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As of September 2025, Montevideo's real estate market offers diverse pricing across neighborhoods, from affordable areas starting at $750 per square meter to luxury properties in Carrasco reaching $4,260 per square meter.
Property prices in Montevideo vary significantly based on location, with central neighborhoods like Pocitos commanding premium prices while suburban areas offer more affordable options. Understanding these price differences is crucial for both investors and residents planning to purchase property in Uruguay's capital city.
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.
Montevideo's property market shows clear neighborhood stratification, with luxury areas like Carrasco averaging $4,260 per square meter compared to affordable zones at $750-875 per square meter.
One-bedroom apartments range from $70,000 in suburbs to $200,000 in prime locations, while luxury properties can reach $11.5 million for mansions.
| Property Type | City Center | Prime Neighborhoods | Affordable Areas |
|---|---|---|---|
| Price per sqm | $2,420-$2,704 | $3,500-$4,260 | $750-$875 |
| 1-bedroom apartment | $95,000-$135,000 | $150,000-$200,000 | From $70,000 |
| 2-bedroom apartment | $160,000-$290,000 | $260,000-$540,000 | $128,000-$200,000 |
| 3-bedroom apartment | $195,000-$350,000 | $400,000-$550,000+ | $159,000-$295,000 |
| Small house | $100,000-$167,000 | N/A | Under $100,000 |
| Medium house | $167,000-$300,000 | $300,000-$1M+ | $50,000-$200,000 |
| Monthly rent 1BR | $450-$600 | $600+ | $250-$350 |
What's the average price per square meter for apartments in Montevideo?
The average price per square meter for apartments in Montevideo ranges from $2,420 to $2,704 citywide as of September 2025.
Mid-tier neighborhoods like Pocitos, Malvín, and Parque Rodó command around $3,500 per square meter. These areas offer good amenities and proximity to the coast, making them popular with both locals and expatriates.
Prime luxury neighborhoods such as Carrasco and Punta Carretas see prices between $3,500 and $4,260 per square meter. Carrasco, in particular, reaches the highest prices due to its upscale reputation, large properties, and proximity to international schools.
Affordable areas like Las Acacias and Peñarol offer significantly lower prices at $750 to $875 per square meter. These neighborhoods provide entry-level opportunities for first-time buyers or investors seeking higher rental yields.
Inland towns outside Montevideo typically price below $1,750 per square meter, offering even more affordable options for those willing to live further from the city center.
How much does a one-bedroom apartment cost in the city center compared to the suburbs?
One-bedroom apartments in Montevideo's city center typically cost between $95,000 and $135,000 as of September 2025.
Suburban areas offer more affordable options, with one-bedroom apartments starting from $70,000. These properties are often found in neighborhoods further from the coast and city center but still offer good access to public transportation.
The price difference reflects the premium for central location, proximity to business districts, restaurants, and cultural attractions. City center apartments also tend to be in newer or recently renovated buildings with modern amenities.
Prime neighborhoods like Pocitos and Carrasco command even higher prices, with one-bedroom apartments ranging from $150,000 to $200,000. These areas offer beachfront access and upscale surroundings that justify the premium pricing.
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What's the typical price range for two-bedroom apartments in Montevideo?
Two-bedroom apartments in Montevideo's city center range from $160,000 to $290,000 as of September 2025.
Suburban and other standard areas offer two-bedroom apartments between $128,000 and $200,000. These properties provide more space for families while maintaining reasonable pricing compared to central locations.
Prime neighborhoods command significantly higher prices, with two-bedroom apartments ranging from $260,000 to $540,000. Areas like Carrasco and Punta Carretas attract buyers seeking luxury amenities and prestigious addresses.
The wide price range reflects differences in building quality, amenities, and exact location within each neighborhood. Newer constructions with modern features and better views typically price at the higher end of each range.
Two-bedroom apartments represent the most popular segment in Montevideo's residential market, offering a balance between space and affordability for both local families and international buyers.
How much would I expect to pay for a three-bedroom apartment in popular neighborhoods?
Three-bedroom apartments in Montevideo's city center cost between $195,000 and $350,000 as of September 2025.
Suburban areas offer three-bedroom apartments from $159,000 to $295,000, providing more space at lower price points. These properties often include additional amenities like parking spaces and storage areas.
Popular upscale neighborhoods like Pocitos, Carrasco, and Punta Carretas see three-bedroom apartments priced from $400,000 to $550,000 or more. These premium properties often feature high-end finishes, building amenities, and prime locations.
The highest-end three-bedroom apartments in luxury buildings can exceed $550,000, particularly those with panoramic views, premium building services, and exclusive locations near the coast.
Three-bedroom apartments appeal to families and investors seeking larger properties for long-term rentals, as they offer better rental yields in the family housing segment.
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What's the average cost of a small house in the city compared to outside the city?
Small houses within Montevideo city limits typically cost between $100,000 and $167,000 as of September 2025.
Outside the city in suburban and rural areas, small houses are available for under $100,000. These properties often include larger lots and more privacy but require longer commutes to city amenities.
The price difference reflects land costs and proximity to urban infrastructure. City houses benefit from better access to public services, schools, and employment centers.
Small houses in Montevideo often target first-time buyers or those seeking entry-level property ownership. They typically include 2-3 bedrooms and basic amenities suitable for small families.
Properties outside the city may offer better value for money in terms of space and land size, making them attractive for buyers prioritizing outdoor space over urban convenience.
How much does a medium-sized family house cost in Montevideo?
Medium-sized family houses in Montevideo range from $167,000 to $300,000 as of September 2025.
Outside the city, medium-sized houses are available from $50,000 to $200,000, offering significant savings for families willing to live in suburban or rural areas.
Prime neighborhoods within Montevideo see medium-sized houses starting from $300,000 and reaching $1 million or more for luxury properties. Areas like Carrasco command premium prices due to their exclusivity and amenities.
Medium-sized family houses typically include 3-4 bedrooms, multiple bathrooms, and outdoor space. They represent the core of Montevideo's family housing market.
The price variation depends on factors including lot size, building condition, neighborhood amenities, and proximity to schools and shopping centers.
What's the price range for luxury houses or high-end apartments in prime areas?
Luxury houses and high-end apartments in Montevideo's prime areas range from $500,000 to $11.5 million as of September 2025.
The average price for luxury homes in Montevideo is $1.2 million, with most luxury properties falling between $500,000 and $2 million. These properties feature high-end finishes, premium locations, and extensive amenities.
Ultra-luxury mansions in exclusive areas like Carrasco can reach $11.5 million, representing the absolute pinnacle of Montevideo's residential market. These properties often include extensive grounds, premium architectural design, and exclusive neighborhood access.
Luxury apartments in prime buildings typically start around $500,000 and can exceed $1 million for penthouses with panoramic views and premium building services.
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How do property prices differ between neighborhoods like Pocitos, Ciudad Vieja, and Carrasco?
Property prices vary dramatically between Montevideo's key neighborhoods, reflecting their distinct characteristics and amenities.
Pocitos commands premium prices with one-bedroom apartments from $150,000 to $200,000 and properties averaging $3,500+ per square meter. This beachfront neighborhood attracts young professionals and offers vibrant nightlife and dining.
Ciudad Vieja offers more affordable options with one-bedroom apartments from $95,000 to $150,000 and prices ranging $2,400 to $3,500 per square meter. The historic district features restored colonial buildings that attract both residents and investors.
Carrasco represents the most exclusive neighborhood with villas starting from $500,000 and averaging $1 million, plus properties at $4,260 per square meter. This upscale area features large homes, international schools, and premium amenities.
| Neighborhood | 1BR Apartment Price | Price per sqm | Character |
|---|---|---|---|
| Pocitos | $150,000-$200,000 | $3,500+ | Beachfront, young professionals |
| Ciudad Vieja | $95,000-$150,000 | $2,400-$3,500 | Historic, colonial architecture |
| Carrasco | Villas from $500,000 | $4,260 | Ultra-luxury, international schools |
| Punta Carretas | $180,000-$250,000 | $3,500-$4,000 | Shopping, dining, coastal |
| Parque Rodó | $120,000-$180,000 | $3,200-$3,500 | Cultural, central location |
| Las Acacias | $70,000-$100,000 | $750-$875 | Affordable, emerging area |
| Peñarol | $60,000-$90,000 | $750-$875 | Working-class, affordable |
What are the monthly rental prices for apartments in Montevideo by size?
Monthly rental prices in Montevideo vary significantly based on apartment size and location as of September 2025.
Studio and one-bedroom apartments in city center and prime areas rent for $450 to $600 per month unfurnished. Standard and mid-tier areas offer these units for $350 to $450 monthly, while affordable outskirts start at $250 per month.
Two-bedroom apartments command $700 to $1,100 monthly in central and prime locations, $600 to $900 in standard areas, and $460 to $700 in more affordable neighborhoods.
Three-bedroom apartments rent for $1,100 to $1,750 monthly in prime areas, $800 to $1,200 in standard neighborhoods, and $700 to $900 in affordable areas.
Luxury apartments in prime locations start at $1,950 monthly and can exceed $3,000 for high-end properties with premium amenities and exceptional locations.
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 house rentals compare in cost to apartment rentals in different areas?
House rentals in Montevideo generally cost more than apartment rentals due to additional space and privacy they provide.
Houses in city center and prime areas rent for $1,500 to $3,000 monthly, compared to $1,100 to $1,750 for three-bedroom apartments in the same areas.
Standard and mid-tier neighborhoods offer house rentals from $1,000 to $1,500 monthly, while comparable three-bedroom apartments rent for $800 to $1,200 in these areas.
Affordable areas feature house rentals under $1,000 monthly, compared to $700 to $900 for three-bedroom apartments, maintaining the premium for additional space and outdoor areas.
The house rental premium reflects benefits like private outdoor space, parking, and greater privacy that houses typically offer compared to apartments.
What additional costs should I expect when buying property, such as taxes and notary fees?
Property buyers in Montevideo should budget approximately 7-8% of the purchase price for total transaction costs as of September 2025.
1. **Agent's commission:** 3.28% plus VAT (approximately 4% total) paid by both buyer and seller2. **Notary (Escribano) fee:** Usually 3% plus VAT (approximately 3.66% total) for legal documentation3. **Deed registration stamp tax:** 0.55% of the property value4. **Registry and tax certificate stamp tax:** Approximately $200 fixed fee5. **Property transfer tax:** Around 2% of the fiscal value (typically lower than market value)These costs are mandatory and cannot be avoided in Uruguayan property transactions. The notary plays a crucial role in Montevideo real estate, handling legal verification and documentation.
Buyers should also consider additional costs like property inspections, legal consultations, and potential currency exchange fees if purchasing with foreign currency.
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How much have real estate prices in Montevideo increased or decreased over the past five years?
Montevideo real estate prices have shown mixed performance over the past five years, with significant variation by year and inflation adjustment.
In 2023, Uruguay experienced a property price surge with a nationwide increase of 20.6% nominally and 14.7% when adjusted for inflation, representing strong real growth.
During 2024, Montevideo property prices rose 2.9% nominally, but real prices fell approximately 4% due to inflation outpacing price growth.
As of 2025, prices in Montevideo show moderate growth of 3-5% in prime areas, with the citywide average maintaining the $2,420-$2,704 per square meter range. Carrasco and Punta Carretas continue leading price appreciation.
Long-term trends show Montevideo has generally delivered inflation-beating growth except for the modest real decline in 2024, making it a relatively stable investment market compared to other Latin American capitals.
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 real estate market in 2025 offers diverse opportunities across price ranges, from affordable entry-level properties to luxury estates.
Understanding neighborhood differences and transaction costs is essential for making informed property decisions in Uruguay's capital.
Sources
- The LatinVestor - Average House Price in Uruguay
- The LatinVestor - Uruguay Price Forecasts
- The LatinVestor - Montevideo Price Forecasts
- The LatinVestor - Montevideo Best Neighborhoods
- Aparthotel - Uruguay Analysis
- La Cite Uruguay - Buying in Montevideo Guide
- International Living - Montevideo
- Global Property Guide - Uruguay Rental Yields