Uruguay leads the Latin dance

Brazil move over. Chic little Uruguay is attracting serious investment from locals and foreigners, says EM Concepts. Londoner Steven Chew had the perfect plan. Leave the big smoke. Move to Brazil. Set up a business running bespoke tours of Latin America.

For the last fourteen years, Steven has divided his time between bases in Rio, Buenos Aires and Venezuela. But its Uruguay's stunning coastline which has seduced Steven. He has recently purchased a house not far from the South America's style capital, Punta del Este.

'There has never been a better time to look to Uruguay both for property investment and for a second home. South America's smallest and safest nation has enlightened property ownership and tax laws that makes buying property much simpler than many other destinations in the hemisphere.'

'Private and corporate investors have been flooding in the last few years and much of the first string of super-chic developments have happened along the coast with the likes of the Setai and Fasano Hotel groups committing to projects while many other big hotel names are searching for sites further inland.'

Steven knows the travel business inside out, having learned the ropes at Cazenove + Lloyd. He founded, Azul Latin America, which specializes in bespoke tours. He is also contributing editor to Conde Nast Traveller.

 'The summer season is busier than ever with a host of new restaurants and small hotels that have opened their doors in the last year or so and a rash of high profile celebrity guests, which is great news for home owners as the competition for summer rentals – usually offered by the month – is stiff and prices have never been higher.'

'Uruguay is booming and it doesn't look like slowing down any time soon.' He adds.

European buyers looking to get in early can do so in nearby Sugar Loaf Ocean Club and Spa in Piriapolis, via London based EM Concepts.

Set back from the white sand beaches, Sugar Loaf's detached homes offer 360 degree views of surrounding countryside and ocean. Prices start at £89,000 for 2, 3 and 4 bedroom villas on quarter acre plots.

"Sugar Loaf offers luxurious accommodation for the South American market, with all the finishing touches, including infinity pools, restaurants, spa centre and helipad" says Paul Bartlett, director of EM Concepts.

"Plus the onsite rental management company will ensure your property is maintained while earning a healthy return" he adds.

Fact Box

• Reverse seasons make Uruguay an ideal winter escape for Europeans.
• Foreigners and residents can invest freely with secure land registry titles. There are no restrictions on ownership of private property or business.
• Benign income and wealth tax laws make it an ideal retirement destination.
• Montevideo, the capital is the home of sensuous tango.