Buying property in Punta del Este as a foreigner

Buying property in Punta del Este as a foreigner

Buying in Punta del Este from abroad

In Uruguay, foreigners can buy property with the same rights as Uruguayan citizens. You don't need residency, a local partner or special permits: your passport is enough.

Prices are listed and paid in US dollars. Every purchase goes through a public notary (escribano), who checks the property and protects both sides.

This guide explains the process, the costs and what happens after you buy, so you can decide with all the information before you travel.

The process, step by step

From reservation to deed usually takes 30 to 60 days.

1. Choose the property. We send you photos, videos and floor plans, and you can tour it by video call before you travel.
2. Make an offer. If the seller accepts, you sign a reservation agreement and leave a deposit. The property comes off the market while the checks are done.
3. The notary checks the title. They review the last 30 years of the property's history and confirm there are no debts, liens or unpaid taxes. The buyer usually chooses the notary.
4. Purchase agreement (if needed). If the deed can't be signed right away, you sign this agreement, pay part of the price and register it to protect you.
5. Deed. You pay the balance and sign before the notary. From that moment, the property is yours.
6. Registration. The notary registers the deed with the Property Registry and gives you the documents.

What it costs to buy

On top of the price, buyers should budget 7% to 9% for fees and taxes.

The cadastral value is set by the government and is usually lower than the sale price, so the transfer tax costs less than it looks.

Buying remotely and how to pay

You don't need to be in Uruguay to buy.

• Power of attorney. You sign a power of attorney before a notary in your country, apostilled and translated into Spanish, and someone you trust signs on your behalf.
• Payment. Usually by bank transfer at the signing of the deed. Large cash payments are limited by law.
• Source of funds. Anti-money-laundering laws require the notary and the agency to ask for documents showing where the money comes from, such as the sale of another property, savings or an inheritance. Having them ready from the start avoids delays.
• Financing. Uruguayan banks rarely lend to non-residents, so most foreign buyers pay in cash. For projects under construction, many developers accept payments in installments during the build.

After you buy

Yearly costs

• Property tax (contribución inmobiliaria): the municipal tax charged by the Maldonado local government.
• HOA fees (gastos comunes): for apartments, what the building charges for maintenance and services. Shown on every listing.
• Wealth tax (Impuesto al Patrimonio): paid by owners of assets in Uruguay above a minimum. Check the rate and minimum with an accountant.

Renting out your property

Punta del Este rents strongly in the summer season, from December to March. Non-residents pay the Non-Resident Income Tax (IRNR) on rental income. Parolin has a rentals team that can rent out your property while you're away.

Residency and tax benefits

Buying a property doesn't give you residency automatically, but it can help you get it.

• Legal residency: lets you live in Uruguay and get a Uruguayan ID card. You apply at the National Migration Office (Dirección Nacional de Migración).
• Tax residency through real estate investment: available by investing in a property above a minimum amount. We'll confirm the current amount and the days you need to spend in the country when you contact us.
• Tax benefit: new tax residents pay no tax on foreign dividends and interest for 11 years, or can choose a flat 7% rate instead of 12%.

Every case is different, so we recommend checking with an accountant. If you need one, we can recommend one.

How we help

Parolin Propiedades has worked in Punta del Este for over 20 years. We support you through the whole process: the search, video tours, negotiation, coordination with the notary and, if you wish, renting out your property.

• WhatsApp: +598 99 904 109
• Phone: +598 4249 0523
• Email: info@parolinpropiedades.com
• Office: Av. Chiverta, Playa Brava, Punta del Este