Argentina vs. Uruguay

The best of both worlds: Buenos Aires for working; Punta del Este for playing...

Let's start with the basics: Argentina and Uruguay are in the southern part of South America, an eight- to 10-hour direct flight from the U.S. (depending where you're flying from, the time difference will be one to four hours). The people of both countries are friendly and welcoming to foreigners (including Americans), the official language of both countries is Spanish, and both Argentina and Uruguay are an excellent value compared with the U.S. and most other European and Latin American countries.

But which country is better? (By way of full disclosure, I should point out that I am Argentine!)

A good leveler is to compare Buenos Aires, Argentina, with Montevideo, Uruguay, and Punta del Este (Uruguay's prime beach resort) with the Argentine Atlantic coast.

Buenos Aires (often called the Paris of South America) is a cosmopolitan city, with a sophisticated and rich cultural life, including theaters, world class opera performances, concerts, restaurants, art galleries, and cafés on almost every block. It's a vibrant city, full of life (yes, that means it gets a bit noisy), and you'll find something going on 24 hours a day, from the old colonial areas such as San Telmo or Barracas with their antique fairs, to the trés chic French-style Recoleta. The only developed coastal area in Buenos Aires is Puerto Madero, on the River Plate in the old docks, close to downtown--plenty of canals and green areas, but no beaches.

Montevideo is one-tenth the size of Buenos Aires. In general, Uruguayans are quieter than Argentines. This lends a relaxing air to Montevideo, and the city enjoys a slower pace of life. You'll find fewer restaurants and less cultural activity here than in Buenos Aires, although both are available. Montevideo is on the ocean (although technically it sits on a river, you can't see the far bank, and a few kilometers farther north, it officially turns into the Atlantic Ocean). The coastal area in Montevideo is well developed, and the many beaches are busy during the summer. Because of the coastal length of Montevideo, you'll find lots of ocean view property.

Real estate in Buenos Aires costs about the same as in Montevideo, except in the Old Towns. Property to buy in popular San Telmo, in the heart of Buenos Aires, costs from $75 to $110 per square foot; Montevideo's Old Town is starting to be "rediscovered." Some areas are still a little run down, but the real estate prices--from $50 to $70 per square foot--reflect this.

The dazzling resort of Punta del Este has been a playground of wealthy Europeans, Argentines, and Brazilians since the 1940s. With its world-class beaches, casinos, high-rise hotels and perhaps the highest concentration of fine restaurants in the country, Punta del Este is, for some, hard to resist.

The Argentine Atlantic coast has a high population density, and its beaches are nothing to write home about.

For the best of both worlds, I recommend living and working in Buenos Aires, and resting and playing in Punta.

Maria Reynolds
Reynolds Propiedades, Argentina

P.S. In two weeks, I'll lead real estate and relocation tours to Uruguay (March 7-9) and Argentina (March 13-15). We still have a few places left--e-mail me for details: info@realestate.com.ar.