If you’ve considered buying a luxury home in Uruguay, or other types of luxury property in Uruguay, this may be a good time. (Let’s not forget luxury real estate Uruguay.)
Here in the prime Coastal Corridor, between Jose Ignacio and Piriapolis, there is a wide variety of really, really nice stuff in the $750,000 - $2.5M range, estates and chakras (small farms) with fine homes. In the EU and North America, this is not the price range of the super wealthy. A nice flat in Paris can be $2M easily. This price range is not in the rarefied air zone and is subject to the laws of gravity. Tightening global markets have to take a toll in some measure on prices here. As always, there are countries that won’t take hits to value; Uruguay may be one of them. We don’t really know because there are no hard statistics for the country.
The wild card of course is the dollar. Prices are already lower for EU buyers and many others because of the bucks steep decline.
Never the less, if you’re looking in this price range, make an offer. There are some flexible sellers about; of that I feel certain.
Stay Tuned!
Steve Bowman
Entries (RSS)