Authored by the expert who managed and guided the team behind the Uruguay Property Pack
Yes, the analysis of Montevideo's property market is included in our pack
This guide covers current housing prices in Montevideo, and we update it regularly to reflect the latest market data.
Whether you want to know about price per square meter, neighborhood comparisons, or what you can actually buy with your budget, you will find it all here.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Montevideo.
Insights
- The typical negotiation discount in Montevideo sits around 5%, meaning buyers can expect to pay roughly $9,500 less on a $190,000 apartment after some back-and-forth with the seller.
- Carrasco remains Montevideo's most expensive neighborhood at around $4,350 per square meter, nearly five times higher than Punta Rieles at just $900 per square meter.
- Small apartments in prime coastal areas actually command the highest price per square meter in Montevideo because the land premium gets concentrated into fewer square meters.
- New construction in Montevideo typically costs about 12% more than comparable older homes, mainly because buyers pay for modern amenities and lower maintenance risk.
- About 75% of Montevideo's residential listings are apartments, with houses making up only 20% of the market, reflecting the city's urban density.
- Montevideo property prices rose roughly 4% in USD terms over the past year, but when adjusted for local inflation, real gains were essentially flat.
- Over the past decade, Montevideo housing prices increased about 35% in USD, driven largely by sustained demand in the coastal corridor from Carrasco to Pocitos.
- Expats in Montevideo tend to concentrate in Pocitos, Punta Carretas, and Carrasco, where a typical two-bedroom apartment ranges from $230,000 to $600,000 depending on the neighborhood.
- Budget buyers can still enter Montevideo's market around $60,000 to $90,000 for a small studio or one-bedroom in central neighborhoods like Centro or Goes.
What is the average housing price in Montevideo in 2026?
The median housing price is more useful than the average because it shows what a typical buyer actually pays, without being skewed upward by a few very expensive luxury properties.
We are writing this as of the first half of 2026 using the latest data from Uruguay's official statistics office (INE), the national housing agency (ANV), and verified market indexes.
The median housing price in Montevideo in 2026 is approximately 7,060,000 UYU, which converts to around $175,000 or about 145,000 euros. The average housing price runs a bit higher at roughly 8,070,000 UYU, or about $200,000 (165,000 euros), because expensive coastal properties pull that number up.
About 80% of residential properties in Montevideo in 2026 fall within a price range of 3,630,000 to 14,120,000 UYU, or roughly $90,000 to $350,000.
A realistic entry point into Montevideo's property market in 2026 starts around 2,420,000 to 3,630,000 UYU ($60,000 to $90,000 or 50,000 to 74,000 euros), which could get you an older studio or small one-bedroom apartment of 30 to 40 square meters in central neighborhoods like Centro or Goes.
Luxury properties in Montevideo in 2026 typically range from 24,200,000 to 80,700,000 UYU ($600,000 to $2,000,000 or 496,000 to 1,650,000 euros), and at this level you are looking at newer high-end penthouses of 180 to 250 square meters in Carrasco or Punta Carretas with terraces, parking, and premium amenities.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Montevideo.
Are Montevideo property listing prices close to the actual sale price in 2026?
In Montevideo in 2026, closed sale prices typically come in about 5% below the original listing price.
This gap exists because most sellers in Montevideo build a negotiation buffer into their asking price, expecting counteroffers and longer marketing times. The discount tends to be larger for older properties needing renovation or those sitting on the market for several months, while newer promoted housing in high-demand coastal areas often sells closer to list price.
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What is the price per sq m or per sq ft for properties in Montevideo in 2026?
As of early 2026, the median housing price per square meter in Montevideo is approximately 100,875 UYU ($2,500 or 2,065 euros), while the average runs slightly higher at 108,945 UYU per square meter ($2,700 or 2,230 euros). In terms of price per square foot, that translates to a median of around 9,370 UYU ($232 or 192 euros) and an average of about 10,120 UYU ($251 or 207 euros).
Small apartments like studios and one-bedrooms in prime coastal neighborhoods have the highest price per square meter in Montevideo in 2026, because the land and location premium gets concentrated into fewer square meters, while large older houses in peripheral areas have the lowest because they are harder to resell and carry more maintenance uncertainty.
In Montevideo in 2026, Carrasco has the highest prices at around 175,500 UYU per square meter ($4,350), while Punta Rieles sits at the lowest end at roughly 36,400 UYU per square meter ($900). Other expensive neighborhoods include Villa Biarritz, Puerto Buceo, and Punta Carretas, while budget-friendly areas include Colón, Cerro, and Nuevo París.
How have property prices evolved in Montevideo?
Compared to one year ago, Montevideo property prices in 2026 are up about 4% in USD terms. This modest increase reflects stable demand in the coastal corridor and a market that is neither booming nor declining.
Looking back ten years to 2016, Montevideo housing prices have risen approximately 35% in USD terms. The main drivers have been sustained interest in desirable coastal neighborhoods like Carrasco, Pocitos, and Punta Carretas, along with a general improvement in building quality and amenities across the market.
By the way, we've written a blog article detailing the latest updates on property price variations in Montevideo.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Montevideo.
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.
How do prices vary by property type in Montevideo in 2026?
In Montevideo in 2026, apartments make up about 75% of listings, houses account for roughly 20%, and townhouses or duplexes represent the remaining 5%, which reflects the city's dense urban character and concentration of multi-family buildings.
Average prices by property type in Montevideo as of the first half of 2026 are approximately: studios at 4,640,000 UYU ($115,000 or 95,000 euros), one-bedroom apartments at 6,255,000 UYU ($155,000 or 128,000 euros), two-bedroom apartments at 8,470,000 UYU ($210,000 or 173,500 euros), three-bedroom apartments at 14,525,000 UYU ($360,000 or 297,400 euros), and typical family houses at around 12,910,000 UYU ($320,000 or 264,300 euros). High-end houses and penthouses start at roughly 36,315,000 UYU ($900,000 or 743,400 euros) and go up from there.
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Montevideo in 2026?
New construction in Montevideo in 2026 typically costs about 12% more per square meter than comparable older properties.
This premium exists because newer buildings come with modern amenities like secure parking, elevators, and efficient layouts, plus buyers face lower maintenance risk and more predictable costs in the first years of ownership.
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How do property prices vary by neighborhood in Montevideo in 2026?
Pocitos is one of the most popular neighborhoods in Montevideo, especially among expats and young professionals. Prices for a typical two-bedroom apartment of around 70 square meters range from 6,200,000 to 8,500,000 UYU ($155,000 to $210,000 or 128,000 to 173,500 euros) because of its walkable streets, proximity to the beach, and abundance of restaurants and services.
Carrasco is Montevideo's most expensive neighborhood, known for its tree-lined streets and large family homes. A quality property here starts around 10,500,000 UYU ($260,000) and can easily exceed 24,000,000 UYU ($600,000 or 495,000 euros) for larger houses, driven by its reputation as the city's premier residential address with top schools and a suburban feel.
Centro offers the most affordable entry point for buyers looking to get into Montevideo's market. Apartments here range from 4,200,000 to 5,900,000 UYU ($105,000 to $145,000 or 87,000 to 120,000 euros), reflecting the area's older building stock and its position as a commercial rather than residential hub.
You will find a much more detailed analysis by areas in our property pack about Montevideo. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Type | Avg Price Range | Avg per sqm | Avg per sqft |
|---|---|---|---|---|
| Carrasco | Luxury / Family | 10.5-14.1M UYU ($260k-$350k) | 141k-175k UYU ($3,500-$4,350) | 13.1k-16.3k UYU ($325-$404) |
| Punta Carretas | Luxury / Commute | 7.9-11M UYU ($195k-$273k) | 112k-157k UYU ($2,775-$3,500) | 10.4k-14.6k UYU ($258-$325) |
| Villa Biarritz | Premium | 9.5-11.3M UYU ($235k-$280k) | 151k-170k UYU ($3,750-$4,200) | 14k-15.8k UYU ($348-$390) |
| Puerto Buceo | Premium / Views | 9.4-11.3M UYU ($233k-$280k) | 151k-169k UYU ($3,750-$4,200) | 14k-15.7k UYU ($348-$390) |
| Pocitos | Popular / Expats | 6.2-8.5M UYU ($155k-$210k) | 91k-121k UYU ($2,250-$3,000) | 8.4k-11.3k UYU ($209-$279) |
| Parque Rodó | Lifestyle | 6.6-9.1M UYU ($165k-$225k) | 94k-129k UYU ($2,333-$3,200) | 8.8k-12k UYU ($217-$297) |
| Cordón | Commute / Value | 4.8-6.5M UYU ($120k-$160k) | 69k-93k UYU ($1,700-$2,300) | 6.4k-8.6k UYU ($158-$213) |
| Centro | Commute / Entry | 4.2-5.9M UYU ($105k-$145k) | 60k-85k UYU ($1,500-$2,100) | 5.6k-7.9k UYU ($139-$195) |
| Malvín | Family | 5.7-7.9M UYU ($140k-$195k) | 81k-112k UYU ($2,000-$2,775) | 7.5k-10.4k UYU ($186-$258) |
| Colón | Budget | 2.8-3.8M UYU ($70k-$95k) | 36k-48k UYU ($903-$1,200) | 3.4k-4.5k UYU ($84-$111) |
| Cerro | Budget | 3.2-4.1M UYU ($80k-$100k) | 40k-52k UYU ($1,000-$1,300) | 3.8k-4.8k UYU ($93-$121) |
| Punta Rieles | Lowest Cost | 2.6-3.2M UYU ($65k-$80k) | 36k-44k UYU ($903-$1,090) | 3.4k-4.1k UYU ($84-$101) |
How much more do you pay for properties in Montevideo when you include renovation work, taxes, and fees?
When buying property in Montevideo in 2026, you should plan for total costs to run about 8% to 12% higher than the purchase price once you add in brokerage fees, notary costs, taxes, and administrative expenses.
If you buy a property in Montevideo for $200,000 (around 8,070,000 UYU), you can expect to pay roughly $18,000 in additional costs, bringing your total to about $218,000. This covers the real estate broker fee (typically 3% plus VAT), notary fees (around 3% plus VAT), the property transfer tax (ITP), and registry costs.
For a $500,000 property (around 20,175,000 UYU) in Montevideo, the additional expenses come to approximately $45,000, for a total outlay of about $545,000 once all fees and taxes are paid.
At the $1,000,000 level (around 40,350,000 UYU), you are looking at roughly $90,000 in extra costs, meaning your total investment reaches approximately $1,090,000 after closing.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Montevideo
| Expense | Type | Estimated Cost |
|---|---|---|
| Real Estate Brokerage | Fee | Typically 3% of the purchase price plus 22% VAT, so roughly 3.66% total. On a $200,000 property, this comes to about $7,320 (295,000 UYU). The buyer usually pays this fee in Montevideo. |
| Notary (Escribano) | Fee | Around 3% of the purchase price plus VAT, similar to brokerage fees. On a $200,000 purchase, expect roughly $7,320 (295,000 UYU). The notary handles all legal documentation and title verification. |
| Property Transfer Tax (ITP) | Tax | Approximately 2% of the updated cadastral value, which is usually much lower than the actual sale price. On a typical apartment, this might be $800 to $2,000 (32,000 to 80,000 UYU) depending on the property. |
| Registry and Stamps | Admin | Various certificates, stamps, and registration fees total roughly $300 to $800 (12,000 to 32,000 UYU). These cover property registry updates and official document processing. |
| Light Renovation | Renovation | For cosmetic updates like painting, flooring, and minor fixes, budget $150 to $300 per square meter (6,050 to 12,100 UYU per sqm). A 70 sqm apartment would cost $10,500 to $21,000 to refresh. |
| Full Renovation | Renovation | For complete renovation including kitchens, bathrooms, and structural work, expect $400 to $800 per square meter (16,140 to 32,280 UYU per sqm). A 70 sqm apartment could run $28,000 to $56,000 for a full overhaul. |
We made this infographic to show you how property prices in Uruguay compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Montevideo in 2026 with different budgets?
With $100,000 in Montevideo as of the first half of 2026, you could buy an existing studio of around 35 square meters in Centro in an older building, an existing one-bedroom apartment of about 40 square meters in Colón with simple finishes, or a small existing house of 60 to 80 square meters in Cerro that may need some updates.
With $200,000 in Montevideo, your options expand to an existing two-bedroom apartment of 65 to 75 square meters in Cordón, an existing one or two-bedroom apartment of 55 to 70 square meters in the inland parts of Malvín, or an existing small house of 100 to 130 square meters in Unión or the edge of La Blanqueada depending on condition.
With $300,000 in Montevideo, you could purchase an existing two-bedroom apartment of 75 to 90 square meters in Pocitos away from the seafront, a newer two-bedroom apartment of 70 to 85 square meters in Tres Cruces or northern Cordón, or an older house of 140 to 180 square meters on the edge of Prado with potential for a larger lot.
With $500,000 in Montevideo, you are looking at a large three-bedroom apartment of 120 to 150 square meters in Parque Rodó, an existing house of 200 to 260 square meters in Malvín or on the edge of Punta Gorda, or a premium two to three-bedroom apartment of 110 to 140 square meters in Punta Carretas in a good building with parking.
With $1,000,000 in Montevideo, you could buy a luxury apartment of 180 to 230 square meters in Punta Carretas that is newer with terraces and full amenities, a high-quality family house of 300 to 450 square meters in Carrasco, or a top-floor penthouse of 160 to 220 square meters in Puerto Buceo with premium views.
With $2,000,000 in Montevideo, you enter the trophy property segment and could acquire a large house of 500 to 800 square meters in a prime Carrasco location, an ultra-luxury penthouse of 250 to 400 square meters in Punta Carretas or Club de Golf with extensive terraces and multiple garage spaces, or an architectural signature home in Carrasco that is either newly built or fully renovated to the highest specifications.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Montevideo.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Montevideo, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Instituto Nacional de Estadística (INE) | Uruguay's official national statistics office that publishes standardized market indicators based on actual real estate transactions. | We used INE data to anchor the direction and pace of price changes in real transactions rather than just listings. We also used it to verify that our year-over-year estimates were consistent with official trends. |
| Agencia Nacional de Vivienda (ANV) | Uruguay's government housing agency that publishes price reports based on sworn declarations from promoted housing sales under Law 18.795. | We used ANV data to establish a credible USD per square meter benchmark for new residential stock in Montevideo. We also referenced their data to inform the new versus existing price premium discussion. |
| Inmuebles Data (El País) | A market dashboard backed by one of Uruguay's major national newspapers that provides structured, index-like tracking of asking prices. | We used Inmuebles Data as a private-sector market thermometer for listing prices and neighborhood price dispersion. We then cross-checked its findings with official INE and ANV data to avoid over-relying on listings alone. |
| Suarez Figari | An established local real estate firm that publishes detailed neighborhood price data tied to the recognized Inmuebles Data dataset. | We used Suarez Figari for neighborhood-level price per square meter figures across Montevideo. We reconciled their data with ANV benchmarks to ensure our price ranges remained realistic. |
| INE Consumer Price Index | The official source for Uruguay's inflation data used to make real versus nominal price comparisons over time. | We used the CPI data to inflation-correct long-term price comparisons expressed in Uruguayan pesos. We also used it to explain why nominal price gains can feel different when viewed in pesos versus dollars. |
| Banco República (BROU) | Uruguay's state bank that publishes official foreign exchange quotes used as the standard reference for currency conversions locally. | We used BROU exchange rates to convert all USD figures to Uruguayan pesos and euros. We applied late December 2025 rates as a practical proxy for January 2026 throughout all calculations. |
| Cambio Uruguay | A currency exchange tracking site that mirrors BROU quotes and provides historical exchange rate data. | We used Cambio Uruguay to verify historical exchange rates and ensure consistency in our currency conversions. We cross-referenced it with official BROU data to confirm accuracy. |
| Lofty | A local real estate advisory service that publishes detailed breakdowns of buying costs, taxes, and fees in Uruguay. | We used Lofty to compile information about brokerage fees, notary costs, and property transfer taxes in Montevideo. We verified their figures against standard market practices observed in the city. |
| World Bank Data | An international organization that provides standardized economic indicators including inflation data for Uruguay. | We used World Bank inflation data to calibrate our ten-year price change estimates. We cross-referenced this with INE's local CPI data to ensure our real price growth figures were accurate. |
| Local market observation | Direct observation of listing patterns and market activity provides practical insights that official statistics may not capture immediately. | We used local market observation to estimate typical negotiation discounts and listing-to-sale price gaps. We combined this with official data to provide a realistic view of what buyers actually pay. |
| Property type analysis | Understanding how different property types are distributed across the market helps explain price variations and buyer behavior. | We used property type breakdowns to explain why apartments dominate Montevideo listings. We also used this analysis to show how price per square meter varies by unit size. |
| Neighborhood demand patterns | Analyzing where different buyer groups concentrate helps explain geographic price differences across the city. | We used neighborhood demand data to identify which areas are popular with expats and why. We also used it to explain the coastal premium in Montevideo real estate. |
| Promoted housing data | Properties built under Uruguay's Law 18.795 tax incentive program provide a standardized dataset for new construction pricing. | We used promoted housing statistics to benchmark new construction prices per square meter. We also used this data to estimate the new versus existing property price premium. |
| Transaction volume analysis | Tracking the number and type of property sales helps identify market trends beyond just price movements. | We used transaction data to understand which property types and sizes are most commonly traded in Montevideo. We factored this into our median price estimates. |
| Coastal corridor analysis | The stretch from Carrasco to Pocitos represents Montevideo's premium market and drives much of the city's price appreciation. | We used coastal corridor data to explain why certain neighborhoods command premium prices. We also used it to illustrate the long-term appreciation trend in Montevideo real estate. |
| Renovation cost benchmarks | Understanding typical renovation costs helps buyers budget accurately for total property investment. | We used renovation cost data to provide realistic estimates for light and full renovation projects. We expressed these as cost per square meter ranges for easier budgeting. |
| Historical price trends | Looking at how prices have evolved over one year and ten years provides context for current valuations. | We used historical data to calculate year-over-year and decade-long price changes in both nominal and real terms. We explained the drivers behind these trends. |
| Unit size distribution | The mix of property sizes being sold affects both average prices and price per square meter calculations. | We used unit size data to explain why smaller apartments often have higher price per square meter. We also used it to provide realistic surface area expectations by property type. |
| Buyer cost analysis | Understanding total acquisition costs beyond the purchase price helps buyers plan their investment accurately. | We used buyer cost data to calculate the 8% to 12% premium buyers should expect over the purchase price. We broke this down by expense category for transparency. |
| Neighborhood classification | Grouping neighborhoods by character and price tier helps buyers understand market segmentation quickly. | We used neighborhood classifications to create the summary table showing price ranges across twelve areas. We labeled each neighborhood by its primary character and typical buyer profile. |
| Currency market analysis | The USD to UYU exchange rate significantly affects how international buyers perceive Montevideo property values. | We used currency data to convert all figures consistently to three currencies. We applied a single exchange rate throughout to ensure internal consistency. |
| Budget scenario modeling | Showing what specific budgets can buy helps readers quickly understand where they fit in the market. | We used budget scenarios to illustrate concrete examples at six price points from $100,000 to $2,000,000. We specified property type, size, neighborhood, and condition for each example. |
| Market equilibrium indicators | Understanding whether the market favors buyers or sellers helps contextualize price trends and negotiation expectations. | We used market equilibrium data to estimate the typical 5% gap between listing and closing prices. We explained when this gap tends to be larger or smaller. |
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