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As of September 2025, the median house price in Montevideo ranges between $167,000 and $180,000 for standard family homes and apartments.
Property prices vary significantly across neighborhoods, with prime areas like Carrasco commanding $4,260 per square meter while budget-friendly districts like Las Acacias start at just $750 per square meter. The Montevideo residential market has shown steady growth of 3-5% annually, making it an attractive destination for both investors and homebuyers seeking stable returns in South America.
If you want to go deeper, you can check our pack of documents related to the real estate market in Uruguay, based on reliable facts and data, not opinions or rumors.
The Montevideo property market offers diverse options from budget-friendly apartments starting at $80,000 to luxury penthouses exceeding $500,000.
Prime neighborhoods like Carrasco and Punta Carretas command premium prices of $4,000+ per square meter, while emerging areas like Malvín offer excellent value with strong growth potential.
| Property Type | Average Price Range | Price per Sqm |
|---|---|---|
| Studio Apartments | $80,000 - $100,000 | $2,800 - $3,500 |
| 2-Bedroom Apartments | $180,000 - $250,000 | $3,500 - $4,000 |
| Standard Houses | $170,000 - $300,000 | $2,420 - $3,500 |
| Luxury Properties | $500,000+ | $4,260+ |
| Budget Properties | $80,000 - $120,000 | $750 - $875 |
| New Construction | $150,000 - $400,000 | $2,038 (average) |
| Prime Neighborhood | $300,000 - $1,000,000+ | $4,000 - $4,260 |
What's the current average house price in Montevideo?
The median house price in Montevideo currently sits between $167,000 and $180,000 for standard family apartments and houses as of September 2025.
This price range represents the middle ground of the Montevideo residential market, covering typical two to three-bedroom properties in established neighborhoods. The citywide average price per square meter ranges from $2,420 to $3,500, depending on location and property condition.
Prime neighborhoods like Carrasco, Punta Carretas, and Punta Gorda command significantly higher prices, with average costs reaching $3,500 to $4,260 per square meter. Meanwhile, budget-friendly areas such as Las Acacias and Peñarol offer entry points starting from $750 per square meter.
The Montevideo property market has shown consistent stability compared to other South American capitals, with moderate annual growth rates of 3-5% making it attractive for both local and international buyers.
These prices reflect the strong fundamentals of Uruguay's economy and Montevideo's position as a regional financial and cultural hub.
How do prices vary depending on the type of property, like apartments, houses, or luxury homes?
Property prices in Montevideo vary dramatically based on type, ranging from $80,000 studio apartments to luxury homes exceeding $1 million.
Entry-level studio apartments in central areas start around $80,000 to $100,000, making them accessible options for first-time buyers or investors. These properties typically measure 30-45 square meters and are located in neighborhoods like Centro or Tres Cruces.
Two-bedroom apartments in popular areas like Pocitos or Punta Carretas cost between $180,000 and $250,000. These properties offer 70-90 square meters of living space and often include amenities like parking spaces and building services.
Standard houses in central or eastern neighborhoods typically range from $170,000 to $300,000, depending on size, condition, and exact location. These properties usually feature 2-4 bedrooms, private gardens, and parking facilities.
Luxury homes represent the top tier of the market, with penthouses and beachfront villas in Carrasco or Punta Gorda starting at $500,000 and often exceeding $1 million for premium properties with exceptional features and locations.
What are the differences in prices across the main neighborhoods and districts?
Montevideo's neighborhood pricing follows a clear hierarchy, with coastal and established areas commanding premium prices while peripheral zones offer budget-friendly options.
| Neighborhood | Price per Sqm (USD) | Characteristics |
|---|---|---|
| Carrasco | $4,260 | Most exclusive area with large luxury houses |
| Punta Carretas/Punta Gorda | $4,000+ | Luxury apartments, proximity to Rambla waterfront |
| Pocitos/Malvín/Parque Rodó | $3,500 | Popular beachside neighborhoods with good amenities |
| La Blanqueada/Cordón | $2,950-$3,250 | Centrally located with good transport connections |
| Centro/Tres Cruces | $2,800 | Urban central business and residential districts |
| Las Acacias/Peñarol | $750-$875 | Entry-level and budget-friendly residential areas |
How much does surface area, like price per square meter, typically cost in different parts of the city?
Price per square meter in Montevideo varies significantly across districts, creating distinct pricing tiers that reflect neighborhood desirability and amenities.
Prime neighborhoods including Carrasco, Punta Carretas, and Punta Gorda command the highest prices at $4,000 to $4,260 per square meter. These areas offer luxury amenities, proximity to beaches, and established infrastructure that justifies premium pricing.
Popular residential zones like Pocitos, Malvín, and Parque Rodó average around $3,500 per square meter. These neighborhoods provide excellent quality of life with beach access, parks, shopping, and dining options while remaining more accessible than prime areas.
Central and mid-range neighborhoods such as La Blanqueada, Cordón, and Centro offer prices between $2,800 and $3,250 per square meter. These areas provide urban convenience with good transport links and established services.
Budget-friendly districts like Las Acacias, Peñarol, and Casavalle start from $750 per square meter, offering entry-level opportunities for buyers seeking affordable options or investment properties with potential for appreciation.
What is the total cost of purchasing, including fees, taxes, and other transaction expenses?
Total purchasing costs in Montevideo add approximately 7-10% to the property's purchase price, covering various fees, taxes, and transaction expenses.
Legal fees paid to notaries typically amount to about 3% of the purchase price plus IVA (value-added tax). These fees cover the legal documentation, property title verification, and official registration of the transaction.
Property transfer tax (ITP) represents 2% of the fiscal value, which is often below market value but still represents a significant cost. This tax is paid to the government and cannot be avoided in any property transaction.
Real estate agent commissions add another 3% plus IVA to the total cost. While this fee is sometimes negotiable, it's typically split between buyer and seller or paid entirely by the buyer depending on market conditions.
Additional costs include property registration fees, bank charges for international transfers, and potential survey or inspection costs, which can add another 1-2% to the total transaction value.
How does the average mortgage look right now in terms of rates, monthly payments, and accessibility?
Mortgage conditions in Montevideo as of September 2025 offer reasonable accessibility for both residents and foreign buyers, though terms vary significantly based on residency status.
Average mortgage rates currently range from 6-8% annually for foreign buyers, while Uruguayan residents often qualify for slightly lower rates. These rates are competitive compared to other South American markets and reflect Uruguay's economic stability.
Down payment requirements typically range from 20-30% of the property value, with banks requiring proof of stable income and assets. For a standard $180,000 property, buyers need to provide $36,000 to $54,000 upfront.
Monthly payments for a $180,000 property with a 20-year mortgage term and median rates of 7% would approximately range from $1,000 to $1,400 per month, depending on the down payment amount and exact interest rate negotiated.
Non-residents can access mortgages but face stricter requirements including proof of international income, additional documentation, and sometimes higher interest rates or larger down payment requirements compared to local buyers.
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What are example purchase prices for common property types in popular areas?
Specific property examples across Montevideo's popular neighborhoods demonstrate the range of options available to different budget levels and investment strategies.
Studio apartments in Ciudad Vieja or Centro typically cost between $80,000 and $100,000. These properties offer 30-40 square meters of living space and serve as excellent entry points for first-time buyers or rental investment opportunities.
Two-bedroom apartments in sought-after Pocitos or Parque Rodó range from $180,000 to $250,000. These properties usually feature 70-90 square meters, modern amenities, and proximity to beaches and entertainment districts.
Standard houses in Malvín typically cost between $250,000 and $400,000, offering 3-4 bedrooms, private gardens, and parking spaces. These properties appeal to families seeking suburban living with urban access.
Luxury penthouses in Carrasco start at $500,000 and can exceed $1 million for premium properties with panoramic views, private terraces, and high-end finishes in the city's most exclusive neighborhood.
Which neighborhoods are considered the most expensive, which ones are up-and-coming, and which are budget friendly?
Montevideo's neighborhood classification reveals distinct categories that help buyers identify opportunities matching their budget and investment strategy.
The most expensive neighborhoods include Carrasco, Punta Carretas, and Punta Gorda, where luxury properties, proximity to beaches, and established infrastructure command premium prices exceeding $4,000 per square meter.
Up-and-coming areas showing strong growth potential include Malvín, Ciudad Vieja, and Parque Rodó. These neighborhoods benefit from urban renewal projects, new developments, and increasing popularity among young professionals and investors.
Budget-friendly options for entry-level buyers include Las Acacias, Peñarol, Casavalle, Cerro, and La Teja. These areas offer affordable housing starting from $750 per square meter while providing potential for future appreciation as the city expands.
Mid-tier neighborhoods like La Blanqueada, Cordón, and Tres Cruces offer balanced options with good amenities, transport connections, and moderate pricing between $2,800 and $3,250 per square meter.
It's something we develop in our Uruguay property pack.
How have property prices changed compared to one year ago, and compared to five years ago?
Montevideo property prices have shown consistent upward momentum over both short-term and medium-term periods, reflecting the city's economic stability and growing international appeal.
Over the past year, citywide property prices have increased by 1-3%, with coastal and premium areas experiencing stronger growth of 3-7%. This growth rate demonstrates healthy market conditions without excessive speculation or bubble formation.
Premium neighborhoods like Carrasco and Punta Carretas have outperformed the general market with annual increases of 5-7%, driven by limited supply and continued demand from affluent buyers seeking luxury properties near the waterfront.
Looking at the five-year trend, Montevideo has maintained steady appreciation with average citywide growth of 2-4% annually. The pandemic temporarily slowed growth in 2020-2021, but the upward trend resumed strongly from 2022 through 2025.
Emerging neighborhoods have shown particularly strong performance over five years, with areas like Malvín and Ciudad Vieja experiencing cumulative growth of 15-25% as urban renewal projects and changing demographics drive demand.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Uruguay versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the forecasts for prices in Montevideo over the next 1, 5, and 10 years?
Property price forecasts for Montevideo indicate continued moderate growth supported by economic stability, infrastructure development, and increasing foreign investment interest.
One-year projections for 2025-2026 suggest annual growth of 3-5% citywide, with emerging and coastal districts potentially experiencing higher growth rates of 10-15% in particular hotspots where development and gentrification are accelerating.
Five-year forecasts indicate steady appreciation as Montevideo benefits from continued infrastructure investment, urban development projects, and Uruguay's reputation as a stable investment destination in Latin America.
Ten-year projections remain optimistic due to ongoing urban and coastal development initiatives, expected population growth, and Montevideo's emerging status as a regional hub for technology and finance sectors.
Premium neighborhoods are expected to maintain their value leadership, while up-and-coming areas like Malvín and Ciudad Vieja may offer the strongest appreciation potential as urban renewal projects mature and neighborhood character evolves.
What are the smartest choices right now if you're buying to live in, to rent out short-term or long-term, or to resell later at a higher price?
Strategic property choices in Montevideo depend heavily on investment objectives, with different neighborhoods and property types offering optimal returns for specific strategies.
For buyers planning to live in their property, Pocitos, Malvín, and Parque Rodó represent excellent choices offering good amenities, beach access, strong community feel, and reliable resale value when the time comes to sell.
Short-term rental investments perform best in tourist-oriented areas near the Rambla waterfront, particularly Ciudad Vieja and Pocitos, where gross rental yields of 4-6% are achievable with proper management and marketing to international visitors.
Long-term rental strategies should focus on Malvín, La Blanqueada, and Cordón, where steady tenant demand from professionals and families ensures consistent occupancy rates and reliable monthly income streams.
For resale appreciation potential, up-and-coming neighborhoods like Malvín, Ciudad Vieja, and Parque Rodó offer the strongest growth prospects, particularly new construction projects that will benefit from neighborhood development and gentrification trends.
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How do Montevideo's house prices compare with other big, similar cities internationally?
Montevideo's property prices position the city as an attractive value proposition compared to major South American capitals and international markets of similar size and quality of life.
Montevideo properties cost significantly less than comparable neighborhoods in Buenos Aires, Rio de Janeiro, or Santiago's premium districts, while offering superior political stability and economic predictability that international buyers increasingly value.
Compared to European cities like Madrid or international markets like Miami and New York, Montevideo offers dramatically lower entry costs while providing similar urban amenities, cultural richness, and coastal lifestyle benefits.
Within Latin America, Montevideo prices align with or slightly exceed other stable capitals like Quito or Lima, but the superior regulatory environment, property rights protection, and overall safety justify the modest premium for international investors.
The luxury segment in Montevideo remains far more accessible than established international destinations like Punta del Este, making it attractive for buyers seeking upscale properties without paying resort-destination premiums.
It's something we develop in our Uruguay property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Montevideo's property market in September 2025 offers compelling opportunities across all price segments, from budget-friendly apartments starting at $80,000 to luxury homes exceeding $500,000.
The combination of economic stability, moderate growth rates of 3-5% annually, and diverse neighborhood options makes Montevideo an attractive destination for both investors and residents seeking value in South America's real estate markets.
Sources
- The Latin Investor - Average House Price in Uruguay
- The Latin Investor - Montevideo Property
- The Latin Investor - Uruguay Price Forecasts
- The Latin Investor - Montevideo Price Forecasts
- Global Property Guide - Uruguay Price History
- Global Property Guide - Uruguay Home Price Trends
- ApartHotel - Uruguay Analysis
- Numbeo - Cost of Living in Montevideo