Uruguay consistently receives a high
rating from International Living for its quality of life, its safety, cost
of living, and property values. Uruguay encourages and welcomes foreign
ownership; foreign ownership is awarded the same constitutional guarantees
granted Uruguayan citizens.
Real estate is affordable in Uruguay though rapidly increasing in Punta del
Este and surrounding
communities. Property is nevertheless affordable compared to many resort
towns around the world. In Punta del Este, prices for average single family
homes vary depending on location; for condominium apartment they are
determined by the services provided and frontage to a beach.
An expansive choice of single family homes, condominium apartments,
developed lots, and raw land is available on the market. Whereas beach front homes and luxury
condominiums can command several million dollars, a single family home off
the beach but still in walking distance ranges from
$100,000 to $300,000 in many neighborhoods. Comfortable one-bedroom
condominiums in the heart of Punta can be purchased starting at $70,000.
(The low-end market has increased in value an average of 50% in the last
three years). Just
outside the city undeveloped land can be found for several hundred dollars a
hectare though rapidly increasing due to foreign investment..
The cost of property in the nearby towns of La Barra, Manantiales and José
Ignacio is affected by location and
perception. For instance, José Ignacio, near Punta del Este, is now
considered the trendiest town on the coast. Natural beauty adorns this
quaint village situated on a land spur between two miles-long beaches, and the limited number
of vacation homes account for its premium prices.
Punta del Este fills during the summer, when many owners lease their homes
to seasonal visitors. Short-term summer rentals (traditionally for 2 weeks
at a time) can net the owner enough to
pay taxes and upkeep for a year. The high season starts mid-December and
runs through January, the peak over the holidays. Homes start to rent and
hotels book by September. The best properties, of course, go first.
Stay in a home or condominium at walking distance to the beach in the center
of Punta del Este, or look into the satellite towns: La Barra, Manatiales,
and José Ignacio. Contact us for new and updated listings.
