HNW Argentines Shift Billions To Colonia Banks & Real Estate

Patrick Archer competitiveness, foreign investment, lifestyle, real estate, tourism, uruguay

Bank deposits and real estate investments in the Department of Colonia are surging, according to an article in today’s iProfesional. The Department of Colonia encompasses the historic port city of Colonia del Sacramento, the town of Carmelo where property values are soaring and Nueva Palmira, the most important departure point for Uruguay agricultural exports. The number of Argentines opening new bank …

Charming Colonia Is Uruguay’s Fastest-Growing Safe Deposit Box

Patrick Archer aruba, foreign investment, hotels & casinos, real estate, tourism, uruguay

The surge in Argentine bank deposits in Uruguay made front page news last week and should come as a surprise to no one who has followed the impact of Argentine currency controls on everything from new construction to existing property sales to outbound tourism. The surprising part of the story is exactly where those funds are being deposited in Uruguay. …

Colonia Real Estate Soars Thanks To Uruguay Workers & Foreign Visitors

Patrick Archer aruba, foreign investment, real estate, uruguay

Rental rates for homes and apartments in Colonia del Sacramento are reaching record heights, according to a new article from Eduardo Barreneche and Pedro Calvijo of El Pais. The construction of Montes del Plata’s US$2 billion paper mill in the northern Colonia town of Conchillas has prompted an influx of thousands of employees living in Colonia del Sacramento and Carmelo. …

Colonia Emerging As A Year-Round Tourist Destination

Patrick Archer aruba, hotels & casinos, lifestyle, real estate, tourism, uruguay

The cobblestone streets, 17th century architecture and beautiful sunsets that characterize Colonia del Sacramento have always lured Argentines and international tourists in Buenos Aires across the river for a weekend stay. But now Colonia is turning into a year-round destination, and the same qualities that attracted the Portuguese back in 1680 are luring a new generation of real estate investors and …

New York Times: Colonia Real Estate Attracting More Foreign Investors

Patrick Archer foreign investment, lifestyle, real estate, tourism, uruguay

Lionel Messi (“the little man in the orange shoes”) and the Argentine Seleccion were showered with compliments this morning by The New York Times for their performance last night in New Jersey, but Uruguay also received its fair share of praise this week. Cesar Barrios of La Republica tells Uruguay readers that Colonia was just featured in a Times article …