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Uco Valley, crowded by the development of wine villas

February 15, 2012 by Redacción | in Latest news, News

Wine villas in Argentina are still a business opportunity for investors, particularly foreigners, in search of a different lifestyle or who are tempted to gamble on real estate developments endowed with potential to increase their value in dollars.

In 2009, the hectare value of a “wine villa” in the Uco Valley was around USD 70,000 but this value practically was doubled when vineyards were under production.

In the Uco Valley is where the new developments were concentrated in the few past years. Burco America (Tupungato Winelands) is the largest one, boasting 800 hectares, of which 400 correspond to 150 parcels divided in 2,5-4,5 hectares each. Moreover, it has 140-half-hectare plots on golf courses, intended for building houses, at an average price of USD 150,000. Estates are priced from an average of USD 400,000.

Another newly developed project in Tupungato is Casa Palmero (only involves vineyards). It is adjacent to Salentein winery, having 35-year-old vineyards planted with Malbec, Cabernet Sauvignon, Merlot and Chardonnay, which belonged to Palmero family. This year, investors can make their own wines. The winery is under construction. Sothebys Realty firm is in charge of selling the plots of which 7 have already been sold. The average price per hectare amounts to USD 180,000.

The good news is that, in spite of the crisis, for someone investing USD 100 per hectare, owning a plot in a wine villa is profitable. This is the vision of the Italian businessman and owner of Villa Dolce Vita, Filippo Invernizzi: “The owner of the property stays here only 3 months and during the rest of the year, he or she lets out the house of 200 – 400 m2 (2152 – 4300 ft2) with all amenities (very well-paid), which is also supported by the grape sale.”

This project is extended on 75 hectares in the west of Tunuyán city -between Vistaflores and Los Sauces. In this land, there are 17 plots of high-end vineyards, which are sold at the average price of USD 100,000 per hectare.

On the other hand, Pablo Giménez Riili, together with Michael Evans and David Garrett, is owner and founding partner of The Vines Private Estate Vineyards, located in the Uco Valley, another wine villa and pioneer in Mendoza. The land value in this project went from USD 135 to 180 thousand in four years, and 97 out of 100 Private Vineyard Estates have already been sold. “Today, we are in an expansion stage, and we have already acquired over than 40 more hectares,” explained the businessman. “Beyond the crisis, there is a market targeted at luxury products. The economic situation has had a minimal impact on “The Vines”. In these times, when people analyze thoroughly their expenses, providing a high-quality service is crucial to have success. Moreover, our country has a great potential for investing in it,” he added.

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