Punta del Este
Uruguay
Punta del Este is a coastal city in Uruguay, famous for its mesmerising cityscape and sprawling yacht harbours. The region represents one of the most luxurious destinations in South America, making it a hotspot for property investment.
Uruguay may be the second smallest country on the continent, but it is not short of opportunities. This South American destination is home to dazzling cityscapes, beautiful natural landscapes, and lively coastal regions, whilst boasting one of the most stable and successful economies in the region.
During the twentieth century, the country underwent rapid economic development, and today boasts one of the highest levels of GDP per capita in South America. Its government is notoriously stable and the country is home to a relatively large middle class.
Agriculture is its largest export sector, and the mining industry also plays a significant role. A huge 72.7% of the population is employed in the services sector, which includes finance and tourism, and contributes 63% of the country’s GDP.
As one of the safest and most luxurious destinations in South America, Uruguay attracts a large number of visitors from across the continent and overseas.
Spanish is the most widely spoken language in Uruguay, although in the areas close to Brazil many speak a mixture of Portuguese and Spanish.
Tourism is particularly hot in the region surrounding Punta del Este, a peninsula bordering the Atlantic coast. Here, iconic skyscrapers are paired with beautiful beaches and sprawling yacht harbours. With its glitzy hotels and restaurants and glamorous nightlife, this seaside city is undoubtedly one of the most luxurious destinations in South America.
Naturally, Punta del Este attracts an affluent crowd with money to spend on quality accommodation and experiences. As a result, it is a prime location for real estate investment and provides a unique entryway into the luxury market.
“This promises to be a breakout year for the country’s lowkey coastal destinations, thanks to an ever-growing art scene that adds a layer of culture to this already inviting stretch along the Southern Atlantic.” Travel + Leisure
Our experts say
“Uruguay is one of the safest markets in Latin America for investors. Thanks to its early economic success, it has outpaced many of its peers in terms of development. Today, the country’s GDP is estimated to be $112 billion (World Economics).
Punta Del Este is the 2nd most visited region behind the capital and demand for rental accommodation is strong. Dubbed the “Monaco of South America”, it tends to attract an affluent crowd and the luxury property market is big here.
Investors can find some really high-spec properties for an attractive price point. There is also the opportunity to obtain a residency permit by making an investment of 370k USD or more (approx. 330,000 euros) with a minimum stay of 60 days per year.”
– Matt Lavin, Director
How to get there
By road
If you are travelling from Montevideo, take the Ruta Interbalnearia highway. Driving around the city is easy, with low levels of traffic except in December and January. There are also many taxis and bus routes running from Montevideo and around Punta Del Este.
By train
There are not very many passenger train routes in Uruguay. It is not possible to travel to Punta Del Este by train, although there are some connections between other cities. Bus travel is the preferred mode of travel.
By air
Punta Del Este has its own international airport, which is a 25-minute drive from the city centre. Carrasco International Airport in Montevideo is also only a 1.5-hour drive away from Punta Del Este.
By boat
Ferry services operate from Buenos Aires to Colonia (1 hr 15 mins) and Montevideo (3 hrs 45 mins). From both port cities, you can then take a bus to Punta del Este.
Weather
Uruguay has a humid subtropical climate with hot summers and mild winters. Its climate is pretty consistent across the region. The country experiences regular rainfall throughout the year and is prone to the occasional thunderstorm in the summer season.
Spring/Summer
Uruguay benefits from warm summers, with average temperatures reaching 22/23°C from January to March. However, heat waves can see temperatures of up to 38/40 °C.
Autumn/Winter
Winter in Uruguay is mild. Punta Del Este sees average temperatures of around 12/13°C from July to September. Whilst rainfall is frequent across the country, snow is rare.
Why invest
As one of the safest and most luxurious destinations in South America, Uruguay and the Punta del Este region is a hotspot for property investment.
Its economic success has created a favourable business climate, attracting buyers from across the continent and around the world. The country is also hailed for its stable government and transparency, which make it a relatively safe and risk-free place to invest.
Punta del Este is a world-class resort which attracts tourists in huge swathes. Uruguay recorded almost 2 million annual visitors in December 2022 and Punta del Este is the 2nd most visited region behind the capital, making it an ideal place for holiday rental investments. The main rental season runs from December through to March. However, more and more tourists are discovering this luxury hotspot, and many on the ground are seeing the season extend every year.
For expats, Uruguay boasts well-developed infrastructure, good healthcare, a laidback culture, beautiful scenery and an enticing climate. Punta del Este, in particular, is a great place to live for those with the means. Its beautiful beaches and luxurious hospitality scene combine to create a very high quality of life for residents. This is somewhere retirees really can make the most of their “golden years”.
Uruguay offers some attractive tax incentives. Investors can obtain a residency permit by making an investment of 370k USD or more. The government also offers fiscal residency whereby residents pay no tax on foreign income. Residency in Uruguay is becoming increasingly popular as more wealthy families emigrate from neighbouring countries such as Brazil and Argentina.
That said, overseas buyers don’t have to become a resident to own property in the country. Once you have purchased a unit in Uruguay, you can stay there for up to half a year (180 days) via a tourist visa.
Our properties in Punta del Este
