Buying Property in Uruguay

Buying as a Foreigner

You do not need Uruguayan citizenship or residency to purchase property in Uruguay. International buyers can acquire real estate directly, and the process can in certain circumstances also be completed through a properly executed power of attorney if you cannot be in Uruguay for every stage of the transaction.

An escribano plays an important role in the purchase process. Although often translated as a notary, the role is broader than many international buyers might associate with that word. Your escribano verifies the property's title and legal status, prepares the necessary documentation and formalizes the transfer of ownership.

This gives international buyers a clearly established legal process for acquiring and registering property.

Understanding the Costs

In addition to the purchase price, buyers should budget for the costs associated with completing the transaction.

The customary real estate commission charged to a buyer is generally 3% of the purchase price plus 22% VAT on the commission. There are also notarial fees, taxes and registration expenses associated with the purchase.

Because every transaction is different, I always recommend confirming the complete costs with your escribano before purchasing.

Beginning your Search

THERE IS NO MLS IN URUGUAY

This is one of the biggest differences between the Uruguayan and US real estate markets.

Uruguay does not have a centralized Multiple Listing Service (MLS) where agents can search virtually the entire market through one shared professional database.

Instead, individual agencies and agents maintain their own portfolios. An owner may also give the same property to several different agencies, meaning the same home can appear on multiple websites — sometimes with different photographs, descriptions or even asking prices.

This can make the market appear much larger online than it really is.

Fortunately, agencies here frequently cooperate. If the property that best suits a buyer is represented by another brokerage, a well-connected agent can contact that broker, arrange a viewing and, where appropriate, work together on the transaction.

FINDING AN AGENT

International buyers sometimes arrive in Uruguay and contact numerous agencies, believing they need to visit each one to see its individual inventory.

In practice, this can quickly become confusing.

There may be considerable overlap between the properties different agents are offering, and you may find yourself repeatedly explaining the same requirements — or even being shown the same property by different brokers.

A much simpler approach is to establish a relationship with one agent you trust.

A good agent isn't limited to showing you only the properties represented by their own company. If the right property is listed elsewhere, they can approach the representing broker and work with them.

This allows your agent to concentrate on your search rather than simply their inventory.

It also means you only need to explain your priorities once. And those priorities often go well beyond price, bedrooms and square meters. The better your agent understands how you actually want to live, the more focused the search becomes.

NOT EVERYTHING IS ONLINE

This becomes particularly important at the upper end of the Uruguayan market.

Not every owner who would consider selling wants their property publicly advertised.

Some prefer not to have photographs of their home online. Others don't want neighbors, employees or the wider market to know that they are considering a sale. And occasionally an owner isn't actively marketing at all but would consider the right offer.

These properties are often referred to as off-market, pocket or private listings.

For buyers looking for exceptional homes, country estates, larger parcels of land or particularly private properties, this quieter part of the market can be important.

It also means that browsing the major property portals will never necessarily show you everything that is available.