Buying land and developing it for resale is a lucrative and fast way to earn money. Yet, remember that to avoid the associated pitfalls, a functional strategy is a must. You need to know the ins and outs of local laws and trends that affect the land market. To be sure you’ll hit the mark, first analyze it and your goals carefully. Recommendations from professionals with experience and knowledge in this field are also not a bad idea.
The Uruguayan land market might be a draw for you if you are interested in buying land for farming or development purposes in a jurisdiction, where taxes are low, bureaucracy is simple, and becoming a resident doesn’t require you to perform a feat. Uruguay boasts clear and attractive tax laws for foreign investors. To obtain residency in Uruguay, you will certainly have to follow certain procedures but these are straightforward and reasonable. Another perk of buying land in Uruguay is that the local land market is drawing more and more global investors.
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The advantages and opportunities that come with buying a land plot in Uruguay are promising:
Below, we will throw some light on the difficulties that foreigners may encounter when they want to buy land in Uruguay. We will also provide some tips on how to deal with these difficulties and make the procedure smoother so that you won’t have to move mountains to overcome any potential hurdles.
One of the main challenges you’ll encounter is finding the land that would be a perfect match for your needs. Diverse and competitive, the Uruguayan land market offers land plots of all types and sizes.
Rural land: Used for agricultural or livestock purposes, rural land varies in size, quality, location, and price. How much you’ll eventually pay depends on the soil, water, infrastructure, and accessibility of your land plot. Rural land is a good purchase option for foreigners who want to invest and farm in Uruguay.
Urban land: In Uruguay, you will find land plots for sale in urban or suburban areas. Feel free to use them for residential or commercial purposes.
Coastal land: Sitting near beaches, hills, or islands, coastal land parcels are oftentimes used for residential or recreational purposes. Interested investors acquire them to build cottages, resorts, or even hotels.
To find the right land plot for your needs and budget, simply follow these steps:
The purchase price and terms are not fixed or uniform when you buy land in Uruguay. They depend on the characteristics and location of your land plot, market supply and demand, the seller’s expectations, as well as economic and tax conditions in the country. To reach an agreement that suits both parties, the buyer and the seller, or their representatives, should negotiate both the price and the of the deal.
Here’s what you should do to achieve success:
In Uruguay, land purchase and registration can take several weeks or months. Ultimately, it all depends on the case complexity and the availability of the parties involved. The procedure per se is a multistage process consisting of several steps:
You want to invest in a profitable asset, right? To make sure you don’t end up with a plot that nobody wants, consult a local expert who can analyze the listings with you. At International Wealth, we have partners who can do exactly this as they are professionals with rich experience in land sales and development in Uruguay. Together, we will help you find the best land plot to buy as well as a reliable and competent developer!
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