Ola Uruguay Real Estate and Investments

Uruguay is an increasingly popular retirement destination.

Years ago, if you had made it to Uruguay for a visit it was mostly likely for a quick stop with a cruise ship. Lately, tourism and expat flow towards Uruguay is becoming more and more popular with people from Europe, Canada and the U.S. Families are relocating in search of a safer, more dependable lifestyle out of the lime-light of larger countries involved in political controversy. Seniors, as well, are choosing more and more often to retire in Uruguay to enjoy their golden years.

Retiring in Uruguay has become quite popular and it is easy to see why. Achieving residency in Uruguay is relatively easy considering how complicated it can be in other countries. No visa is required to enter Uruguay as of yet, and the government system is fairly well administrated. The living conditions are pleasant. Tap water is potable, transportation is good, streets are well maintained, and highways are modern. There are no common natural disasters and no political strife. The economy is stable and the people are friendly, accepting, and laid back. It has recently been considered the safest South American country. Although crime has risen just slightly, still the country is very secure. Education is great, and health care is available to the public. There are also private medical centers which offer top of the line medical coverage for a reasonable price compared to what retirees might pay some place else. Uruguay experiences four seasons, but always enjoys a pretty moderate temperature. Also, Uruguay does not tax foreign income, so pension, social security, and any money that is generated outside of Uruguay is not taxed in Uruguay and therefore does not need to be reported to the Uruguayan tax authorities. These are just some of the benefits Uruguay offers. Uruguay is also full of gorgeous places.

A quaint street view in Colonia.

Colonia is a cobble-stoned, quaint town draped in buganvilias and legends. With a population of approximately 21,000, it is relaxed and quiet, with all the comforts of a city. The view from the old section of town is just beautiful. The main tourist center is full of darling bed and breakfasts, restaurants, cafés and art galleries. A lot of artists choose to move here because of the romantic air and rich history. The most convenient part is, Buenos Aires is just a short ferry ride across the river.

Punta del Este on the far eastern coast of Uruguay and is a haven for retirees and expats from all over the world. During the summer months (January and February) the city explodes. Fantastic five- star hotels speckle the city, boutiques line the streets, and restaurants offer delicious and varied cuisine. There is a considerable foreign community there all year round, but in the winter the general population drops substantially. It becomes a tranquil, pleasant place with lovely beaches to stroll. Jose Ignacio is a lovely neighboring city, but requires a higher budget and after summer, the community nearly shuts down.

Piriapolis is another well-rounded beachside town in eastern Uruguay. The population is about 7,500 year round, but the summer months bring thousands more. The houses are built on hills and the view overlooking the ocean cove by the city is breathtaking. This is a great place for families in summer, and a perfect place for grandparents.

Lastly, the country´s capital city of Montevideo is a great place to retire for those still up for some action and city lights. Pocitos, Punta Carretas, and Carrasco are three really nice neighborhoods. Pocitos Beach is one of main beaches in the city and is always full of people of all ages out enjoying the day. It is also home to several universities and language schools. The houses are old and historic and the area is close to almost anywhere you might want to go in the city. Punta Carretas is right next to Pocitos. It boasts a large, well-kept shopping mall, which is built in a building that once was a prison. The houses in this neighborhood are large and feature distinctive characteristics. This area also has extremely convenient access to places all over the city.

The famous Carrasco Hotel & Casino in Montevideo's Carrasco District.

Carrasco is a very pretty and dignified neighborhood on the brink of the city limits. Some of the most famous restaurants in the city are located around here.  It is its own little community and because it is farther from center city, life is quiet and relaxing. Almost all the houses have large yards and little barceque cabins behind the house for the standard Uruguayan ¨asado¨ or social barbeque. People walk most places or ride bikes. It is ideal for families or senior citizens.

Uruguay is relatively cheap, especially regarding real estate, so a lot of people in Uruguay enjoy the luxury of having several homes around the country. Montevideo is a cosmopolitan city with a lot to offer. There are fantastic restaurants and impressive museums. The city’s main theaters are top-notch and host artists from around the world. However, it would be a real shame to not be able to take advantage of the country´s beautiful coastline and fabulous beaches. Uruguay´s countryside is also serene and lovely with rolling hills and endless green pastures. Some people opt to have a little place in each area—a great option that is financially feasible due to the relatively low cost of land. Uruguay´s low prices are great for real estate investments and business endeavors as well. No matter where you choose to settle, a share in land used to keep livestock (Uruguay´s main industry) or purchasing heads of cattle are great, low-stress ways to secure a comfortable income in your retirement. Purchasing a house in one of the several beach communities along Uruguay´s coast can be, too, if you are up for renting it out. The summer season here is one massive tourist movement and renting out a property is all but guaranteed to be lucrative.

The verdict is in: the pilgrimage to Uruguay is gaining speed. Whatever the ambiance you seek, Uruguay has something on offer.