Holiday Rentals News - Uruguay is hot investment destination for 2008

Uruguay is hot investment destination for 2008

It may not register on everyone's list of investment hotspots yet, but Uruguay is rapidly growing in popularity.

April figures from The Move Channel rank the Sheraton Golf Plots as the fifth most enquired about development worldwide, while interest in Uruguay pushed it from out of nowhere to become the 21st-most enquired about country that month.

Squeezed between Latin American giants Argentina and Brazil, it would be easy to overlook Uruguay. Indeed, the most that many people know of the country is that it won the first ever World Cup in 1930, and then repeated the feat in 1950.

However, with more and more property investors eyeing big capital gains and high rental yields in South America, Uruguay is quietly staking its claim.

The capital, Montevideo, is particularly attractive at the moment, with considerable business investment in the city.

Last month, Global Property Guide reported that there is a shortage of rental units in the city, meaning that yields for rental property are very high (from 6.5 per cent to 11.4 per cent).

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