Real Estate Opportunities Abound in Montevideo’s Ciudad Vieja

Patrick Archer real estate, uruguay

Classic Architecture in Montevideo's Ciudad Vieja

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 River Plate 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.

For more information about Uruguay real estate opportunities, download the new issue of InvestBA Privada or search our Featured Property Database.