Real Estate Buyers Social Distancing as Far Away as Uruguay
As the pandemic's long-feared second wave comes crashing down on us like a mammoth breaker pounding a cracker box coastal village, some real estate shoppers are looking for values far from the densely packed districts that are their customary areas of interest. Uruguay is not exactly a hop, skip and jump from places like Miami or New York City. But it does possess myriad qualities increasingly prized in these fraught times. With many placing more and more emphasis on living in contact with nature, luxury developments encircled by green, wide-open surroundings and untrammelled environs have become more popular in today's real estate market, serving as appealing, secure investments for foreign buyers. Uruguay, long a magnet for Brazilian and Argentinian investors, is increasingly luring Europeans and North Americans for exactly these reasons. Whether it is a beachfront apartment, ocean-side single-family home, a country estate built on a sprawling ranch or an elegant domicile in a private community, investors are finding more space at less expense in Uruguay, a safe place of economic, social and political stability, where foreign real estate investors are not only accepted but welcomed. Recently announced tax incentives provide incentives to invest, many aimed directly at foreign investors. Other fiscal advantages, such as a 77% reduction in the minimum requirement for real estate investment, have helped seal the deal for a good many North Americans.
- - Ranch lots
Uruguay's up-and-coming luxury residential developments include El Secreto, on the wind-damped sunset coast of Jose Ignacio in Maldonado and Las Garzas, a place of pristine beaches, exclusive amenities and spectacular flora and fauna, in Rocha.
- - Natural splendor
These spaces are spread across 128 acres of spectacular land on a UNESCO national biosphere reservation. Included is access to more than 250 meters of exclusive beachfront lapped by warm tropical currents flowing in from Brazil. Also incorporated is an array of high-end amenities, including a beach club on the shore of a lagoon, natural grass tennis court, grill area, fire pit, corrals and swimming pool. "Sustainability and environmental impact are two concepts getting more attention nowadays, generating lots of interest from investors," says Fernanda Prece, commercial director of Las Cárcavas. "Even in these times of adaptation and transformation for many areas, our projections are positive given the current scenario."
Topics: Real Estate, Investment, Uruguay
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