Homes in High End Resort Destination Start in $100,000s

Punta del Este, Uruguay

Glistening Beaches, Excellent Infrastructure and Sparkling Nightlife Greet Retirees in Swanky Punta del Este, Uruguay

The Spanish first came to this area in the early 1500s, but colonization did not start for nearly another 300 years.  Today, nearly all of the population is of European descent, and the city is characterized by colonial architecture mixed with modern buildings.  The city's main thoroughfare, Gorlero Avenue, has designer shops, trendy eateries, cafes, casinos and art galleries, and because an early resident let his botanic garden get completely out of hand, gardens here overflow with plants from around the world.  The beaches are clean, easily accessible and open to the public.   Punta del Este is often called the St. Tropez of Uruguay, and it is hard to find a Latin American city with a more robust appetite for the good life.  This is not the place to choose for a mellow retirement.

Real estate comes in all sorts of sizes and prices, from modest bungalows to high end luxury homes. Prices start in the mid- to high-$100,000s USD for simple residences (two bedrooms and two baths), some within two to three blocks of the beach.  More typically, though, homes are more expensive, in the $200,000s USD and up (in some cases, way up).   Still, for such a fashionable destination, these prices are not as high as might be expected.   Rental units, on the other hand, tend to be very pricey, primarily due to the limited supply and large number of vacationers who snatch them up.   

For many years, affluent Argentines purchased most of the real estate here, but that is changing as more Mexicans, Europeans, Chileans and Americans are stepping into the market.  La Barra is the neighborhood in which to buy, but it is also one of the most expensive.   Once a property is found, 10% down is required when making an offer.

Uruguay is often called the least corrupt country in Latin America and is characterized by an educated, prosperous middle class, a stable economy and first-class infrastructure (except in the towns that do not have electricity).  Spanish is the official language, and beef and lamb, often grilled, fried or stewed, are the main dishes.  The climate is warm and temperate, and the overall cost of living is one of the lowest in the world.

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