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New York Times Focus On Jose Ignacio, Punta del Este Real Estate

On November 10, 2010, In foreign investment, real estate, uruguay, by InvestBA
Uruguay Estancia in José Ignacio

This José Ignacio residence is currently listed at US$2.9 million. (Photo: New York Times)

The New York Times’ Great Homes & Destinations made the annual pilgrimage to Uruguay, and this year they wandered back to the beach. While last year’s featured property was a private estate in Garzon, this year Punta del Este takes center stage and the upscale oasis of Jose Ignacio to be specific.

The chosen property is a 4-bedroom residence designed by Argentine architect Guillermo Alonso situated on a 2.5 acre parcel complete with swimming pool and parrilla. Virginia C. McGuire describes the home’s rustic charm rising from the polished concrete floors.

“The great room has 20-foot ceilings and a wall of French doors that lead out to the terrace. The kitchen has an island with a cutting board made of reclaimed pine. The cabinets are also pine, and the 80-year-old porcelain farm sink was found in a nearby antique shop. The counters are of Carrara marble. Maid’s quarters are off the kitchen. The four bedrooms, two on each side of the great room, have exposed stone walls, French doors and en-suite bathrooms.”

McGuire consults with local brokers who confirm Jose Ignacio’s reputation as one of the most expensive markets in Uruguay ($370/SF and up), followed by trendy La Barra ($260/SF) and more affordable Punta del Este ($170/SF). As for who’s doing the buying, Argentines and Brazilians still rule the roost, but locals confirm “an increase in interest from farther afield: Europe, the United States and Australia.” (Full Story)

For more information about Punta del Este real estate, download the new issue of InvestBA Privada or contact us directly. 

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I♥UY: The PR Gods Are Smiling on Uruguay

On July 27, 2010, In real estate, tourism, uruguay, by InvestBA
More Americans and Canadians discovering quality of life in Uruguay

So far, 2010 has been a media lovefest for Uruguay. (Pictured: Oceanfront developments in Punta del Este)

If we could dole out awards for the best and worst PR campaigns in the Americas for 2010, the loser by an oily nautical mile would be BP. On the other hand (and hemisphere), the winner would be the Republic of Uruguay.

When InvestBA originally launched, we coined the phrase The Tango Coast to encompass opportunities on both sides of the Rio de la Plata. For every four stories about Argentina, we would unearth a gem about our Mercosur neighbor; however, pro-Uruguay, pro-investment content has been so fast and frequent this year, we had to finally create our own Uruguay channel.

2010 got off to a good start with a Top 20 ranking in the International Living Quality of Life Index, then Spear’s Wealth Management Survey sized up the tax advantages and dubbed Uruguay, A good place to visit your money. The I Love UY parade continued this spring with two new airline deals (Buquebus and Jazz/Pluna) further linking Uruguay with the world, while The New York Times touted the country as an attractive retirement destination for Americans and other foreign buyers.

Then the World Cup kicked into high gear where Diego Forlan & Co. put together an odds-defying performance and silenced the skeptics, including a Miami Herald reporter. Now it seems we’ve come full circle with another glowing International Living piece naming Uruguay, “The New Tourism Leader in Latin America.” Bottom line: If the last six months of 2010 are anything like the first six, Uruguay can look forward to more positive press and an influx of foreign buyers.

For more information about investment opportunities in Argentina and Uruguay, download IncomeBA and the new issue of InvestBA Privada.

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NYTimes: More Americans Choose Retirement in Argentina & Uruguay

On May 20, 2010, In foreign investment, lifestyle, tourism, uruguay, by InvestBA
Punta del Este Beachside Home
An American recently bought this beachside home in idyllic Punta del Este, Uruguay for US$160,000.

It’s another triple-digit loss day on the Dow so, depending on your degree of diversification, your retirement savings may be taking a similar hit. Appropriate then that we turn to an article on net worth and how to stretch your hard-earned savings post-retirement. The New York Times says Latin American destinations like Buenos Aires, Punta del Este and even Medelli­n are starting to factor into the equation for Americans seeking an affordable retirement destination with a high standard of living and affordable health care.

“Now that air travel and communications have grown easier, adventurous seniors are retiring to more far-flung destinations, lured by lower costs, better climates and growing colonies of like-minded retirees,” writes Shelley Emling. Argentina and Uruguay are both mentioned in the article which features one American who bought a Montevideo condo for $58,000 and a beachside Punta del Este home for $160,000. Two homes in Uruguay for the price of a two-room co-op in New York? No wonder the Times is looking to the Southern Hemisphere with a sense of longing.

It’s good to see more mainstream news sources picking up on what InvestBA and other specialty publications like International Living and Shelter Offshore have known for some time. As one of the North Americans interviewed sums it up, “I don’t know of anyone who has decided to move back full-time after having had a taste of living abroad.”

For more information on retirement opportunities in Argentina and Uruguay, contact us and download the new issue of InvestBA Privada.

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The Politics of Beef: How Argentina’s Loss Became Uruguay’s Gain

On December 18, 2009, In competitiveness, energy & agriculture, foreign investment, uruguay, by InvestBA
Uruguay beef industry, cattle and farming

Cows outnumber people over 3:1 in Uruguay and grass-fed beef is the norm. (Photo: Eduardo Amorim)

An American Express print campaign several years back encouraged cardholders to travel abroad with this culinary tagline, “Only 4 restaurants in the world can prepare the perfect steak…3 of them are in Argentina.” Perhaps the only thing bigger than the country’s reputation for fine beef is the sheer girth of the cattle that roam the fertile Pampas.

But a funny thing happened on the road to recovery from the ’02 financial crisis, Alexei Barrionuevo tells New York Times readers: “Argentina, in some ways, is a victim of its own success.  Exports rose after a steep devaluation of the Argentine peso in 2002 made the country’s beef more competitive globally. But supplies began to dry up for Argentine consumers who eat more beef per person than any others in the world, industry officials say, causing prices to rise and stoking social discontent.”

Political intervention and recent drought conditions forced many farmers to focus more efforts on soybean cultivation. Advantage Uruguay. The neighboring country of 3.8 million is growing beef exports and gaining visibility on the world stage, thanks in part to an aggressive marketing campaign by INAC, the National Beef Institute. InvestBA remains highly bullish on this beautiful country which offers foreign investors unique investment opportunities, tax advantages, natural beauty in both the interior and along the Tango Coast, and together with Argentina, the highest quality of life of any two countries in Latin America. (Full NYTimes article)

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

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