Uruguay is one of Latin America’s First World countries: a country with one of the continent’s highest standards of living, lowest levels of corruption, and best infrastructures.
Punta del Este is South America’s number one beach resort, and when it comes to amenities, the marina is one of the best-located I’ve found anywhere. The Punta del Este area includes about 15 miles (25 kilometers) of beach, with the town itself situated on a peninsula in the middle.
Heading west from the peninsula toward Montevideo, you’ll find the beach known as Playa Mansa, while heading northeast toward Brazil is Playa Brava.
Between these two stretches of beach, the Brava side is favored by vacation homeowners and is perhaps a bit more prestigious. The beaches are wide here and bordered by large dunes, the sand is fine, and the waves are big (“brava” means “fierce” in Spanish).
The Mansa side has more year-round residents who enjoy beautiful homes at lower prices. The beaches are narrower, and waters on the Mansa side are relatively calm (“mansa” means “gentle” or “tame” in Spanish).
The peninsula is the actual town of Punta del Este. Here you’ll find the exclusive shopping and the area’s best restaurants, casinos, hotels, and high-rises. This is the sector where you can live without a car.
The weather is fantastic during the summertime—November through March—with little rain and a pleasant average high of 76°F (24.4°C), thanks to the ocean’s moderating effect. (It’s pretty nice in the wintertime too, but not warm enough to draw many to the beach.)
The local government puts a lot of money into keeping things nice in Punta del Este in order to keep the visitors coming back. The water is drinkable, the streets are clean and well maintained, and the beaches are raked and cleaned daily. New wooden walkways traverse the dunes here and there for people who may have difficulty walking in the sand.
And Punta del Este is a magnet for property investors.
There’s a huge flow of international traffic, which creates demand from around the world.
Drawbacks To Punta Del Este
The incredible amenities in this city aren’t free. Punta del Este has the highest day-to-day cost of living in Uruguay, and virtually everything is somewhat more expensive than in Montevideo or the interior.
That said, we still believe that the cost of living in Punta del Este is justified by the excellent quality of life here.
It’s normal for Punta del Este real estate agents to pad the owner’s asking price, as they do in nearby Argentina. We know of one agent increase asking price by $30,000, while another agent upped the price by 30%. Our advice is to look at enough properties—keeping track of the cost per square meter—to be comfortable that you know what things are worth.
Also, check the Buscando Casa website, a multiple list service, to see what any prospective property is listed for publicly.
Why You Should Be Interested In Punta Del Este
Punta del Este is a naturally beautiful place. The beaches are wide and long, bordered with dunes, and are beautiful and well-maintained. The infrastructure is impeccable, the roads are well-kept, and the beaches are groomed daily.
You’ll find more fine-dining establishments than you could experience in a year… plus high-rise casinos, big-time shows, high-fashion expos, and concerts. The shopping is also world-class. Yet if you go just a halfmile away, you’ll find yourself in a quiet residential setting, with large lawns and beautiful homes.
There’s a huge inventory of real estate starting right at the edge of the marina, in Punta del Este’s Peninsula sector. We’ve seen older, modest apartments going for just over $130,000, and large, luxury apartments going for over $8 million.
Regardless of your price band, if you’re near the marina, you’re in the heart of the area’s best rental market.
The market is liquid. People come by the hundreds of thousands to visit Punta del Este every year, and lots of them have an eye out for property. This results in thousands of properties being sold every year—just what you need if you’re concerned about resale.
Notably, Uruguay attracts people concerned with individual sovereignty and international diversification.
It’s one of the world’s best locations for establishing a second residency, a second citizenship, and an offshore financial presence.
As an added bonus, properties in Punta del Este are priced in dollars, as they are throughout Uruguay. This sits well with the international market, as it provides a way to invest in dollars while remaining geopolitically distant from the United States.
Sincerely,
Lee Harrison
Contributor, Global Property Advisor
