IL Postcard

Prices are Going Up in this Corner of Uruguay

Date: 04/03/2009 Author: Ronan McMahon

If peace, stability, a strong democratic tradition, culture, diversity, natural beauty, a temperate climate free of natural disasters, a low cost of living, and outstanding real estate values are on your checklist, look to Uruguay.

This country rarely makes the news. It quietly goes about its business. Rich in culture and agricultural produce, Uruguay is increasingly being viewed as a safe haven in times of economic uncertainty. The country did recently make the news...if only briefly. It’s now officially Latin America’s fastest-growing economy.

The economy is based on agriculture, cattle farming, and mining, as well as the production of hydroelectric energy, paper, and tourism. Uruguay is recognized as a strategic gateway for international companies conducting business in the Latin American region--and these international companies appreciate the value of its political and social stability.

Tourism and second-home ownership here is dominated by Argentines and people from southern Brazil--but there is also a growing North American expat population.

Uruguay is South America’s second-smallest country, where a European feel meets Latin flair. Corruption and poverty levels here are the lowest in Latin America…life expectancy, the highest.

Though small, Uruguay is diverse. Montevideo (the capital) is like an Old-World European city. Buildings are well maintained, restaurants are excellent, and the feel is cosmopolitan. The 210-mile stretch of coastline between the Brazilian border and Montevideo is among the finest in South America. White-sand beaches and wildlife preserves dominate.

Property prices for city apartments or beach properties here are amazing: $70,000 buys you a charming apartment in a colonial building in Montevideo’s historic center. Looking for a project or a business opportunity? Fifteen bedrooms, five bathrooms, and more than 4,000 square feet, also located in the historic heart of Montevideo, will cost you only $180,000.

A short drive from Montevideo you’ll find the world-class beach resorts of Punta del Este and Piriapolis. Punta del Este is east of Montevideo. This is where South America’s rich and beautiful hang out. Think the French Riviera. Property prices here can be high, however.

You’ll find better deals outside of Punta del Este, in the town of Piriapolis--about 20 minutes west.

Find out more about these deals (including quarter-acre lots for $39,500 that are set to increase to $49,000 on May 1) in the April issue of International Living Magazine.

For four more days, IL's marketing director, Jackie Flynn, is offering the best deal I've seen for the International Living Magazine--you can try a subscription for just one dollar. You'll never pay a lower amount to read the articles I reserve for magazine subscribers…because when you try the IL Magazine for $1 with this link, not only do you get instant access to my full report on Uruguay…and every other April article mentioned below…but you also get instant access to every article in every issue for the past 100 months in the members-only archive.

But remember, Jackie is taking this $1 offer off the table on Tuesday--you only have four more days to try the IL Magazine for a buck.

Ronan McMahon
Executive Director, Pathfinder Ltd.

Here's what else you can read in the April issue of the IL Magazine (subscribe now):

The best investment right now in China

Run your own booming B&B business in Mexico, Costa Rica, or Ecuador

Midnight madness sale on real estate in Chile

Cuba--how profitable will it be for Americans?

The ultimate guide on where to live in coastal Ecuador

How to get half price on your international flights

Live large on a small budget in English-speaking Kuala Lumpur

Speak Spanish in one month

The 300-year-old Italian castle in Tuscany you can rent for $46 a night

The best and worst climates in the world

House swapping--the latest trend to save money when you travel

Play golf for free

Discover the ancient gems of Jordan