Any piece of undeveloped property within the Republica Oriental del Uruguay steadily and inexorably appreciates.
The Atlantic Coastline (Maldonado, and Rocha) of vast sandy dunes and deserted beaches is already subdivided in a string of small towns and suburbs which remain mostly undeveloped. Much of that property is intentionally not developed and not on sale as Uruguay’s Solid Institutions including its Land Registry coupled with old timey Swiss-style privacy standards in banking make these minimially-taxed sandy blue chips a tried and true way to keep and increase your assets.
Eventually you may decide to sell some land or develop it into a vacation home.
Foreign Tourists, Residents, and Citizens are all treated equally under the law, both officially and culturally.