Colonia Uruguay Real Estate Investing in Uruguay
Considering that Uruguay is one of the two countries with the lowest crime rates in all of Latin America, it is not difficult to draw the conclusion that Colonia could be the safest place in Latin America. And that is exactly what Argentines look for in Colonia.
According to information from the Argentine consulate in Colonia and from real estate firms in this area, there are some 700 Argentine families based in the city of Colonia. This number jumps to about 1,500 families when including the surrounding areas, and up to a whopping 2,000 families if counting the numbers of the local spa, Santa Ana, and the country club, Carmelo.
A large portion of the real estate agents located in the Historic Quarter are Argentine, and the majority of the restaurants and cafes in the Historic Quarter belong to Argentines, or come from Argentine companies. Along the coastal strip of the Department of Colonia, almost all the country lots that border on the Río de la Plata are property of Argentines.
Colonia real estate appeals to Argentines because of the warmth of the people, the tranquility of the location, even the quality of the public education, the proximity to Buenos Aires, and, above all, the security. There may be a shortage of cinemas, shows, pizzerias, and nightclubs, but the sense of safety is worth it.
A few years ago, real estate developers began some projects there, becoming higher and higher quality, whose buyers where almost exclusively Argentine investors. This additional tie has probably accelerated the process of Argentines relocating to Colonia.
If the figures reported by local operators are correct, 5% of all homes in Colonia belong to Argentines. But currently, there are projects that involve hundreds of new homes, all in different locations, whose final buyers will be almost all Argentine.
An academic study in Buenos Aires recently revealed that more than two million people reside in emergency villas in the province of Buenos Aires; this informal urban growth is something that is thought to be behind the constantly growing crime rate in Greater Buenos Aires.
In Colonia, however, the crime rate continues in the single digits, and the levels of security are between 15 and 20 times higher than in the city of Buenos Aires. Colonia has become a sort of species of Nordelta, and continues to be some sort of part of the urban expansion of Buenos Aires. Nordelta is a new urban development that has seen extreme success in Argentina. It is 1,600 hectares on the delta, in Tigre, just 28 kilometers from Capital Federal, where the Constatini firm has created a city-town.
This community has 4 schools, 12 restaurants, and a medical center with 80 specialists, and some 2,500 homes with permanent residents. If we compare, Colonia shows hardly 20% fewer homes occupied by Argentines than Nordelta. Colonia is a refuge, close to Capital Federal, and gives a privileged characteristic to those who live there.
One thing that the Argentines who already live there have understood, is that they don’t want Colonia to develop too much, and lose the charm and security which brought them there in the first place.
Go back to Argentina Real Estate News:
Argentina Real Estate Trusts - Investments in Construction at Cost in Argentina
Property Prices are predicted to increase by 20% in 2011
BUENOS AIRES HABITAT a pioneer of the extended stay hotel-style apartment concept in Buenos Aires. Offers luxurious furnished apartments in Buenos Aires for temporary rent as an alternative to high-class hotels. Whether your visit is for a few days or a few months, for vacation or business trip, we will make your Buenos Aires experience memorable. All of our Buenos Aires apartments offer high-speed internet access, cable TV and housekeeping service.
