Situated in the south, Montevideo is the country's capital and the largest city in Uruguay. The city has very traditional customs mixed with a laid back American approach to life. Montevideo has one of the most important harbours in Latin America. There are several beautiful beaches in and around the city which attract tourists each year, including Buceo beach, Malvin beach and Playa de los Ingleses. There are several monuments, museums and historic buildings to admire in and around the city. Montevideo has been stated as the city with the highest standard of living in Latin America but sadly it has been overshadowed in both tourist and investment terms by cities such as Buenos Aires meaning property prices have remained low. Sensible investment property purchases here will either be in a well equipped coastal development or in restorations of existing historical buildings, both of which should remain in demand and therefore provide a reliable exit strategy. The capital's year round appeal is another lure for investors looking to obtain consistent rental returns.
Punta Del Este
The St. Tropez of South America, Punta Del Este is the place to see and be seen in. A vibrant city in a stunning position, it offers reams of pristine beaches and an elite clientele. Anyone who's anyone in South America frequents this coveted spot and Punta Del Este is considered the most up scale resort in Latin America, known for its good-looking people and lively nightlife. The resort is becoming increasingly popular with North Americans and Europeans. The town only has a small population, but during the tourist season this number swells dramatically.
Growing demand for high end property is provoking increased construction and laying the foundations for a very successful investment future, although this is already one of the most developed areas in the country and fears over its sustainability are arising. Located 130km to the east of the capital Montevideo, Punta del Este attracts many visitors every year with its white sandy beaches and buzzing nightlife. The area is known for its huge lagoons, 'Del Sauce', 'Del Diario', 'Blanca' and 'Jose Ignacia'y'Garzon', each one with different qualities for the practice of various sports.
Punta Del Este also has an exceptional yacht port, which in high season hosts over 500 yachts and sailing boats from all over the world. January and February are the busiest months as a handful of celebrities and wealthy yacht owners take over the 20 miles of picturesque beaches to enjoy the scorching summer temperatures. Out of season however, the city quietens and occupancy levels drop off.
Chuy is situated on the border of Uruguay and Brazil. The main street in the town forms the border between the two countries and because of its positioning half the town speaks Spanish and uses the pesos currency whereas the other half of the city speaks Portuguese and uses the reais currency. Although there isn't much to see in the town it does have tax free shopping and if you travel outside the town towards the west there is an old Spanish fortress which is worth a visit. 8 km to the east of Chuy are a cluster of beaches that form the Barra Del Chuy resort which is popular with bathers.
Piriapolis is a small beach town between Montevideo and Punta Del Este. Piriapolis pre-dates Punta De Este but is less populated with a more laid back atmosphere. As a beach resort, it is active between December and March. The town has many attractions such as Pirias Castle and the natural reserve of native South America, Fauna. Much is centred on and around the Rambla de los Argentinos waterfront promenade whilst many bars, restaurants and hotels are dotted throughout the resorts and town centre.