Summary
In October 2026, a 1-bedroom apartment in Montevideo lists at a median of about USD 149,000, a 2-bedroom at about USD 192,000 and a 3-bedroom house at about USD 247,000 (TuLugar). These are asking prices, and they are quoted in dollars.
Expect to pay a little less than the asking price: our estimate is a gap of 6% to 10% in Montevideo, so about 8% is a fair working number, less in Pocitos or Punta Carretas and more for old houses.
Apartments list at a median of USD 3,308 per m² across the city (about USD 307 per sq ft), or USD 2,841 if you take the middle of the barrio medians (INGAR, September 2026). New promoted-housing flats actually sold at an average of USD 2,411 per built m².
Prices are rising slowly in dollars: promoted-housing prices in Montevideo were up 5.1% in USD over the year to April 2026 and about 27% since the first half of 2021 (ANV).
That rise is mostly the dollar. Measured in indexed units (UI), the same Montevideo prices fell 2.2%, so in real terms they are slightly down. The peso has been stable at about 40.1 per dollar since August.
Montevideo is an apartment city. Houses list at a median of only USD 1,696 per m² because most of them are older and further from the coast, but a 3-bedroom house in Carrasco still lists at about USD 690,000.
New homes cost more: by our estimate about 15% more per m² than a comparable older flat in the same barrio, and up to 25% for new buildings with a garage and amenities near the Rambla.
Promoted-housing (vivienda promovida) flats can still make sense for a rental investor: no tax on the rent for 10 years under Law 18.795, and gross yields of about 6.2% in Cordón and Centro, against 5.3% in Pocitos (INGAR).
Neighborhood matters more than anything else: apartments list at USD 4,370 per m² in Carrasco and USD 4,184 in Punta Carretas, against USD 3,026 in Centro and USD 2,157 in Ciudad Vieja (INGAR, September 2026).
On top of the price, a buyer pays about 6% in taxes and fees without an agency, about 9.5% with one, and 10% to 13% with a mortgage. Renovation adds our estimate of USD 400 to 1,500 per m².
With USD 100,000 you get about a 33 m² studio in Centro, with USD 300,000 a 75 m² 2-bedroom in Pocitos, and with USD 1 million a family house of about 300 m² in Carrasco.
Our advice: compare per-m² prices barrio by barrio, offer around 8% below the asking price on anything that has sat on the market, and budget 9.5% on top of the price before you start.
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Message a proWhat do typical homes list and sell for in Montevideo?
Don't look at the average: a few large houses in Carrasco and penthouses on the Rambla pull it up. Medians by property type tell you more.
In October 2026, the median asking price in Montevideo was about USD 149,000 (about UYU 5.97 million, EUR 133,000) for a 1-bedroom apartment, USD 192,000 (about UYU 7.7 million, EUR 171,000) for a 2-bedroom apartment and USD 247,000 (about UYU 9.9 million, EUR 220,000) for a 3-bedroom house (TuLugar).
The official figure is lower: the median value of all registered sale deeds in Uruguay was USD 90,000 in July 2026 (INE), and Montevideo accounts for about a third of the country's deeds (33.6% in August 2026). That median covers every kind of property, including garages, land and cheap homes on the edge of the city, so it shows the whole market, not what a typical apartment buyer pays.
For about 80% of normal homes in Montevideo, our estimate of the realistic price range is USD 85,000 to 550,000 (about UYU 3.41 million to 22.1 million, EUR 75,700 to 490,000).
The entry level is about USD 80,000 to 135,000 (about UYU 3.21 million to 5.41 million, EUR 71,300 to 120,000), usually for an older studio or small 1-bedroom in Centro, Cordón, Ciudad Vieja, La Comercial, Unión or parts of Tres Cruces. A 1-bedroom in Centro or Ciudad Vieja lists at a median of USD 135,000.
The luxury end starts around USD 700,000 and goes past USD 2 million (about UYU 28.1 million to 80.2 million, EUR 624,000 to 1.78 million), usually for a large renovated apartment or penthouse in Punta Carretas, Puerto Buceo or prime Pocitos, or a big house in Carrasco.
How far are asking prices from sale prices in Montevideo?
Nobody publishes a reliable figure for this in Uruguay. Our estimate for Montevideo is that final sale prices are 6% to 10% below the listed price, so 8% is a fair working number for your offer. That is a bit less than the 10% we use for Uruguay as a whole, because the city's apartment market is bigger and easier to compare.
The gap is usually smaller in liquid apartment barrios such as Pocitos, Punta Carretas, Cordón, Parque Batlle and Buceo, where buyers can compare many similar units. It is bigger for older homes that need work, expensive houses, flats with high monthly building costs (gastos comunes) and listings that have been online for months.
What is the price per m² (and per sq ft) in Montevideo?
In October 2026, the median asking price for apartments in Montevideo was USD 3,308 per m² (about UYU 133,000, EUR 2,950), or about USD 307 per sq ft (TuLugar). INGAR, which takes the middle of its barrio medians, gives a lower USD 2,841 per m² (about USD 264 per sq ft) for September 2026. Houses list at a median of USD 1,696 per m² (about UYU 68,000, EUR 1,510), or about USD 158 per sq ft.
For real sales, the best official figure is promoted housing (vivienda promovida): these new apartments sold at an average of USD 2,411 per built m², or USD 3,115 per habitable m², in Montevideo over the 12 months to April 2026 (ANV). That covers new, tax-incentivized projects only, mostly in central and middle-income barrios.
The highest prices per m² are in new or recently renovated apartments near the coast: Carrasco (USD 4,370), Parque Rodó (USD 4,347), Punta Carretas (USD 4,184) and Pocitos (USD 3,956), according to INGAR.
The lowest are in Ciudad Vieja (USD 2,157 per m² for apartments, INGAR) and, by our estimate, in Cerro, Unión, Goes, La Comercial and parts of Centro, where older homes often go for USD 1,000 to 2,000 per m² (about UYU 40,100 to 80,200).
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How have property prices evolved in Montevideo?
Over the year to April 2026, the price per m² of promoted housing in Montevideo rose 5.1% in US dollars (ANV). That is a slow, steady rise, a little behind the 6.3% for Uruguay as a whole and well behind Maldonado (+9.3%).
Over five years, the same series goes from USD 1,955 per built m² in the first half of 2021 to USD 2,477 in January-April 2026, about 27% more in dollars. That is about 4.8% a year, but it follows new projects only, and what gets built changes over time.
Montevideo has no official house price index, and no source tracks resale prices barrio by barrio over time, so be careful with anyone quoting a precise yearly rise for Pocitos or Carrasco. Activity is healthy: Uruguay recorded 4,838 sale deeds in August 2026, about a third of them in Montevideo (INE).
Are Montevideo prices really rising, or is it just the dollar?
Mostly the dollar. The 5.1% rise in dollars over the year to April 2026 becomes a 2.2% fall when you measure it in indexed units (UI), which follow Uruguayan inflation (ANV). So in real terms Montevideo prices are slightly down, a bit weaker than the national figure (−1.3% in UI).
The peso has been strong in real terms since 2023, which makes Montevideo expensive for anyone earning in dollars or euros. But it has not been moving much lately: about 40.1 to 40.3 pesos per dollar since August 2026, after a 2026 range of 37.4 to 40.8.
Inflation was 4.68% over the 12 months to September 2026 (INE), and the central bank's survey expects about 40.5 pesos per dollar at the end of 2026 and 41.4 at the end of 2027. Nothing there points to a sudden jump or drop in dollar prices.
What this means for you: don't buy in Montevideo for a quick gain. Buy for the use or the rent, check the asking price per m² against the barrio median in the table below, and don't pay extra because "prices are going up".
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Message a proHow do prices vary by housing type in Montevideo?
Montevideo is mostly an apartment market, especially in the busy coastal and central barrios. Houses are more common in Carrasco, Malvín, Punta Gorda, Prado and the outer barrios.
Going from a 1-bedroom (USD 149,000) to a 2-bedroom apartment (USD 192,000) adds about USD 43,000 at median asking prices, and a 3-bedroom house lists at USD 247,000 (about UYU 9.9 million) (TuLugar, October 2026).
Houses look cheap per m² (USD 1,696 against USD 3,308 for apartments) because many are older, bigger and away from the coast. In the best barrios the total is much higher: a 3-bedroom house lists at a median of USD 690,000 (about UYU 27.7 million, EUR 615,000) in Carrasco, USD 404,000 in Malvín and USD 345,000 in Pocitos.
New promoted apartments sold at an average of USD 2,411 per built m² (ANV), so a 60 m² unit comes to about USD 145,000 (about UYU 5.81 million, EUR 129,000). Penthouses, PH units (low-rise flats with their own entrance) and big houses are too few and too varied for a reliable median.
How do property prices compare between existing and new homes in Montevideo?
No source compares matched new and old homes. Our estimate is that a new apartment in Montevideo costs about 15% more per m² than a comparable older one in the same barrio, and up to 25% for new buildings with a garage, amenities and a Rambla address.
Buyers pay for modern layouts, elevators, garages, security and no renovation bill in the first years. In an older building, check the gastos comunes and any planned works on the façade or elevators before you compare prices.
Are promoted-housing (vivienda promovida) flats in Montevideo still a good buy?
For a rental investor, often yes. Montevideo counts 20,904 promoted units sold since the scheme started, and Cordón alone has 26.4% of them (ANV, May 2026). These new flats sold at an average of USD 2,411 per built m² (USD 3,115 per habitable m²) over the 12 months to April 2026. Per habitable m², that is close to what older flats ask in Cordón (USD 3,228 per m², INGAR).
The big plus is tax. Under Law 18.795, the investor pays no IRPF or IRNR on the rent for 10 years, no Impuesto al Patrimonio on the unit for 10 years, no transfer tax (ITP) on the first purchase, and no VAT on the first sale. Without the scheme, about 10.5% of the gross rent is withheld as tax, so the exemption adds roughly 0.7 of a point to your net yield: about 4.8% net instead of 4.1% on a Cordón flat (our estimate).
Gross yields are also higher where most promoted projects are: about 6.2% in Cordón and Centro, against 5.3% in Pocitos and 5.1% in Punta Carretas (INGAR, September 2026).
The downsides: units are small, many similar flats come on the rental market at the same time in Cordón, Centro and Tres Cruces, and resale value depends a lot on the building. Prices of promoted housing were up 5.1% in dollars but down 2.2% in UI over the year, so this is an income play, not a bet on appreciation.
Before you sign: ask the developer for the project's ANV promotion resolution, check which exemptions apply to you as a buyer, compare the price per habitable m² (not built m²) with resale flats nearby, and check the expected gastos comunes.
How do property prices vary by neighborhood in Montevideo?
In Pocitos, you mostly find apartments, from older 2-bedroom units to new buildings. In October 2026 a 1-bedroom listed at a median of USD 194,000 (about UYU 7.78 million, EUR 173,000) and a 2-bedroom at USD 297,000 (about UYU 11.9 million, EUR 265,000). Pocitos is expensive because of the beach, the shops, walkability and strong rental demand.
In Punta Carretas, you find premium apartments, renovated units and new buildings. A 1-bedroom lists at a median of USD 195,000 (about UYU 7.82 million, EUR 174,000) and a 2-bedroom at USD 341,000 (about UYU 13.7 million, EUR 304,000). Buyers pay for the Rambla, the shopping center, services and easy resale.
In Carrasco, you find large apartments, family houses and villas. A 2-bedroom apartment lists at a median of USD 410,000 (about UYU 16.4 million, EUR 365,000) and a 3-bedroom house at USD 690,000 (about UYU 27.7 million, EUR 615,000). Large renovated houses go well past USD 1 million. Buyers pay for space, gardens, schools, quiet streets and the airport nearby.
Here is how asking prices compare across barrios:
| Neighborhood | Market label | Median asking price, 1-bed / 2-bed apartment | Median asking price per m² (apartments) | Per sq ft |
|---|---|---|---|---|
| Carrasco | Luxury / family | USD 230,000 / USD 410,000 | USD 4,370 | USD 406 |
| Parque Rodó | Lifestyle / central-coastal | USD 195,000 / USD 307,000 | USD 4,347 | USD 404 |
| Punta Carretas | Premium / expat-popular | USD 195,000 / USD 341,000 | USD 4,184 | USD 389 |
| Pocitos | Popular / liquid | USD 194,000 / USD 297,000 | USD 3,956 | USD 368 |
| Malvín | Family / coastal | USD 167,000 / USD 257,000 | USD 3,807 | USD 354 |
| Buceo | Mid-market / practical | USD 168,000 / USD 246,000 | USD 3,657 | USD 340 |
| Puerto Buceo | Premium / waterfront | No reliable median | USD 3,500 to 4,800 (our estimate) | USD 325 to 446 |
| Cordón | Student / investor / central | USD 137,000 / USD 177,000 | USD 3,228 | USD 300 |
| Centro | Affordable / central | USD 135,000 / USD 169,000 | USD 3,026 | USD 281 |
| Parque Batlle | Family / hospitals / parks | No reliable median | USD 2,700 to 3,500 (our estimate) | USD 251 to 325 |
| La Blanqueada | Commute / new-build value | No reliable median | USD 2,000 to 2,900 (our estimate) | USD 186 to 269 |
| Ciudad Vieja | Entry / investor | USD 135,000 / USD 165,000 | USD 2,157 | USD 200 |
| Unión / La Comercial | Entry / budget | No reliable median | USD 1,400 to 2,200 (our estimate) | USD 130 to 204 |
Per m² figures come from INGAR (September 2026) and 1- and 2-bedroom prices from TuLugar (October 2026). All are asking prices. Rows marked "our estimate" have no published barrio median.
How much more do you pay for properties in Montevideo when you include renovation work, taxes, and fees?
On top of the price, a cash buyer pays about 6% in taxes and fees without an agency, about 9.5% with an agency, and 10% to 13% with a mortgage (INGAR, October 2026). By our estimate, light renovation brings the total extra to 12% to 20%, and heavy renovation to 25% to 45%.
If you buy a property for USD 200,000 (about UYU 8.02 million) through an agency, taxes and fees add about USD 19,000 (about UYU 762,000), so the total is near USD 219,000 (about UYU 8.78 million), before any work.
If you buy for USD 500,000 (about UYU 20.1 million), costs add about USD 47,500 (about UYU 1.9 million), so the total is near USD 547,500 (about UYU 22 million) if the home only needs light work.
If you buy for USD 1 million (about UYU 40.1 million), costs add about USD 95,000 (about UYU 3.81 million), so the total is near USD 1.09 million (about UYU 43.9 million), before major upgrades or design work.
One rule to know: under Decree 238/026, published in October 2026, you can pay at most UI 200,000 (about USD 33,000) of a property price in cash. The rest goes through a bank, so plan your transfer early.
Here is what you pay, item by item:
| Expense | Type | Estimated cost range |
|---|---|---|
| Transfer tax / ITP | Tax | 2% of the cadastral value (not of the price) for the buyer, and another 2% for the seller (DGI). Because the cadastral value is usually below the market price, it often works out at 1% to 2% of what you pay: on a USD 200,000 purchase, about USD 2,000 to 4,000. |
| Notary / escribano | Legal fee | About 3% plus VAT (22%), so about 3.66% of the price. On a USD 200,000 purchase, that is about USD 7,300. |
| Certificates, registration and paperwork | Administrative | Usually a few hundred dollars on top of the notary fee (INGAR quotes USD 200 to 500 for a typical sale). Ask your escribano for the full list before signing. |
| Real estate agency commission | Brokerage | Usually 3% plus VAT, about 3.66% of the price, paid by each side. On a USD 200,000 purchase, that is about USD 7,300. |
| Light renovation | Renovation | Our estimate: USD 400 to 800 per m² (about UYU 16,000 to 32,100) for paint, floors, small repairs and a light kitchen or bathroom refresh. On a 60 m² apartment, about USD 24,000 to 48,000. |
| Heavy renovation | Renovation | Our estimate: USD 800 to 1,500 per m² (about UYU 32,100 to 60,200) for new kitchens and bathrooms, wiring, plumbing and damp problems. On a 60 m² apartment, about USD 48,000 to 90,000. |
| Contingency | Safety buffer | Our estimate: 2% to 5% of the price, because older Montevideo buildings often hide damp, plumbing or elevator costs. On a USD 200,000 purchase, about USD 4,000 to 10,000. |
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Message a proWhat properties can you buy in Montevideo with different budgets?
With USD 100,000, the market is small and mostly older: about a 30 to 35 m² studio in Centro or Cordón, a 40 to 45 m² older 1-bedroom in Ciudad Vieja, or a 45 to 60 m² older flat in Unión or La Comercial that may need work.
With USD 200,000, you can find a 50 m² 1-bedroom in Pocitos, a 55 m² 1- or 2-bedroom in Buceo, or a 60 to 65 m² 2-bedroom in Cordón, new or recent at the top of the range.
With USD 300,000, you can find a 75 m² 2-bedroom in Pocitos, a 70 m² 2-bedroom in Parque Rodó, or an 80 m² apartment in Malvín.
With USD 500,000, you can find a 120 to 125 m² 3-bedroom in Pocitos or Punta Carretas, a 150 m² house in Carrasco, or a 200 m² or larger family house in Malvín that may need updating.
With USD 1 million, you can find a 230 m² large apartment in Punta Carretas or Carrasco, a premium apartment with a sea view in Puerto Buceo, or a 300 m² family house in Carrasco.
With USD 2 million, the market is real but thin: a 500 to 600 m² house in Carrasco, or a top-floor penthouse with a terrace on the Rambla in Punta Carretas or Puerto Buceo.
These sizes come from the median asking prices per m² above, before buying costs. Real listings vary a lot with the age of the building, the view, the floor and the garage.
Our methodology
This article estimates what homes cost in Montevideo: median prices by property type, prices per m² and per sq ft, the gap between asking and sale prices, price trends in dollars and in real terms, promoted housing, barrio differences, buying costs and what each budget buys.
We start with official data: INE's registered sales (deeds, median deed value and Montevideo's share, July and August 2026) and ANV's price report on promoted housing, which gives actual sale prices in Montevideo and their change in dollars and in UI over the 12 months to April 2026. Because there is no official price index or official barrio data, we then use listing portals: TuLugar (October 2026) for prices by property type and number of bedrooms, and INGAR (September 2026) for barrio prices per m² and gross yields. Budget sizes are calculated from those per m² medians.
For buying costs and rules, we used the DGI for the transfer tax (ITP), INGAR's 2026 guides for notary, agency and total buyer costs, the MVOT for the Law 18.795 exemptions and IMPO for Decree 238/026 on cash payments.
We checked these figures in October 2026. Peso amounts are converted at about 40.1 pesos per US dollar and 45 pesos per euro (BCU, October 2026). Property in Montevideo is listed and paid for in US dollars, so the dollar figures are the ones to use; peso and euro amounts are only there to help you compare.
Limits: portal figures are asking prices, not sale prices, and they move with what is listed each month; TuLugar and INGAR also sample differently, which is why their city medians differ. ANV data covers promoted new housing only, and INE's median deed mixes all property types across Uruguay. Where no source exists (asking-to-sale gap, new-build premium, renovation costs, some barrios), we give our own estimate and say so.
Key sources used for this analysis include INE, real estate sales July-August 2026, ANV, price report no. 50, INE, CPI September 2026, BCU exchange rates, DGI, transfer tax, MVOT, Law 18.795, IMPO, Decree 238/026, TuLugar Datos, Montevideo, INGAR, Montevideo September 2026, INGAR, notary costs and INGAR, buyer costs.
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