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Montevideo's property market as of September 2025 shows clear price differentials across neighborhoods, with premium coastal areas commanding $3,500-$4,260 per square meter while peripheral zones start around $750 per square meter. The Montevideo residential market demonstrates steady growth patterns with a 2.9% year-over-year increase in 2024, making it an attractive destination for both investors and those considering relocation to Uruguay's capital.
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Montevideo property prices range from $750 per square meter in peripheral areas to over $4,000 per square meter in premium coastal neighborhoods like Carrasco and Punta Carretas.
The Montevideo real estate market shows consistent growth with apartments typically priced $1,000-$1,500 per square meter higher than houses, and new constructions commanding a 10-30% premium over older properties.
| Neighborhood Category | Price Range (USD/sqm) | Key Areas |
|---|---|---|
| Premium Coastal | $3,500 - $4,260 | Carrasco, Punta Carretas, Pocitos |
| Central/Established | $2,800 - $3,250 | Centro, Cordón, Tres Cruces |
| Mid-Range Residential | $2,000 - $2,800 | La Blanqueada, Parque Rodó |
| Developing Areas | $1,500 - $2,000 | Outer residential zones |
| Peripheral | $750 - $1,200 | Las Acacias, Peñarol |
| New vs Older Properties | 10-30% premium | New builds citywide |
| Apartments vs Houses | $1,000-$1,500 higher | Apartments premium citywide |
What's the average price per square meter in Montevideo right now?
As of September 2025, Montevideo's average property price ranges from $2,420 to $2,704 per square meter citywide.
The Montevideo residential market shows significant variation depending on location and property type. Premium neighborhoods like Carrasco command the highest prices at $4,260 per square meter, while coastal areas including Pocitos and Punta Carretas typically sell for $3,500-$4,000 per square meter.
Mid-range neighborhoods such as La Blanqueada and Cordón average $2,950-$3,250 per square meter, representing the most accessible options for buyers seeking established areas with good infrastructure. Central areas including Centro and Tres Cruces maintain steady pricing around $2,800 per square meter.
The most affordable options in Montevideo's property market can be found in peripheral areas like Las Acacias and Peñarol, where prices start as low as $750-$875 per square meter. These areas offer entry-level investment opportunities but may lack the infrastructure and amenities of more established neighborhoods.
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How does the price per square meter vary between neighborhoods in Montevideo?
| Neighborhood | Price per sqm (USD) | Market Characteristics |
|---|---|---|
| Carrasco | $4,260 | Premium beachfront, luxury developments |
| Punta Carretas | Over $4,000 | Shopping district, modern amenities |
| Punta Gorda | Over $4,000 | Exclusive residential, river views |
| Pocitos, Malvín | Around $3,500 | Popular coastal neighborhoods |
| Parque Rodó | Around $3,500 | Cultural area, near beaches |
| La Blanqueada, Cordón | $2,950-$3,250 | Established residential areas |
| Centro, Tres Cruces | Around $2,800 | Commercial center, transport hubs |
| Las Acacias | $750 | Developing peripheral area |
| Peñarol/Lavalleja | $875 | Working-class neighborhoods |
What's the price difference per square meter between apartments and houses?
Apartments in Montevideo command significantly higher prices per square meter compared to houses, with a typical premium of $1,000-$1,500 per square meter.
The Montevideo apartment market shows median pricing around 136,677 Uruguayan pesos per square meter, equivalent to approximately $3,200-$3,500 per square meter at current exchange rates. This reflects strong demand for apartment living in the capital, particularly in central and coastal areas where high-rise developments dominate.
Houses in Montevideo average around 83,538 Uruguayan pesos per square meter, translating to $2,000-$2,400 per square meter. The lower per-square-meter cost for houses reflects different market dynamics, including larger plot sizes and the inclusion of land value in peripheral areas where houses are more common.
This price differential stems from several factors including location preferences, with apartments concentrated in premium neighborhoods, higher construction costs for vertical developments, and greater demand for maintenance-free living options among both local and international buyers.
How much more expensive is the city center per square meter compared to the suburbs?
Montevideo's city center and premium coastal areas are typically 2-4 times more expensive per square meter than suburban and peripheral districts.
The city center and established coastal neighborhoods command $2,800-$4,260 per square meter, representing the premium end of Montevideo's property market. These areas benefit from proximity to business districts, cultural amenities, and beachfront access, driving substantial price premiums.
Suburban and peripheral areas range from $750-$1,500 per square meter, offering significantly more affordable entry points into Montevideo's property market. Areas like Las Acacias, Peñarol, and other developing zones provide opportunities for buyers seeking value investments or larger properties at lower per-square-meter costs.
The price differential reflects infrastructure quality, transport connectivity, and amenity access. Central areas offer walking access to employment, shopping, and services, while suburban areas may require longer commutes but provide more space and potential for capital appreciation as the city expands.
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What is the price per square meter for new builds versus older properties?
New construction properties in Montevideo typically command a 10-30% premium over older properties, with new builds averaging $2,897-$3,500 per square meter or higher.
The Montevideo new construction market reflects modern building standards, energy efficiency, and contemporary design preferences that justify premium pricing. New luxury developments often exceed $3,500 per square meter, particularly in sought-after locations like the coastal corridor and central business district.
Older properties in Montevideo generally range from $2,100-$2,500 per square meter, offering more affordable options for buyers willing to undertake renovations or accept existing architectural styles. These properties can represent excellent value in central and peripheral zones where land values provide the primary investment foundation.
The premium for new construction reflects several factors including modern amenities, warranty protection, immediate move-in readiness, and compliance with current building codes. Buyers often justify the higher per-square-meter cost through reduced maintenance expenses and energy efficiency savings over time.
What's the typical price per square meter for properties near the beach in Montevideo?
Beachfront and coastal properties in Montevideo command premium pricing of $3,500-$4,260 per square meter, representing the most expensive segment of the city's real estate market.
The Rambla coastline, including neighborhoods like Pocitos, Punta Carretas, and Carrasco, represents Montevideo's prime real estate corridor. These areas combine beach access with established infrastructure, making them highly desirable for both residents and investors seeking premium lifestyle amenities.
Carrasco leads coastal pricing at $4,260 per square meter, reflecting its status as Montevideo's most exclusive beachfront neighborhood. Properties here often feature private beach access, luxury amenities, and proximity to the international airport, justifying the premium market positioning.
The eastern coast of Montevideo consistently outperforms inland areas in both pricing and capital appreciation, driven by limited supply of oceanfront properties and consistent demand from both domestic and international buyers seeking coastal lifestyle benefits.
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How do prices per square meter in Montevideo compare to other major Uruguayan cities?
| City | Average Price per sqm (USD) | Market Position |
|---|---|---|
| Punta del Este | $4,000-$10,000 | Luxury resort market, seasonal peaks |
| Montevideo | $2,420-$3,500 | Capital city, diverse neighborhoods |
| Maldonado | Under $2,000 | Regional center, growing market |
| Inland Cities | Under $1,750 | Agricultural centers, value markets |
| Piriápolis | $1,800-$2,500 | Coastal resort, seasonal demand |
| Colonia del Sacramento | $1,500-$2,200 | Historic town, tourism-driven |
What has been the year-over-year change in price per square meter in Montevideo?
Montevideo's property market demonstrated steady growth with a 2.9% nominal price increase year-over-year in 2024, reflecting stable demand and controlled supply conditions.
Premium neighborhoods and properties featuring outdoor spaces such as terraces and gardens significantly outperformed the citywide average, achieving growth rates of 4-10% year-over-year. This trend reflects increased demand for quality living spaces following global lifestyle changes and Uruguay's stable economic environment.
The Montevideo coastal corridor, including Pocitos, Punta Carretas, and Carrasco, led price appreciation due to limited supply of beachfront properties and consistent demand from both domestic and international buyers. These areas typically achieved the higher end of the 4-10% growth range.
Central and established residential areas maintained steady appreciation closer to the citywide average, while peripheral and developing neighborhoods showed more varied performance depending on infrastructure improvements and urban development projects affecting specific zones.
What is the price per square meter when buying versus renting?
Purchasing property in Montevideo costs $2,420-$4,260 per square meter depending on location, while rental markets operate at significantly different per-square-meter economics with gross yields typically ranging 4-5% annually.
Rental apartments in central Montevideo average $U 20,000-30,000 ($500-$750) monthly for one-bedroom units, with per-square-meter rental costs varying based on property size and location. Premium coastal areas command higher monthly rents but often provide better yield potential for investors.
The Montevideo rental market offers competitive yields compared to regional averages, making property investment attractive for income-focused buyers. Central and coastal properties typically achieve better rental demand and pricing power, supporting higher purchase prices per square meter.
Rental yields in Montevideo's property market remain stable due to consistent demand from young professionals, students, and expatriates, particularly in neighborhoods with good transport connections and amenities. This demand supports the premium pricing seen in central and coastal areas.
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 does the price per square meter differ depending on property size (small vs large units)?
Smaller units in Montevideo command a 10-20% premium per square meter compared to larger properties, reflecting higher demand and turnover rates for compact living spaces.
Studio and one-bedroom apartments typically achieve the highest per-square-meter pricing due to strong demand from young professionals, students, and investors seeking rental income properties. These units offer easier financing requirements and broader tenant appeal, supporting premium market positioning.
Three-bedroom and larger units often sell at slight discounts per square meter as buyers focus more on total purchase price rather than per-unit-area cost. However, these properties may offer better value for families and investors seeking longer-term rental stability with higher absolute rental income.
The Montevideo market rewards efficiency in smaller units while offering value opportunities in larger properties, particularly in emerging neighborhoods where families can access more space at competitive per-square-meter rates while benefiting from potential neighborhood appreciation.
What's the average selling time for properties at the current price per square meter in Montevideo?
Properties in Montevideo's current market typically sell within 30-60 days for median-priced properties, particularly apartments in desirable central and coastal areas.
The Montevideo apartment market demonstrates strong liquidity, with well-priced units in established neighborhoods like Pocitos, Centro, and Cordón achieving faster sales due to consistent buyer demand and financing availability. Properties priced appropriately for their location and condition often attract multiple offers within the first month of listing.
Luxury properties and those in niche markets may require 90+ days for sale completion, reflecting smaller buyer pools and more complex financing requirements. Similarly, properties in low-demand peripheral zones may experience extended marketing periods despite lower per-square-meter pricing.
Market timing affects sales velocity, with the Montevideo property market showing seasonal patterns where spring and early summer months typically demonstrate faster transaction times due to increased buyer activity and favorable weather for property viewings.
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What are the projected trends for price per square meter in Montevideo over the next 12 months?
Montevideo's property market is projected to achieve 2-4% price appreciation through mid-2026, maintaining the steady growth pattern established in recent years.
Premium neighborhoods including Carrasco, Ciudad Vieja, and Centro are expected to outperform the citywide average with 3-5% growth rates, driven by urban redevelopment projects and infrastructure improvements. These areas benefit from ongoing investment in cultural amenities and transport connectivity that supports higher property values.
The long-term outlook for Montevideo's property market remains positive, with forecasts indicating stable 3-5% annual increases through 2035 barring major economic disruptions. This growth trajectory reflects Uruguay's political stability, growing expatriate interest, and ongoing urban development initiatives.
Coastal and waterfront properties are expected to maintain their premium positioning, with supply constraints and lifestyle demand supporting continued price appreciation above citywide averages. New construction in these areas may face development restrictions that further limit supply and support pricing power.
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 as of September 2025 offers diverse investment opportunities across a wide price spectrum, from affordable peripheral areas to premium coastal neighborhoods commanding over $4,000 per square meter.
The market demonstrates steady growth fundamentals with clear pricing patterns that reward location, property type, and timing decisions, making it an attractive destination for both investors and residents seeking stable real estate opportunities in South America.
Sources
- The Latinvestor - Montevideo Property Market
- Global Property Guide - Uruguay Square Meter Prices
- The Latinvestor - Montevideo Price Forecasts
- Aparthotel - Uruguay Market Analysis
- Global Property Guide - Uruguay Price History
- The Latinvestor - Uruguay Price Forecasts
- The Latinvestor - Average House Price Uruguay
- Living in Uruguay - Housing Market Guide
- Properstar - Montevideo House Prices
- Uruguay XXI - Construction and Real Estate