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Apartments in Punta del Este
When thinking about investing in a property in Uruguay, note that the supply of apartments Punta del Este is widening as many investors continue to choose to build in this beautiful city.
Choose Uruguay as new home
Many people decide to move to Uruguay for its many advantages, and improve their quality of life in a country that stands increasingly be safe, economically stable and surrounded by natural beauty.
Moving house apartment
Uruguay also many residents choose, as a matter of not needing much space to move house and take advantage of the variety of apartments in Punta del Este.
Choose Punta del Este. Are you looking for an international real estate opportunity in a country where it’s safe to invest; where you, as a non-citizen, can hold full title to a property; and where you can choose from a variety of interesting property types and price ranges?. If your answer is yes, you need to know about real estate in Uruguay.
Punta del Este is the tourist destination to visit Uruguay. For many years she became popular as a holiday resort and real estate infrastructure has grown exponentially and continues to set trends as a city in Latin America.
Punta del Este is a summer beach resort. While it’s most popular with Argentine and Brazilian vacationers, it also attracts well-connected North Americans and Europeans.
In the 1950s and 60s, visitors to Punta del Este included Frank Sinatra’s Rat Pack and Brigitte Bardot. These days, summer guests include Ralph Lauren, Tommy Hilfiger, and Shakira.
But what may be most unique about Punta del Este is this. While it attracts jet setters it’s not exclusive. What do I mean by that? Here’s an example. It’s customary to go to the end of the Peninsula, by the marina, on Sunday evenings to watch the sunset.
Some watch from the flybridge of a yacht or a patio table of a high-end restaurant. But just yards away, others, with smaller budgets, watch the sunset, too. They watch from blankets on the grass, from folding chairs in the sand, or from where they sit along the seawall. All enjoy the same sunset. All sense they are somewhere special.
The real estate market seems to reflect the social scene. You have plenty in the way of multi-million dollar apartments. But you also find more affordable properties in the same desirable neighborhoods. Places a little smaller, a little older, or a little further from the beach.
This place is considered the most upscale beach resort in Latin America. Many North Americans and Europeans are now discovering this exceptional market with its beachfront and ocean-view real estate values. In fact, many relatively young Italian, French, and German retirees have been aware of the market for some 10 years now, and have acquired summer homes here.
Historically, the ownership makeup of Punta del Este used to be 80% Argentine, with the remainder shared among wealthy Uruguayans and other Latin Americans. This has shifted in the last few years, as more Europeans and Americans invest in the area. It is also interesting to note that Mexican, Chilean, and Central American tourists are also discovering Punta and investing here. What’s more, wealthy Brazilians have been investing here steadily and now dominate several neighborhoods.
As international interest increases here, as many as 30 new property developments have recently been constructed to keep up with demand. For many years, price per square foot averaged at about $91 per square foot. While that price applies to standard constructions, newer high-end apartment constructions can be in the range of $186 per square foot and up. Houses are sold at a much lower cost per square foot.
Punta del Este is essentially a cluster of different neighborhoods, each with its own unique character. A few areas to explore include Punta Ballena, Solana, Pinares, Paradas, San Rafael, Rincón del Indio, La Barra, Montoya, Manantiales, and José Ignacio.
Beaches and spas
One of the attributes of Punta del Este that stand out are its beaches and resorts, as opposed has both a beach ideal for sports and one that is preferred by those looking to relax and disconnect.
One of the two most notable beaches of Punta del Este is known as "La Brava", named for its intense waves that permits the practice of water sports like surfing and wakeboarding.
Beaches to relax and enjoy
On the other hand, tourists or residents looking for calmer waters and an air of tranquility and relaxation opt for "The meek", a beach whose waves is quieter and its biggest advantage is its peace.
Uruguay is known for its stability. It’s one of the main reasons many Brazilians, Argentines, and investors from around the world buy real estate in Uruguay. Most real estate in Uruguay is bought and sold in U.S. dollars. This eliminates the cost of converting purchase and sale proceeds from one currency to another. It also removes the risk of changes between currency values during a transaction.
Cultural Opportunities in Punta del Este
The cultural offer is very wide and varied and allows for guaranteed entertainment for all tastes and ages.
Events in Punta del Este
During the high season in summer, often excel cultural events ranging from street entertainment to prestigious film festivals.
Live safer, live better
It is known that Uruguay known for their security and compliance requirements of laws, thus becomes a desired point for those who want to live with peace of mind regarding safety.
Weather in Punta del Este
The climate is mild and well differentiated the four seasons, without major upheavals of temperatures and few recorded facts of natural disasters. In summer, warm weather allows fully enjoy spas.
The most visited destination
Punta del Este is not only one of the most visited cities in Uruguay but has also established itself as one of the busiest tourist spots in Latin America.
Advantages of Uruguay: stability
Uruguay has a stable economy and which has not undergone major changes or drastic financial devaluations in recent years, one more advantage that generates more and more companies decide to settle in the country.
Advantages of Uruguay: relax
So much for the people who live there or energy which quickly spread tourists arriving, Uruguay is a country that encourages relaxation and tranquility.
Advice on purchasing property
Thinking of buying a property or more specifically one of the apartments in Punta del Este, it is best to seek advice as to areas, lifestyles and budgets to find the opportunity to buy more to meet your needs.
Business opportunities in Punta del Este
More and more companies are installed in Punta del Este, generating as many jobs and investment opportunities.
Barrios de Punta del Este
Not all neighborhoods of Punta del Este are equal, although each has its particular advantages, neighborhoods like Jose Ignacio, Punta Chihuahua or whale differ from each other and it is just a matter that you find that you generate more comfort.
Proximity to Maldonado
Being so near Maldonado, Punta del Este is available for travel within and outside the country.
Business opportunities with property
Buying apartments in Punta del Este is not just a chance of getting a new place to live but also to use that property as a business opportunity by annual rents or during high season.
Investing in property
Being an economically stable country, investing in property is a convenient bet since the price of the property you buy hard down drastically; On the contrary, properties and prices are booming because the city continues to grow.
As a tourist city, will never lack demands requiring tenants to rent a space.
A safe investment
This is why investing in one of the apartments in Punta del Este is an accurate and low risk option.
A place to enjoy
There is also the possibility of purchasing an apartment as a holiday home or place of escape.
According to each budget
Since there is a very wide range, it is possible to find apartments in Punta del Este that are consistent every budget available.
There are different styles in the construction of apartment complexes ranging from classical and colonial buildings to modern and avant-garde style.
Another good option is to invest in construction financing it well and go purchase the property as it is being built.
Buildings already made
But the number of apartments in Punta del Este is varied enough to choose a property of immediate purchase.
A proper place
Whether to live, to use during the summer or to rent and earn extra income, investing in a property is always a good option to keep the cost savings and arrival not devalue an economic crisis.
An apartment as
It depends on the need, number of people that inhabit it, tastes and amenities needed the apartment you choose, but it is important to consult with a real estate experience for them to find an apartment as his life.
Apartments for rent
Demand for tenants who want to stay in Punta del Este, mainly in summer season is always high and still growing.
That's why if you want to rent the apartment to buy as a way to partially recoup the investment sales can rest assured that being such an important tourist spot in the region, who will always want to rent.
Advantages of having an apartment
Whether as savings, home or vacation home, a property is always a benefit and a smart purchase.
A tourist destination that is timeless
When choosing where to shop, keep in mind that Punta del Este is a destination that is timeless.
A natural haven
This city is held in position to be one of the most popular and most chosen both by celebrities as families who want to enjoy their natural beauty and places many advantages.
A reliable place
Both its economic stability, climate without drastic changes and safety to wander the streets, Punta del Este is a reliable way to invest in the purchase of a property and to choose as a new place to live your life.
Comfort and tranquility
The comfort of being near and far at the same time, you can enjoy its many natural attractions, its cultural supply and movement without having to travel too makes this city ideal for all ages.
Real Estate specializing in Punta del Este
It is important that when choosing one of the apartments in Punta del Este previously advise a realtor who has experience not only in the field but on sale in the city you choose, as you will answer your questions and help choose the best possible option for you.
How difficult is the property purchase process in Uruguay?
Except for areas considered part of the national security domain, there are no restrictions on the ownership of private property or the establishment of any business. Corruption is not a serious problem in Uruguay.
Before the sale, four different non-encumbrance certificates must be presented as guarantee to the buyer. The first one from the "Banco de Provision Social" ascertains that the owner is free of any social security debt. The others are acquired at the Real Estate Office, the "Registro de Actos Personales", and the Municipality. There must be no transaction without these certificates. This process ensures that there is no pending mortgage, lien, or any other encumbrance on the property.
Transfer of title is executed before a public notary. In order for the transfer of property to occur, it must be registered in the appropriate area where the property is located. A notary is very important in the transaction as the deed will be rendered invalid without it.
Value Added Tax (VAT) does not apply to the transfer of real property
Loans are generally 30 years, and the government establishes maximum interest rates. The Mortgage Bank of Uruguay (Banco Hipotecario del Uruguay) is the only mortgage bank in Uruguay and the principal intermediary of medium and long-term funds for housing in the country.
The whole process of registering a property can be completed in around 66 days.
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