| With a large proportion of investor attention focused | | | | Colonia by over 50%. |
| on the larger and more popular Brazil, Uruguay has so | | | | Attracted to the country's low property and land prices |
| far barely appeared on the property investor's radar. | | | | as well as the general absence of restrictions on |
| However, with its highly competitive property prices, | | | | purchase by foreigners, foreign investors are already |
| booming economy and growing tourist sector, Uruguay | | | | active in Uruguay with Argentinian and Spanish |
| has plenty to offer when it comes to property | | | | companies especially prominent. Uruguayan land, |
| investment potential. | | | | particularly on the border regions with Argentina and |
| Uruguay is a wealthy country - one of the continent's | | | | Brazil [ is top of investors' lists and the Ministry of |
| richest, in fact - and has managed to overcome high | | | | Agriculture estimates that approximately 25% of land |
| unemployment and poverty, which are present in many | | | | in Uruguay was bought by foreigners in the period |
| other countries in the region. Recent economic | | | | 2000 to 2006. |
| performance is particularly spectacular. According to | | | | Apart from land purchases, foreign investment is also |
| the Central Bank of Uruguay, the GDP growth rate | | | | present in several large real estate projects such as a |
| during Q1 2008 reached a staggering 10.9%, proving | | | | US$200 million complex in Ciudad de la Costa in |
| that Uruguay is well on target for an annual rise of | | | | Canelones and a US$100 million in a hotel and villa |
| 6.8%. The Central Bank predicts that GDP will increase | | | | complex in Punta del Este. |
| by a healthy 4.5% in 2009. Not only is the Uruguay | | | | Competitive property prices offer further incentive for |
| economy booming but unemployment is falling steadily | | | | investment in Uruguay. Prices are far cheaper than |
| and the unemployment figure of 7.2% in May 2007 | | | | those in many European countries as well as those in |
| represented an all-time low. | | | | neighbouring Argentina. Land prices are especially low |
| Uruguay is a well-established tourist destination and is | | | | and agricultural land costs around US$2,000 per |
| particularly popular with Argentinians and Brazilians, | | | | hectare, up to 20% less than Argentina. Homes in the |
| although other nationalities are rapidly discovering | | | | capital, Montevideo, cost between US$50 and US$80 |
| Uruguay's many attractions. The country boasts over | | | | per square foot (US$100 for fully refurbished |
| 650km of coastline with stunning beaches and also | | | | properties) and prices for property in coastal resorts |
| enjoys an excellent climate. Tourism is on the increase | | | | are similarly competitive. |
| and according to the Ministry of Tourism, visitor | | | | Along with political stability, a booming economy, |
| numbers grew throughout the country during the first 3 | | | | well-established tourism and low-entry prices, Uruguay |
| months of 2008 with some resorts seeing huge rises. | | | | is certainly the next country to look in your South |
| For example, visitor numbers to Costa | | | | American investment portfolio. |
| Oceánica rose by over 130% and those to | | | | |