Montevideo is Uruguay's largest city and its capital. Those who love the city life will find Montevideo, Uruguay both a great place for investment and a wonderful place to own a home. The Montevideo real estate market is on the upswing, but foreign investors still get a great value here.
Montevideo is Uruguay's most bustling metropolis. It is home to about 1.3 million people: half the total population of Uruguay. Montevideo is one of the most beautiful cities in South America. It is situated on the southern coast, so it offers a beautiful beach as well as a thriving downtown. Don’t let Montevideo's lack of skyscrapers fool you: this town has great museums and plenty of places to dine on Uruguay's delicious food.
Real estate in Montevideo is some of the most expensive in Uruguay. This is because the city offers convenience along with plenty of amenities. However, for foreign investors, purchasing real estate in Montevideo, Uruguay is still a great value compared to prices in the US and Europe. It is even a great value when compared to some other popular Latin American destinations like Buenos Aires, Argentina.
In addition to the great value you'll find in Montevideo real estate, you'll also find great variety. There are beautiful downtown apartments with lovely views of the water as well as apartments right on the beach. Or, if you prefer a house, you can find one in several residential areas in town. Further outside of the city limits, there are farms for sale, too.
Purchasing real estate in Uruguay is fairly easy, and there are no restrictions for foreign investors. Uruguay's real estate market is one of the most stable in Latin America. This is primarily due to the fact that most transactions are cash based. Banks in Uruguay have very strict mortgage lending policies, causing most locals to own their properties outright. If you will require a mortgage for your property, it's best to seek it in your home country and pay cash at your closing in Uruguay.
There are plenty of licensed agents ready to help you find real estate in Montevideo, Uruguay and navigate through the process of buying. They can also help you locate a rental in Montevideo, if you would prefer to rent rather than buy.
Uruguay's economy is growing, so while real estate in Montevideo is quite inexpensive right now, you can expect it to appreciate over the coming years. This means that you can expect your investment in Montevideo real estate to be a safe one. But, it also means that you should act now in order to get the best deal available. Montevideo is a well-kept secret for now. You can be sure that as the world economy improves, this secret is sure to get out.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Montevideo Uruguay real estate for sale, Montevideo, Uruguay real estate exchanges, and Montevideo, Uruguay rentals . Montevideo, Uruguay real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.