Front Elevation: Uruguay’s Eden
Punta del Este has become the Pearl of the Atlantic.
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HARVESTING THE PEARL OF THE ATLANTICBuying Property
Foreigners have the same rights as Uruguayans when purchasing
property in Punta del Este, and there are no restrictions on transferring
capital into or out of the country. Most real estate agents add a minimum of
3 percent to the selling price, but it is wise to add 5 percent to cover
notary fees, value-added tax (or VAT), legal fees, and other costs. Realtors can
connect buyers with notaries and attorneys to facilitate the purchasing process.
Vacation Homes
The second-home market is as hot as the condominium sector. In
Punta Ballena, just west of Punta del Este on the coast, buyers can expect to
pay upward of $1 million for a four-bedroom home with a swimming pool. A
four-bedroom beachfront property with expansive views and a large deck will cost
more than $3 million. Six-bedroom homes in Punta Piedras, the most exclusive
area of Punta del Este, are usually priced around $5 million.
Chacras
For those who want land but do not want to worry about
security, developments of petite ranches, or chacras, provide protection and services. El Quijote, a
gated community located on 1.2 miles of riverfront about 10 minutes inland from
the beaches of La Barra, offers 741 acres of common spaces. One-acre lots start
at approximately $100,000, and custom homes are priced at about $110 per square
foot. +598.94.33.9693 or 310.526.3737, www.elquijote.com.uy
Where to Stay While Looking for Property
Today, Punta del Este is home to more than 100 hotels—from
quaint boutiques to teeming resorts, such as the Conrad Hilton, which houses a
bustling casino and nearly 300 guest rooms. An Uruguayan version of the Setai,
Miami’s chicest resort, will soon open on the beach near José Ignacio with
thatch-roofed bungalows. The following boutique hotels also are recommended:
> La Posada del Faro is a 12-room hotel tucked into the dunes of José Ignacio. Rooms range from $150 to $450 per night at this hotel, which has hacienda-style architecture and a tranquil pool surrounded by wood cabanas and a waterside bar. +598.486.2110, www.posadadelfaro.com
> Set in the heart of Parque del Golf in Punta del Este, L’Auberge features French-inspired interiors in its 36 rooms. The intimate dining room offers exquisitely prepared meals in a romantic setting, and rooms range in price from $120 to $810 per night. +598.42.48.2601, www.laubergehotel.com
>
The Serena Hotel, with its Agua Spa,
is a Punta haven for beachside dining and relaxing. The 32 hotel rooms have
interiors that are fresh and inviting, and range from $130 to $420 per night.
+598.42.23.3441,
www.serenahotel.com.uy
> Hotel-Art Las Cumbres, a quaint hotel with traditional Uruguayan interiors, is perched on a summit with amazing views of Punta del Este and the coastline. The vistas can be enjoyed from a panoramic pool deck and from many of the 28 rooms, which are priced between $138 and $458 per night. +598.42.578689, www.cumbres.com.uy
Getting There
A list of travel options can be found at
www.visit-uruguay.com.
From December 15 to March 4, there are from six to 12 flights a day from
Aeroparque Jorge Newbery in Buenos Aires to the Laguna del Sauce International
Airport in Punta del Este. During the remainder of the year, flights are
limited, with one flight each weekday and from four to six flights during the
weekend. Car and limousine rentals are easy to arrange inside the airport, where
most American car-rental companies have an outlet.
