Guide to Buying Your First Home in Montevideo — July 2026
INGAR · · Guides
How much do you need to buy your first home in Montevideo?
The median Montevideo apartment costs USD 141,750, but half the neighbourhoods sit below that figure and in several the median price does not reach USD 100,000. USD 80,000 already buys in quite a few neighbourhoods; USD 150,000 opens up almost the entire central corridor.
The table shows neighbourhoods with a price per square metre below the city median, sorted from lowest to highest, with median total price, typical floor area and the months of supply that indicate how quickly listings turn over.
| Neighborhood | USD/m² | Median total price | Median floor area | Months of supply | Supply |
|---|---|---|---|---|---|
| Cerro | USD 967/m² | USD 68,000 | 70 m² | 1.4 | Low |
| Colón | USD 998/m² | USD 50,000 | 50 m² | 1.2 | Low |
| Ituzaingó | USD 1,141/m² | USD 75,000 | 65 m² | 1.8 | Low |
| Cerrito | USD 1,171/m² | USD 70,000 | 62 m² | 2.0 | Low |
| Malvín Norte | USD 1,177/m² | USD 75,000 | 62 m² | 1.1 | Medium |
| La Teja | USD 1,222/m² | USD 57,000 | 55 m² | 1.1 | Low |
| Maroñas | USD 1,259/m² | USD 68,000 | 48 m² | 1.7 | Low |
| Aires Puros | USD 1,308/m² | USD 79,900 | 65 m² | 1.6 | Low |
| Sayago | USD 1,369/m² | USD 77,000 | 57 m² | 1.2 | Low |
| Villa Española | USD 1,437/m² | USD 89,000 | 58 m² | 1.8 | Medium |
| Belvedere | USD 1,449/m² | USD 82,500 | 63 m² | 2.0 | Low |
| Paso Molino | USD 1,667/m² | USD 117,780 | 66 m² | 2.2 | Low |
| Reducto | USD 1,865/m² | USD 99,000 | 56 m² | 1.4 | Medium |
| Atahualpa | USD 1,920/m² | USD 130,000 | 65 m² | 1.4 | Medium |
| Villa Muñoz | USD 1,922/m² | USD 115,000 | 58 m² | 1.9 | Low |
| Unión | USD 1,956/m² | USD 110,000 | 55 m² | 1.7 | Medium |
| Mercado Modelo | USD 1,976/m² | USD 108,000 | 60 m² | 1.5 | Low |
| Arroyo Seco | USD 2,048/m² | USD 116,500 | 66 m² | 1.1 | Low |
| Brazo Oriental | USD 2,095/m² | USD 115,000 | 55 m² | 1.6 | Medium |
| Goes | USD 2,115/m² | USD 99,300 | 50 m² | 1.6 | Low |
| Ciudad Vieja | USD 2,152/m² | USD 129,000 | 60 m² | 1.7 | Medium |
| La Comercial | USD 2,267/m² | USD 118,000 | 52 m² | 1.6 | Medium |
| Jacinto Vera | USD 2,365/m² | USD 139,000 | 59 m² | 1.7 | Medium |
| Capurro - Bella Vista | USD 2,476/m² | USD 141,750 | 56 m² | 1.5 | Low |
| Bella Vista | USD 2,486/m² | USD 150,000 | 57 m² | 2.0 | Medium |
What does USD 80,000 buy?
USD 80,000 gets you into Colón (USD 50,000 median price), Cerro (USD 68,000), Maroñas (USD 68,000), Cerrito (USD 70,000), Malvín Norte (USD 75,000), Ituzaingó (USD 75,000), Sayago (USD 77,000) and Aires Puros (USD 79,900).
Of that group, the standout for living in is Malvín Norte: it sits on the eastern coast next to Malvín, has the fastest turnover in the group (1.1 months) and costs a third of its neighbour. Sayago and Ituzaingó are solid alternatives if your work is in the north or centre and floor area is the priority.
And with USD 120,000?
That budget opens access to the central corridor: Goes (USD 99,300), Reducto (USD 99,000), Unión (USD 110,000), Mercado Modelo (USD 108,000), Brazo Oriental (USD 115,000), Villa Muñoz (USD 115,000), Arroyo Seco (USD 116,500) and La Comercial (USD 118,000).
This is the band where price, connectivity and neighbourhood life balance best. All are less than 20 minutes from the centre by public transport, have established local shops and a median floor area that allows two bedrooms without stretching the budget.
What can you get with USD 150,000?
USD 150,000 reaches the heart of the central corridor: Cordón (USD 143,000 median price), Tres Cruces (USD 150,300), La Blanqueada (USD 141,500), Aguada (USD 150,000), Bella Vista (USD 150,000) and Ciudad Vieja (USD 129,000).
These neighbourhoods have stable rental demand, which matters even if you plan to live there: it means resale has a natural market of investor buyers on top of those looking for a home. Cordón and Tres Cruces are the most liquid in the group, at 1.7 and 1.5 months of supply.
What costs come on top of the property price?
On top of the listed price come transaction costs, which in Uruguay run between 8% and 10% of the purchase value and include notary fees with their contributions, agency commission, the property transfer tax and the stamps and certificates of the process.
On a USD 120,000 apartment that means an additional USD 9,600 to USD 12,000 to plan for from the outset. If the purchase involves a mortgage, add the bank's appraisal, the cost of registering the mortgage and any insurance the loan requires.
One detail often overlooked: building fees. In Montevideo they range from USD 60 to USD 200 a month depending on services and amenities, and they are a permanent fixed cost that does not appear in the purchase price yet weighs as much as an instalment.
What mistakes should you avoid?
The first is comparing neighbourhoods on price per square metre alone. Two neighbourhoods with the same value per square metre can have very different total prices depending on the typical unit size; for someone buying to live in, total price and floor area rule.
The second is ignoring neighbourhood liquidity. A cheap property in an area where supply takes time to be absorbed can be hard to resell when your plans change. The months of supply in the table are the best available indicator of that.
The third is taking a single month's change as a trend. In affordable neighbourhoods the monthly median moves considerably with what happens to be listed; check the year-to-date figure before concluding that a neighbourhood is rising or falling.
Conclusion
Buying a first home in Montevideo is possible from around USD 50,000 in the most affordable neighbourhoods and from about USD 100,000 in the central corridor, adding 8% to 10% in transaction costs. The practical advice: set your total budget including those costs, filter by total price rather than price per square metre, and use months of supply to rule out areas that would be hard to exit later.
Read on: price rankings by neighbourhood, cost of living by neighbourhood and buying opportunities.
Frequently asked questions
How often is this data updated?
It is recalculated once a month, with the previous month's close, and published alongside the INGAR Index.
Where do these prices come from?
From our own survey of publicly listed supply in Montevideo: these are asking prices, not closing prices. In Uruguay deals usually close below the listed value.
Want to decide with data instead of gut feel? See how to invest in Uruguay, get an online property appraisal or message us on WhatsApp.
This data is part of the INGAR Index, the monthly index of Montevideo's real estate market, with a data sheet per neighbourhood and a public methodology.
Updated with the 2026-07 close. Source: INGAR Index, the monthly index of Montevideo's real estate market.
Data from the INGAR Index — 2026-07.