May 15, 2020 Real Estate Investing Gains Ground in South America

Developments such as Las Cárcavas, in Uruguay, stand out with their environmentally friendly location in a luxury, beach-front corridor.

By Fernanda Prece, Commercial Director at Las Cárcavas

The eruption of COVID-19 onto the global stage has caused innumerable transformations in all areas of the economy, which now face an uncertain future. But it has also ignited new challenges. No stranger to these changes, the real estate market is also experiencing fluctuations.

While owning property has traditionally been a valued form of savings in the midst of global and regional crises, there is now another phenomenon that is paving the way for new opportunities within this sector. Social isolation has also modified the preferences and habits of people who, across the board, are now looking more than ever for contact with nature – an asset that has become a highly sought after characteristic.

Along this line, developments in green, open spaces, with wide-open surroundings, both remote and sustainable, have started to become more and more attractive within the real estate market. And though both investors and developers are still being cautious, in this context luxury real estate developments with these characteristics have become an attractive and secure option for foreign investors.

Located in Uruguay, along the Rocha coast in Garzón – a fifteen-minute drive from José Ignacio, which has become the most exclusive area in Punta del Este – the high end real estate development Las Cárcavas is a clear example of this trend. Las Cárcavas gets its name from the rock formations generated from the rain water erosion as it flows to the sea, a typical feature of Garzón’s coastal landscape.

Unique in its style, it boasts twenty-four ranch lots and space for sixteen bungalows, all distributed on just over 128 acres situated on a UNESCO national biosphere reservation. The development offers access to 250 meters of exclusive beach front with warm water, thanks to the tropical currents coming from Brazil, as well as luxurious amenities: a swimming pool, beach club on the shore of a lagoon, natural grass tennis court, grill area, fire pit and corrals.

The project ideals are based on sustainability and a strict commitment to the environment. Therefore, and in regards to design, the ranches follow certain pre-established architectural guidelines in order to preserve the spirit of the natural landscape. In line with the overall vision, Englishman John Brookes, in collaboration with the Barzi Casares studio, has been commissioned to helm the landscape design for the open and communal spaces of the project; both highly respected names in the international market for their avant-garde and innovative work, in-sync with environmental protection.

Another unique advantage of the project is its strategic location. Besides offering political, social and economic stability, Uruguay offers fiscal advantages through recently announced tax incentives, many of which are aimed at the foreign investor.

Fernanda Prece

Fernanda Prece has extensive experience in Real Estate and Business developments in Latin America that includes Marketing & Sale. Since October 2019 she has been in charge of the commercial team at Las Cárcavas. She can be contacted at fernandaprece@lascarcavas.com

Subscribe to Industry Today