THE TIME FOR INVESTING
What to invest in during 2026?
Expert Opinion from Uruguay Smart Estate.
Expert Opinion from Uruguay Smart Estate.
The year 2025 showed that nearly all major investment instruments went through periods of growth, corrections, and risk re-pricing. As a result, when choosing a strategy for 2026, it is important to focus not on past returns, but on the resilience of assets in a rapidly changing world.
Yury Sazonov
Uruguay Smart Estate Expert
Precious Metals
2025 was a record-breaking year for precious metals: all of them delivered double-digit (and in some cases triple-digit) percentage gains, reaching new all-time highs. For example, gold broke through the $4,500–4,600 per ounce level, posting an annual gain of about 70–72% (the strongest yearly increase since 1979). Silver reached $77–79 per ounce, rising 140–169% over the year—record levels and the best performance among all precious metals.
The price surge was driven by several factors: geopolitical tensions and the search for safe-haven assets, interest rate cuts by central banks, and strong industrial demand. Precious metals are widely used in automotive catalysts, electronics, and green energy, which has led to supply shortages—especially in platinum and silver.
Another important consideration when purchasing physical bullion is low liquidity, storage difficulties, capital gains taxes upon sale, and increasing complications when exporting bullion across borders.
Investments in unallocated metal accounts can also be risky, as they are essentially a form of bank deposit.
If you are considering investing, keep in mind the high volatility: prices are already at peak levels, and sharp corrections are possible.
2025 was a record-breaking year for precious metals: all of them delivered double-digit (and in some cases triple-digit) percentage gains, reaching new all-time highs. For example, gold broke through the $4,500–4,600 per ounce level, posting an annual gain of about 70–72% (the strongest yearly increase since 1979). Silver reached $77–79 per ounce, rising 140–169% over the year—record levels and the best performance among all precious metals.
The price surge was driven by several factors: geopolitical tensions and the search for safe-haven assets, interest rate cuts by central banks, and strong industrial demand. Precious metals are widely used in automotive catalysts, electronics, and green energy, which has led to supply shortages—especially in platinum and silver.
Another important consideration when purchasing physical bullion is low liquidity, storage difficulties, capital gains taxes upon sale, and increasing complications when exporting bullion across borders.
Investments in unallocated metal accounts can also be risky, as they are essentially a form of bank deposit.
If you are considering investing, keep in mind the high volatility: prices are already at peak levels, and sharp corrections are possible.
Bitcoin and Cryptocurrencies
In 2025, the cryptocurrency market showed mixed performance: a strong start with new all-time highs (USD 126,000 in October 2025), followed by a disappointing end to the year due to corrections and macroeconomic factors. By late December, Bitcoin was trading in the USD 87,000–88,000 range. As a result, many investors who entered the market at the peak hype were forced to lock in losses.
Many major altcoins delivered flat or negative annual returns despite ongoing development and progress within their ecosystems.
In 2025, the cryptocurrency market showed mixed performance: a strong start with new all-time highs (USD 126,000 in October 2025), followed by a disappointing end to the year due to corrections and macroeconomic factors. By late December, Bitcoin was trading in the USD 87,000–88,000 range. As a result, many investors who entered the market at the peak hype were forced to lock in losses.
Many major altcoins delivered flat or negative annual returns despite ongoing development and progress within their ecosystems.
Stocks
The year 2025 was highly successful for global equity markets, especially in the United States. Stock indices repeatedly reached new all-time highs, delivering a third consecutive year of double-digit growth. U.S. equities, in particular, were among the best-performing assets of the year, driven by the artificial intelligence boom, Federal Reserve rate cuts, and resilient economic growth.
The key question is how prepared you are, under current conditions, to accept the risks and complexities associated with sanctions-related restrictions.
The year 2025 was highly successful for global equity markets, especially in the United States. Stock indices repeatedly reached new all-time highs, delivering a third consecutive year of double-digit growth. U.S. equities, in particular, were among the best-performing assets of the year, driven by the artificial intelligence boom, Federal Reserve rate cuts, and resilient economic growth.
The key question is how prepared you are, under current conditions, to accept the risks and complexities associated with sanctions-related restrictions.
Antiques, Art, and Collectibles
These assets require a high level of expertise on your part—and no small amount of luck. Prices in this market are highly dependent on tastes and trends. Moreover, to sell the next Klimt at a record price, you first had to buy it well in advance.
These assets require a high level of expertise on your part—and no small amount of luck. Prices in this market are highly dependent on tastes and trends. Moreover, to sell the next Klimt at a record price, you first had to buy it well in advance.
Real Estate
Investments in real estate (residential, commercial, or via funds) are often considered one of the most reliable ways to preserve and grow capital, especially over the long term. In 2025, according to surveys (such as Gallup in the U.S.), real estate was once again named the best long-term investment by many investors—for the 12th year in a row.
According to Uruguay’s National Institute of Statistics (INE), in the second quarter of 2025 the average price of new homes nationwide rose by 5.88% year over year, reaching approximately 90,000 Uruguayan pesos (about USD 2,244) per square meter.
In coastal areas—especially in Punta del Este (the luxury segment)—prices increased by 8–12% year over year. Market activity was high, with total transaction volume reaching record levels of more than USD 1.17 billion in the first half of 2025. Final figures will be available shortly.
Price growth was moderate, with no signs of a “bubble.” The market remains balanced, with strong liquidity.
Some experts noted temporary slowdowns in mid-year due to interest rates, but overall, 2025 ended on a positive note: strong momentum in sales, rentals, and investment activity.
Investments in real estate (residential, commercial, or via funds) are often considered one of the most reliable ways to preserve and grow capital, especially over the long term. In 2025, according to surveys (such as Gallup in the U.S.), real estate was once again named the best long-term investment by many investors—for the 12th year in a row.
According to Uruguay’s National Institute of Statistics (INE), in the second quarter of 2025 the average price of new homes nationwide rose by 5.88% year over year, reaching approximately 90,000 Uruguayan pesos (about USD 2,244) per square meter.
In coastal areas—especially in Punta del Este (the luxury segment)—prices increased by 8–12% year over year. Market activity was high, with total transaction volume reaching record levels of more than USD 1.17 billion in the first half of 2025. Final figures will be available shortly.
Price growth was moderate, with no signs of a “bubble.” The market remains balanced, with strong liquidity.
Some experts noted temporary slowdowns in mid-year due to interest rates, but overall, 2025 ended on a positive note: strong momentum in sales, rentals, and investment activity.
!
Advice from USE
2025 was a strong year for investment in Uruguayan real estate, marked by steady price growth, attractive returns, and a high level of reliability compared to neighboring countries. If you are planning a purchase, it is always advisable to obtain up-to-date information from local agencies, as conditions in premium segments can change quickly.
2025 was a strong year for investment in Uruguayan real estate, marked by steady price growth, attractive returns, and a high level of reliability compared to neighboring countries. If you are planning a purchase, it is always advisable to obtain up-to-date information from local agencies, as conditions in premium segments can change quickly.