Piriapolis is Uruguay's first seaside resort town. Today, it is very popular with families. Foreign investors find Piriapolis, Uruguay real estate to be a good investment because the prices are quite low and the opportunity to rent properties to vacationers is great.
Piriapolis offers a small and quiet beach resort, compared to the better known area of Punta del Este. Many families vacation in Piriapolis to take advantage of the family friendly location, the beautiful rambla along the sea and the nearby hill and forests that are unique to this part of Uruguay.
There are lots of properties for sale in Piriapolis, and the prices are better than in other, more populated beach areas. There are places for sale on the beach, but you can also find very moderately priced homes in residential sections just a block or two from the water, as well as beautiful retreats in the surrounding hillsides.
Real estate in Piriapolis, Uruguay is a great value for foreign investors. Not only are the prices on real estate in Piriapolis lower than prices in Europe and the US, they are also lower than in many other parts of Uruguay.
For several years, Piriapolis was looked down upon as a “lower class" area compared to the more popular Punta del Este. But, that attitude is rapidly changing as Piriapolis is being developed and as foreign investors are showing appreciation for both the incredible beauty of the beaches and hills and the good value in Piriapolis real estate.
The market for real estate in Piriapolis, Uruguay is growing, so these great deals may not be around much longer. In fact, from 2005 to 2010, Uruguay had one of the fastest growing economies in all of Latin America. But, if you're serious about owning a vacation property, rental property or retirement home in Uruguay, now is a great time to check out Piriapolis.
Buying real estate in Uruguay is fairly simple. You're not required to be a resident of the country, and taxes are minimal. Investing in real estate in Uruguay is safer than investing in many other foreign countries because both the economy and the government have proven stable. The country is safe, and attracts more and more visitors and investors each year.
Most real estate transactions in Uruguay are carried out in cash, and banks are very conservative when it comes to mortgage lending. If you need a mortgage to purchase real estate in Uruguay, you will most likely want to obtain it in your home country. Working with a licensed realtor in Uruguay is the best way to avoid any problems or unnecessary costs as you purchase your Piriapolis real estate.
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