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. …