Country residence by Carolina Proto of Estudio Obra Prima
Author: Erin Boisson Aries, Global Luxury Real Estate Advisor, Douglas Elliman-Knight Frank
Between the Uruguayan countryside and the South Atlantic Ocean lies Punta del Este, a vibrant coastal city unlike any other. A cosmopolitan culture, magnificent beaches, vast nature reserves, a progressive and safe community and a robust economy close to the capital, Montevideo. Punta del Este is the ideal location in the heart of Latin America’s most favorable tax haven – and the world is taking notice.
No longer just a second home market for wealthy Brazilians and Argentines, Punta del Este is seeing an influx of Americans and Europeans looking for a place to activate their wealth, a “plan B.” or geopolitical cover in an uncertain world. The Uruguayan government makes it easy and attractive. Expats can apply for tax residency for just 60 days in Uruguay if they purchase a property worth $480,000, compared to 183 days in Florida. If you invest $2.6 million, there are no residency requirements. The benefits are immense: no tax on foreign investment income for 11 years. And there are incredible opportunities to take advantage of the favorable tax climate, from technology to real estate.
Uruguay’s economy is at the start of a boom. It is the world’s third largest exporter of software per capita. Thousands of start-ups have recently launched. Big venture capital firms like Andreessen Horowitz are investing billions. Google has invested $850 million in a new data center in Montevideo, where IBM and Microsoft have also set up offices. Netflix is doubling its efforts in film production. The sustainable agriculture sector is also growing. This is just the tip of the iceberg.
All of these economic conditions and more are simultaneously putting Punta del Este on the map for discerning real estate audiences. And they only have one address in mind: Fasano Las Piedras.
At the heart of this iconic destination is a hotel designed by Pritzker Prize-winning architect Isay Weinfeld. Fasano Las Piedras also has a private airport, five restaurants, Arnold Palmer golf course, tennis courts, exquisite spa, organic gardens, private beach access, a world-renowned equestrian center, a polo field by Nacho Figueras and now an exclusive collection of designer residences – private homes set among rolling green hills, winding along the coastal landscape.
Luxury real estate
For the homes, brilliant architect Carolina Proto of Estudio Obra Prima developed four distinct design concepts, ranging from one to nine bedrooms and built on plots of three to 15 acres. Expanding on Weinfeld’s vision for the first phase of Fasano Las Piedras, Proto now showcases the most exquisite private homes in the area.
The country residence measures 6,500 square feet and includes five suites, a staff room, a home office and a large swimming pool with an outdoor dining area.
Uruguay’s economy is at the start of a boom
The Polo House, designed in consultation with Nacho Figueras and located adjacent to the world-famous polo field and golf course, is available in two configurations: a 4,700 square foot residence including three suites and a 6,500 foot residence square comprising five-suite residences, both with a staff room and an expansive wraparound terrace with a personalized parrilla dining area, barbecue and large private swimming pool.
The Farm House is inspired by traditional Uruguayan country estates, spanning 17,000 square feet with seven suites, two staff bedrooms and a swimming pool. Four of these custom turnkey homes can be built on a range of lots from one to 15 acres.
These residences were designed for today’s global citizens who value ease, who demand discretion and the highest level of service, who desire more than a tax haven; they want the best quality of life. Buyers can customize the size and design of their home to suit their unique lifestyle.
In a serene location at the epicenter of Uruguay’s economic boom, Fasano Las Piedras currently represents the most attractive branded residential offering in Latin America. With prices starting at around $2.6 million, it’s still a value play compared to other name-brand destinations in Mexico and Costa Rica, none of which are comparable in terms of taxation advantageous.
As Douglas Elliman-Knight Frank’s global expert on branded residences, I am thrilled to represent Fasano Las Piedras. Please visit fasanolaspiedras.erinboissonaries.com for more information.