretch in Uruguay begins here in Punta and goes east to the towns of La Barra and José Ignacio.
This is what I call the Punta del Este Corridor.
There are multimillion-dollar condos on the waterfront. But what interests me most is what’s happening a few blocks back…
Is it possible to buy in these luxury neighborhoods, a short stroll from the beach and those expensive condos, for a fraction of the price?
That’s one of the ideas I was exploring on this trip, as I searched for potential opportunities to bring to my Real Estate Trend Alert (RETA) group.
I had another idea too. I wanted to follow the “Path of Progress” east along the coast to two beach towns called La Paloma and La Pedrera.
What I found surprised me...
A Beach Home I Could See Myself Owning
A Path of Progress is anything that makes a place easier to get to or more desirable, like a new road or bridge, or a 5-star resort where previously there were only cheap accommodations.
For years, I’ve been tracking a Path of Progress along this coastline.
It pushed out of Punta del Este to La Barra and José Ignacio. As those towns have become busier, wealthy buyers have been looking farther east into Rocha.
This is a region of long golden beaches, rolling dunes, and pristine lagoons.
La Paloma is a resort town popular with families and surfers. Farther along, La Pedrera is a smaller seaside village with a bohemian feel and bars and craft stores lining its main street.
You can own right on the beach here at prices you wouldn’t believe. Rent one of these homes out for just eight weeks of the summer and you can earn a respectable yield…and have a beach house of your own for the rest of the year.
But the big play here might just be beachfront land. Beachfront real estate on a coastline the Path of Progress is already moving toward.
And I can see myself owning a home here…
Putting boots on the ground is also how I found my historic villa in northern Portugal. That was a lifestyle purchase—and it’s also turned out to be a great investment.
Uruguay reminds me of Portugal a decade ago: safe, stable, and welcoming to foreigners, with a beautiful Atlantic coastline, rolling countryside, and bohemian beach towns.
I believe the world will discover Uruguay, as it did Portugal. The opportunity now is to find where we can buy ahead of growing demand.
I’m still processing everything I saw and the conversations I had. But I left Uruguay feeling bullish.
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