Uruguay may not have quite made it to the finals in the World Cup, but the country is certainly looking like a champ on the economic side. With strong, sustainable economic growth—without a lot of froth in the mix—Uruguay is looking like a model nation right now.

International Living has been hyping the country for quite a while as a good property investment, with one of the editors there putting his money where his mouth is and taking up residence. Adding more confirmation that this is a real estate market on the rise is this article from InvestBA: Maldonado construction reaches new heights.

If the current pace continues the rest of the year, construction permits will be up more than 14% in the seaside Maldonado state, which includes popular Punta del Este as well as José Ignacio. In essence, a pattern is playing out we’ve seen over and over around the world: once one beach area gets too popular and prices get too high, construction fans out to other points beyond. In this case, it keeps moving north to other beaches.

Is this a good time to get in? I’m no Uruguay expert, but for now it looks like a relatively safe bet if you want beachfront property (or close to it) in a stable part of South America with good infrastructure and government.

When you’re ready to check out the region, see our reviews of the best hotels in Uruguay.