I've been researching buying property in Montevideo recently and am flying out there at the end of Feb to have a look round and view some properties. The best info I've found is from Muxi & Asociados. They are a legal and foreign investment advisor and can put you in touch with reputable estate agents. Their e-mail address is www.uruguayINVEST.com. Another useful address is www.uruguayinfo.com.
I'll be asking plenty of questions while I'm out there, but as far as I can see, this is a great time to buy, provided you're not in it for a fast buck.
I'll e-mail again if I come up with any great or scary news re the economy out there. Sadly I don't know anything about mortgages.
My trip to Montevideo was very interesting. I viewed 8 one bedroom apartments in various districts, all of them new. The asking prices were about USD 25-30,000, but you could make a purchase for USD5-10,000 less. The apartments were built 3-4 years ago before the economic down turn. Now few people in Uruguay can afford them, so there is a good opportunity to buy cheaply. Montevideo is a mix of things. Some beautiful old Spanish Colonnial style buildings mixed in with some poor areas. It looks like an attractive city running out of money. I was told the value of a property should increase 10% over the next 5-10 years. This would increase if foreign investment picked up. It is not a place to make fast money. If you want to take more of a risk, with greater reward, Argentina is the place to go. Hope this is useful. Good luck.
My wife and I are retired and I have been researching Uruguay as a place to purchase a 2 bedroom apartment. I'm flexible as to location, I'm open to Punta del Este, Maldonado, Montevideo, Colonia, etc...
Does anyone know the current Real Estate Market in Uruguay and/or the current economic situation.
I am tentatively planning a trip to Uruguay next May '04.
Dear Rev or others interested in buying real estate in Uruguay-
My wife and I have an apt in Punta del Este and we know many reliable and good real estate companies there for homes and apts. and in Montevideo as well as farm lands
I am an international beef trader and currently in Texas but my wife is there in Punta del Este (teaches english) and would be more than happy to assist anyone interested in R.E. business and or local info.
I saw your message on the expatexchange website and thought I would ask you if you ever found a property to invest/buy in Uruguay?
I am an American who has been living and working in Uruguay off and on for over 15 years now. I have a reliable and respectable group there that specializes in Real Estate investment and assist many foreigners in their dealings.
Pls advise your current status with this and we can go from there.
I have just been to Uruguay looking at property and found Veronica Funch-Thomsen very helpful. You can email her at: [email protected] She is a native who is also flluent in English. Honest, well informed, and completely pleasant to deal with.
Glenn Smith, Ph.D. Professor Emeritus Northern Illinois University [email protected]