IL Postcard

Your Own Waterfront Home in Uruguay for $32,000

Date: 04/06/2008

Monday, April 7, 2008
Costa de Oro, Uruguay

Read more about Uruguay in International Living Postcards—your daily escape

The international property market has forgotten this section of Uruguayan coastline. The old seashore resorts situated between Montevideo and Piriápolis seems to have been frozen in time, as the crowds moved up the coast to the more chic resorts of Punta del Este and José Ignacio.

And the prices in these old resorts seem frozen in time as well…

This stretch of Uruguayan coast is known as the Costa de Oro (Gold Coast), originally taking its name from the golden sand beaches. The Costa de Oro extends about 45 miles from Montevideo toward Punta del Este, and encompasses some 30 seashore destinations. These balnearios—as they’re called in Uruguay—vary in character from small, undeveloped beaches to pleasant towns suitable for year-round living.

What looks like the ocean on the Costa de Oro is actually the famous Rio de la Plata. This is the area where the 128-mile-wide river joins the South Atlantic; it looks just like the ocean, except for the relatively calm waters.

I consider the town of Atlántida to be the unofficial centerpiece of the Costa de Oro. It is located some 25 miles from downtown Montevideo, and about 20 minutes from the airport, with good, modern public transport available to both. In the winter, Atlántida is a cozy, sleepy town with about 3,500 permanent residents. But in the summer, it transforms into a bustling and cheerful seaside resort, as people enjoy the sandy beaches, shady waterfront park, and warm waters. The sidewalk cafés are busy as the air fills with smoke from the wood barbecues preparing thick steaks, chorizo, and grilled vegetables.

The streets of Atlántida are quiet, and shaded by the large sycamores that are typical to Uruguayan towns. Due to the shape of the coastline here, most Atlántida houses that are not on the water are within a few blocks of it. Homes in town are generally large and stately, built by the wealthy of Montevideo from a bygone era.

As with most of the Uruguayan coast, the majority of waterfront homes on the Costa de Oro are not right on the water, but rather across the beachfront road—a practice implemented to preserve the beaches and dunes for everyone.

Finding beautiful beachfront towns in Uruguay is no surprise. But the prices of properties on the Costa de Oro certainly are.

A pleasant two-story duplex on the water with two bedrooms and one bath has an asking price of just $32,000. The property is offered by Bosca Inmobiliaria, at +598 (37) 66692.

Another good buy was a two-story, two-bedroom brick condo, also on the water. It’s part of a small row of two-story condos, with most of the living space downstairs, and the master bedroom (with an expansive view) upstairs. It has a fireplace, double-pane windows, and natural wood trim. It’s a good value at a cash-only-no-realtor asking price of $45,000. The owner speaks a bit of halting English (and fluent Spanish). You can reach her on her cell phone at +598 (94) 293 692.

My favorite property costs a bit more, but I felt it was the best value. The house is located in Atlántida, within walking distance of everything in town. It’s an antique three-story, 4,100-square-foot home with a great view of the water, beach, and waterfront park. The asking price is just $140,000. Call the owner directly at +598 (94) 434 417.

While the Costa de Oro may have been “forgotten” by the international market, it’s alive and well among Uruguayans. They treasure this oasis for its festive seashore ambiance, wooded tranquility, and proximity to Montevideo. Those who buy here are happy to trade the glamour of Punta del Este for the property prices on Costa de Oro.

Lee Harrison
Roving Latin America Editor, International Living

P.S. Want to know more about Uruguay? I’ve got several Uruguay presentations scheduled for the Ultimate Event, which is coming up in Cancún, Mexico, May 28–31.

The evening before the event begins, we normally hold an optional dinner (which means you pay) so everyone can get to know one another. If you sign up today for the Ultimate Event by calling 1-866-381-8446 and say “dinner with Lee,” you’re welcome to join me for dinner at my table…and I’ll pay. But hurry, as the table seats only 10, and three places have already been filled. Bring your questions about Uruguay, Ecuador, or life in Latin America, and I’ll look forward to seeing you.

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