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 River PlateÂ to beautiful Montevideo.
Summerfield rents an apartment inCiudad 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 multiple carriers. And water lovers who enjoy a slower pace can always opt for the Buquebus.