Uruguay Coastal Properties

It’s been awhile since we’ve talked about the Pan Azucar development. As you may know, Sugar Loaf Ocean Club and Spa is the only luxury development inside the city limits of Piriapolis. In addition to second homes, the project will provide upscale vacation rental inventory as well as rental property for short and medium term needs.

Apparently, things have been going pretty well. In the last six months 41 lots have been sold, surpassing its projected lot sales for the year by 48%.

Due to the brisk sales, Sugar Loaf is buying 175 acres of land adjacent to Sugar Loaf, to develop as additional phases in the project. The additional property will more than triple the size of the project, increase the total acreage from 75 to 250 acres, and expand the number of lots from 114 to 380.

There are still only eight houses under construction or complete; it will be interesting to learn what’s up with all these lot purchases.

There’s also an opportunity for equity investors in this new phase. If interested, let us know and we’ll connect you with the developer.

This is an important consideration I left out of the last week’s article.

This post talked about the brisk lot sales at Sugar Loaf Ocean Club and Spa. I wondered when I first talked to David James about the lot sales, “Can people build whatever they want?”

I’m very happy to report the answer is NO. They are free to do as they please inside the house, but the design has to be the developers. In my opinion, this is a very good thing; the luxury designs are attractive and very Local in appearance as well as the feel. I feel this requirement assures the upscale status of the project will be maintained.

I’ve seen some very upscale hoods here where people have purchased expensive lots and put trash in……go figure.

Sugar Loaf Ocean Club and Spa, Piriapolis’ luxury home development, recently released and sold out all building lots in Phase II, Armonia. This was the first time the option to buy lots without a home has been offered. Previously, the only alternative was to buy a home package which included the plot, a home design and construction.

It appears all the lots were sold in a few weeks. Based on the brisk activity, the developer decided to release another section of lots called Tranquilidad.  Tranquilidad is at higher level on the hill and the lots have even better panoramic ocean views than the ones offered at Armonia. This section of lots will be released to the public on August 1st. These lots are priced at US$59,900. Currently there is owner financing available but is due to expire on August 1st.

As far as the current status of construction on Pan Azucar, there are seven luxury homes due to be complete and delivered in December. Three more houses will start in August.

If you’re coming to town, be sure to stop by. The views range from excellent to out of this world and the designs are tasteful with distinct local, Uruguayan influence.

Last week we introduced Uruguay Property Tour, six properties cooperatively marketed by a group of developers:

Sugar Loaf Ocean Club and Spa in Piriapolis

The Alexander, Tiburon, and Blue Blue projects in Punta del Este

Laguna Tranquila in La Paloma, Rocha.

While real estate tours are not unique, the approach by this group is. In addition to visiting all six projects, included is an all-inclusive accommodation, food and entertainment package. Here are a few highlights:

- Complete 7-night, 6-day guided tour of Piriapolis, Punta del Este, La Barra, Jose Ignacio, La Pedrera and La Paloma.

- Opportunity to purchase in six luxury developments on the coast

- Full range of cultural activities from wine tasting to tango!

- Fine cuisine; handmade pastas and world-famous beef

- Personal tour-guide with all local transportation provided

- Free attorney consultation on living and investing in Uruguay

- Professional tour-guide.

Includes: Accommodations for 7 nights, all meals, tour activities and ground transportation. Does not include alcoholic beverages or cash compensation.

Whether you buy property or not, this tour promises to be a lot of fun!

For details about the itinerary, click here for Uruguay Property Tours.

We have a new client, Uruguay Property Tour.

There’s an interesting, creative twist in play with these folks; this group of project owners have developed a joint marketing vehicle in Uruguay Property Tour. Six different properties are being cooperatively marketed through this partnership.

To build on this unique approach the group offers all inclusive real estate tours to showcase the properties as well as the cultural assets of Uruguay.

Here’s a sketch of the different real estate projects:

Sugar Loaf Ocean Club and Spa is the premiere development in the Piriapolis area. Sugar Loaf is South America’s only gated community and resort to combine Western comfort, Latin warmth, and thousands of years of Eastern wisdom, presented in a harmonious environment, very much by design. The development has the most commanding water and mountain views in the country. (This is my personal opinion.)

Alexander, Tiburon, and Blue Blue are three of Punta del Estes’ most luxurious condominiums located on the Playa Brava water front. These top quality condos are complete with luxury finishes and amenities that include indoor swimming pools, gyms, saunas, game rooms, movie theaters, business centers, tennis courts, and BBQ areas.

Laguna Tranquila is a new community overlooking the Rocha Lagoon near La Paloma. Just a few kilometers from Jose Ignacio, La Paloma and Laguna Tranquila are the next happening thing on the Coast. The property will feature a boutique hotel and spa as well as 146 homes, fractionals, and home sites ranging from 2,500 square meters to over a hectare. The beautiful views of the lagoon, ocean, and La Paloma lighthouse are perfect for exploration by hiking, by horseback, or by bike.

Be sure to visit the site and learn more about the fun and entertaining parts of the tour.

Click here to enter the Uruguay Property Tour site.

Our friends at Uruguay Property Tour and Uruguay Coastal Properties wish all of our readers, clients and business associates:

A Happy and Prosperous 2009!

Steve Bowman