Classic Architecture in Montevideo's Ciudad Vieja
While Buenos Aires is the preferred regional destination for many foreign real estate investors, Margaret Summerfield takes NuWire Investor readers on a quick trip across the Río de la Plata to beautiful Montevideo. Summerfield rents an apartment in Ciudad Vieja, a picturesque historic zone of Montevideo she describes as “an up-and-coming area for overseas property buyers.” Summerfield lives in and has renovated properties in Casco Viejo, an historic area of Panama City, so she has a good basis for comparison, but she says Montevideo has much greater upside potential. A fifteen-room apartment with high ceilings, marble fireplaces and hardwood floors in Ciudad Vieja is on the market for $180,000, while a “statement house” with plaster moldings and stained glass ceilings is listed for $390,000. Quick, direct flights to Montevideo and Punta del Este are available from Buenos Aires on Pluna, the airline with the most modern fleet in Latin America. And water lovers who enjoy a slower pace can always opt for the Buquebus.
[...] values in BA are comparable with nearby Montevideo, a market NuWire Investor recently described as first world luxury with third world prices. For more information on real estate opportunities in BA, send your search criteria [...]
Social comments and analytics for this post…
This post was mentioned on Twitter by InvestBA: NuWire looks at real estate opportunities across the river in Montevideo…first world luxury at third world prices: http://bit.ly/TuM8P...
[...] proximity to Buenos Aires makes commuting via Buquebus a cinch. With more stories like this and last year’s NuWire Investor piece, Uruguay will continue to attract more foreign property investors in 2010. (Full [...]
[...] of BA’s wealthiest families in the 19th century, there is classic architecture on par with Montevideo’s Ciudad Vieja. The abundance of closed factories is also drawing the interest of residential developers. Projects [...]
[...] in Buenos Aires and several historic properties in Montevideo’s Ciudad Vieja, recently featured by NuWire Investor. Future Insider issues will feature cultural, legal and financial advice, as well as one-on-one [...]