Uruguay is located in the temperate zone of the Southern Hemisphere and has four seasons. When it’s winter in North America and Europe, it’s summer in Uruguay. Temperatures average 70° F to 80° F (21° C to 27° C) in summer and 50° F to 60° F (10° C and 16° C) in winter. There are periods of “cold” (relative term) weather, but freezing temperatures are almost unknown. (However, the winter of 2007 was the coldest winter in four decades.) Uruguay’s climate is fairly uniform with the exception of the northwest part of the country which is often warmer and dryer. Rain occurs in all seasons but is generally heavier in fall.

The majority of Uruguay is rolling grassy plains, ideal for raising cattle and sheep. The soil and climate are also suitable for raising many types of crops including grains, citrus, wine grapes, and trees for pulp and lumber. Uruguay has hills, but no real mountains. The highest point in Uruguay is Cerro Catadral at 1,686 feet (514 meters).

The country has several rivers that power hydroelectric plants and provide fish habitat. Uruguay’s water routes, harbors, and proximity to Argentina and Brazil provide efficient international trade access. The eastern coast has 200 miles of wide sandy beaches, dunes, and large lagoons which are dotted with dozens of summer resort communities, including the continent’s premier resort, Punta del Este.

Uruguay (especially Punta del Este) is said to be one of the most tolerant places on earth. In Uruguay, people and relationships are generally more important than a schedule. Most Uruguayans are very friendly and ready to provide help when you ask for it.

Safety is the number one reason people from other South American countries relocate their families to Uruguay. Uruguay is known for having the lowest rate of crime in Latin America. For comparison, according to statistics taken from the United Nation’s World Development Indicators database covering the period 1998-2000, Uruguay’s overall per-capita crime rate was lower than the United Kingdom, the United States, Norway, France, and Switzerland. Uruguay does have robberies, but armed robberies and rates of assault are low. Petty thefts such as purse snatching and camera grabbing are not uncommon in Montevideo. Punta del Este has often been described as being crime free; however, over the last couple of years there have started to be increased incidents of home and car burglaries.

Uruguay’s Real Estate Industry

Uruguay has a very trustworthy and secure property registry system. You, as a foreigner, may purchase and own real property in Uruguay without any pre-authorization, special forms, or residency requirements. Holding title to property in Uruguay gives you full rights to perpetual ownership. Secured interests in real property and mortgages are actively enforced by law.

There is no formal training or testing required to become a real estate licensee in Uruguay. Real estate brokers are required to get a business license and register with the country’s department of tourism. Brokers practicing in Punta del Este and Colonia are also required to be bonded.

Among licensed agents there is a broad spectrum of experience, reputability, and specialties, which fortunately includes people who can effectively serve the real estate needs of English speakers in Uruguay’s growth markets.

In Uruguay, the buyer and seller each pays his own real estate company. I have observed commission rates of 3% from the seller to the listing office and 3% from the buyer to the company that represented him, for a total of 6%. If a party buys through the listing broker, that listing broker will usually collect both sides of the commission.

There are no formal multiple listing services in Uruguay, but there are real estate websites that display the listings of many real estate companies.

Like most of Latin America, there is no reliable government or industry source for up-to-date market information and sales data. Developers and groups of brokers may hire research companies to collect and compile data for their industry, but the data will rarely be made public.

Written legal contracts are in Spanish. Supporting documents from a foreign buyer’s home country (such as divorce papers) must be authenticated by the Uruguayan Consulate in that country and then translated into Spanish by a licensed public translator. Contracts in Uruguay tend to be short with few contingencies.

A listing agreement is often a verbal agreement between a property owner and a real estate agent. Negotiations between a buyer and seller are usually made verbally and put in writing when the parties have come to an agreement.

In the recent past, Uruguay was a cash-based society and most all real estate purchases were paid in cash. However, this has now changed, with new laws making banks and escribanos responsible for verifying the source of a buyer’s purchase funds. The norm nowadays is for the outstanding balance of the purchase price to be paid by a bank draft, with only minor disbursements paid in cash.

Many escribanos and attorneys will provide the use of a business account for the collection and distribution of purchase funds, taxes, and commissions. They will distribute funds on behalf of the buyer at closure.

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