In this week’s Your Overseas Dream Home Digest…
- A Short Detour Through Amsterdam
- VIDEO: My Uruguay Lawyer on Residency, Taxes, and Buying Property
- WATCH: Where I’d Buy a Beach Home of My Own
- VIDEO: The Opportunity a Few Blocks From $18 Million Condos
- Your Questions Answered on Safety in Uruguay
Greetings from Cork, Ireland…
I’m back after a two-week scouting trip of Panama and Uruguay. Putting boots on the ground like this is how my team and I find incredible real estate opportunities before the crowds.
In Panama, I was back on familiar ground. I recently brought members of my Real Estate Trend Alert (RETA) group an exclusive, off-market opportunity in the Ipanema community here.
Ipanema is a luxury three-tower development under construction on the waterfront beside Costa del Este, one of Panama City’s most prestigious neighborhoods.
I bought alongside members. The RETA price was $473,000. By my reckoning, the condo I bought is already worth in the region of $40,000 more than I paid, after a modest down payment and just a few weeks.
I visited the Ipanema site during my trip and the location is incredible…
Then, in Uruguay, I was searching for fresh opportunities—and testing a thesis. I wanted to see how much the resort city of Punta del Este had changed since my last visit and whether it has become less seasonal. I also wanted to look at what was happening in the smaller beach towns farther east.
In today’s digest, I’ll take you to two stops along that coast, including a beach town where I can see myself owning a home. I’ll also share an in-depth conversation with my go-to guy for advice on residency, tax and the buying process.
But first a short detour…
A Short Detour Through Amsterdam
On my way back to Ireland, I spent a few days in Amsterdam. On a walk along one of the canals, I spotted a house barely wider than its front door. Check out this photo I took …
It’s of Singel 166, one of the famous narrow houses facing Amsterdam’s canals. The façade is less than 6 feet wide.
What fascinates me about this house is not how narrow it is, but why it exists…
During the 17th-century Dutch Golden Age, property taxes were calculated based on the width of a building’s facade. To lower their tax bill, people built extremely slim canal frontages, while often making the back of the house much wider.
Today, these houses are a curiosity. But there’s an important lesson for us as investors.
Incentives matter.
They can reshape markets. The wrong ones distort. The right ones can unlock incredible opportunity.
And few countries understand this better than Uruguay…
VIDEO: My Uruguay Lawyer on Residency, Taxes, and Buying Property
I’ve been bullish on Uruguay for years. But after my recent trip, I’ve never been more excited by the scale of the opportunity there.
More people are coming…more investment…
Uruguay is reaching an inflection point.
To dig into what’s happening, I sat down with one of my longest-standing contacts in the country while I was on the ground, Juan Federico Fisher.
Juan is a lawyer and the managing partner of Andersen in Uruguay, a major global law and tax firm. For years, he’s been the man I turn to for information on residency, legal and tax matters in Uruguay.
In a wide-ranging chat, we covered where the biggest opportunities are emerging along Uruguay’s Atlantic coast…how incentives like its 11-year tax holiday and free trade zones really work…and why these incentives matter to you as an investor even if you never use them yourself.
There was a lot to unpack, so when you have 40 minutes free, grab a coffee, pull up a chair, and dig into our conversation.
My longtime legal contact in Uruguay, Juan Federico Fisher, joins me to discuss the country’s tax incentives, residency options, and emerging real estate opportunities.
WATCH: Where I’d Buy a Beach Home of My Own
I came to Uruguay to investigate opportunities near Punta del Este, the country’s premier beach resort.
My thesis was that this summer playground for wealthy Argentines and Brazilians is transforming into a year-round international luxury destination. And what I saw backs that up in spades.
But scouting farther along the coast brought me somewhere I’d like a beach home of my own…
La Pedrera is a small town in the Rocha department, about an hour and 45 minutes from Punta del Este.
Here, wooden boardwalks lead from homes straight onto the sand. Beyond them, wild Atlantic beaches stretch toward Brazil. And you can still buy right on the beach.
I recorded a video to show you what I saw—and explain why I’m interested.
VIDEO: The Opportunity a Few Blocks From $18 Million Condos
I can see myself owning a beach home in La Pedrera. Back in Punta del Este, I was looking at a different opportunity.
Before I left Uruguay, I stopped at the site of the new Cipriani resort, being built by the Italian family behind Harry’s Bar in Venice. Condos there have listed for as much as $18 million.
Along this coast, you’ll find plenty of multimillion-dollar mansions, branded residences, and playgrounds for the global wealthy.
But go four or five blocks inland and there are leafy streets and condos from $350,000 to $400,000—and they lie a short stroll from the same public beaches.
That’s where I see the best opportunities today…
In this video, I explain the group of buyers that I think is being overlooked in Punta del Este and what kind of home they’re looking for. I’ll also explain why this stretch of coast reminds me of Cabo in 2015.
Your Questions Answered
Have a comment for me or my team? A question about owning overseas? Share it here. I’d love to hear from you. Here’s a question I got from a reader recently…
Jean D. asks: Hello Ronan. Uruguay looks nice. But is it safe?
Ronan says: Hi Jean. Uruguay is widely acknowledged as one of the world’s great safe havens and it’s among the most secure countries in Latin America.
Uruguayan culture is often described as muy tranquilo (very calm). A big reason is that you find less economic disparity in Uruguay than in any other country in Latin America.
Every legal resident gets healthcare without the worry of debt. Every full-time worker is entitled to a benefits package that includes paid holidays, paid vacation time, and a retirement pension.
Wishing you a good real estate investing,
P.S. If you have a question about buying real estate overseas or have suggestions for destinations my team and I should put on our scouting list, drop me a line here.
