The dilemma between investing in bricks and mortar versus buying dollars as savings resurfaces after more than five years. Today we are once again talking about the incomparable security that real estate offers as an investment variable for those who have the possibility of generating savings.
And for Argentines, in recent years, new opportunities have opened up for them to do so, and they have begun to think about the possibility of buying properties in some cities in the region such as Montevideo or Carmelo in Uruguay, or Asunción in Paraguay.
Locals appreciate Uruguay's legal security, economic stability and the possibility of going to do a transaction or even visit the construction site they are investing in two hours from Buenos Aires. This country not only opens its doors to buyers, but also offers them a menu of opportunities, becoming a destination for those seeking solid and profitable investments in the real estate sector.
The Uruguayan government has implemented incentives to attract foreign investors, including 10 years of tax exemptions for those who obtain residency in the country. In addition, there is a project under discussion to extend this exemption period to 20 years.
Without a doubt, if we talk about the profitability that is perceived by renting, this country also becomes an attractive one. At the moment, we are talking about an average of 5% per year in dollars.
According to the latest data from the Uruguayan Real Estate Chamber (CIU), the average rental price rose by 12% measured in dollars on average last year and by 6% year-on-year in the first quarter of 2024.
The Chamber also identifies the best areas for investment. 74% of this year's contracts were made in Montevideo. But there is also a place that continues to grow: Carmelo.
Source: Forbes Argentina
