Uruguay estancias for sale are finding new life as designer farms

Shabby Chic: A renovated estancia near Colonia, Uruguay (Source: Lucy Gilmore)

“Summertime…and the living is easy.” That’s what The Guardian’s Lucy Gilmore discovered during her recent trip to Uruguay. Gilmore visited some of the hidden gems of the Tango Coast including the port town of Colonia del Sacramento and some beautiful renovated estancias just a few kilometers inland.

The estancias, which date back to the 1880′s, are finding new life as “designer farms” as young Argentine professionals, perhaps seeking a better work/life balance, are opting for Uruguay’s bucolic charms. One of the architects Gillmore stayed with completely renovated his estancia which she describes as “whitewashed and low-lying, with five bedrooms, the style is shabby chic: old shutters, wooden floors, and beds draped with muslin canopies.”

I myself am just back from end of the year vacations in Uruguay which ranged from the natural beauty of Colonia to the noise and nightlife of Punta del Este. Like Miss Gilmore, I find myself gravitating more toward the peace and tranquility of the former. The coastline drive from Piriapolis west to Colonia is beautiful (Photo), and the terrain looks more like Central Virginia than South America.

I have another Argentine friend, Andres, who takes his family to their WiFi-enabled estancia in Colonia for the entire month of January. As a web designer, he doesn’t miss a beat, and the close 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 the future. (Full Article)

For more information about investment opportunities in Uruguay including several estancias, download the new issue of InvestBA Privada and watch video tours of our listings:

Canelones Estancia – US$1,500,000

Punta del Este Citrus Estancia – US$2,500,000

La Paloma Waterfront – US$2,500,000

Modern high-rise in the Buenos Aires neighborhood of Palermo Soho.

With the dollar’s continued slide and a lingering mistrust of financial institutions, where should foreign investors put their money in Argentina? Real estate says Yemisrach Kifle of NuWire Investor.

Unlike some parts of Central America where the boom and bust cycle closely mirrored the rise and fall arc of the U.S., Argentina’s property market posted more modest annual gains and avoided the wave of mass speculation and highly-leveraged deals.

One of the most popular real estate investment tiers in Buenos Aires is the $100,000-$150,000 range, says Kifle, and many such projects were featured at last week’s Salon del Mercado Inmobiliario.

Scott Mathis, Chairman at Algodon Luxury Properties offers this explanation: “The real estate market in Argentina has fared much better than the US or Europe over the last year, as almost all real estate transactions in Argentina are non-leveraged. Sales have stalled somewhat as buyers are waiting to see what happens around the globe but real estate prices have not been hit nearly as hard in Argentina.”

In summary, Kifle offers this conclusion:”The prospects of the Argentinean real estate sector seems to be bright. Given the current financial crisis and the sliding dollar, investors may also see real estate as a safer place to park their money.

For more information about Buenos Aires investment opportunities, download the new issue of InvestBA Privada.

 

Bariloche

Mendoza

Uruguay

© 2011 InvestBA.com