Guide to Buying Your First Home in Montevideo — June 2026
INGAR · · Guides
How much do you need to buy in Montevideo?
The median price in Montevideo is USD 2,033/m² in June 2026. For a first-time buyer, this means that your actual available budget determines what type of property and in what area you can access.
Here's what you can get with different budgets:
- With USD 80,000: You can access properties in neighborhoods like Nuevo París, Cerro or Piedras Blancas. You can find a 1-bedroom apartment of 70-90 m² with some age on it, or a more modern studio. Neighborhoods with good connectivity and public transportation.
- With USD 120,000: The market opens up considerably. You enter areas like Colón, Peñarol, Santiago Vázquez or Paso de la Arena. You can target a 2-bedroom of about 100-120 m², or a 1-bedroom in better condition. Some with a balcony or small patio.
- With USD 150,000: You're already in mid-range neighborhoods with more services: Manga, Cerrito, Jardines del Hipódromo or Las Canteras. A 2-bedroom of 120-140 m² in acceptable condition, or a 3-bedroom that's older. Better commercial and educational infrastructure in the area.
Additional costs you can't ignore: Beyond the purchase price, budget between 8% and 12% for notary (2-3%), transfer taxes (7-8%) and technical inspection. If you finance with BHU (Banco Hipotecario del Uruguay), you need a down payment of 20-30% of the purchase value and the monthly payment will be between 15% and 25% of your verified monthly income.
Accessible neighborhoods with good quality of life
| Neighborhood | USD/m² | 1 Bed Price | 2 Bed Price | DOM | Change % | Sample |
|---|---|---|---|---|---|---|
| Nuevo París | USD 939/m² | N/D | N/D | 117 | 1.7% | 171 |
| Cerro | USD 952/m² | N/D | N/D | 55 | -2.5% | 199 |
| Piedras Blancas | USD 953/m² | N/D | N/D | 288 | 2.4% | 64 |
| Colón | USD 958/m² | N/D | N/D | 117 | -0.4% | 381 |
| Belvedere | USD 1,002/m² | N/D | N/D | 365 | -1.8% | 381 |
| Paso de la Arena | USD 1,012/m² | N/D | N/D | N/D | 0.4% | 301 |
| Peñarol | USD 1,015/m² | N/D | N/D | 117 | -1.0% | 306 |
| Las Acacias | USD 1,021/m² | N/D | N/D | 364 | -1.2% | 37 |
| Santiago Vázquez | USD 1,041/m² | N/D | N/D | N/D | 0.5% | 510 |
| Tres Ombúes | USD 1,044/m² | N/D | N/D | N/D | 0.3% | 255 |
| Manga | USD 1,078/m² | N/D | N/D | N/D | 2.1% | 197 |
| Jardines del Hipódromo | USD 1,089/m² | N/D | N/D | N/D | 4.5% | 289 |
| Cerrito | USD 1,113/m² | N/D | N/D | 86 | 3.1% | 263 |
| Las Canteras | USD 1,143/m² | N/D | N/D | N/D | 6.2% | 441 |
| Curva de Maroñas | USD 1,143/m² | N/D | N/D | N/D | 6.2% | 441 |
| Punta Rieles | USD 1,153/m² | N/D | N/D | 75 | 9.0% | 193 |
| Lezica | USD 1,196/m² | N/D | N/D | 117 | 9.5% | 203 |
| Flor de Maroñas | USD 1,198/m² | N/D | N/D | 313 | 7.3% | 286 |
| Maroñas | USD 1,223/m² | N/D | N/D | 116 | 1.6% | 246 |
| La Teja | USD 1,310/m² | N/D | N/D | 117 | -3.2% | 110 |
| Bella Italia | USD 1,315/m² | N/D | N/D | N/D | 22.8% | 97 |
| Malvín Norte | USD 1,324/m² | N/D | N/D | 267 | 0.8% | 952 |
| Marconi | USD 1,435/m² | N/D | N/D | N/D | 1.6% | 2,047 |
| Casavalle | USD 1,435/m² | N/D | N/D | N/D | -4.6% | 2,047 |
| Conciliación | USD 1,499/m² | N/D | N/D | 55 | 2.8% | 1,301 |
| Bolívar | USD 1,584/m² | N/D | N/D | N/D | 2.9% | 1,397 |
| Bañados de Carrasco | USD 1,646/m² | N/D | N/D | 200 | 4.6% | 191 |
| Villa Española | USD 1,674/m² | N/D | N/D | 117 | 5.0% | 549 |
| Aires Puros | USD 1,756/m² | N/D | N/D | 102 | 1.7% | 197 |
| La Figurita | USD 1,779/m² | N/D | N/D | 204 | -41.7% | 55 |
| Paso Molino | USD 1,794/m² | N/D | N/D | 97 | -0.2% | 206 |
| Ituzaingó | USD 1,800/m² | N/D | N/D | 75 | 3.0% | 226 |
| Unión | USD 1,801/m² | N/D | N/D | 117 | 3.5% | 2,105 |
| Sayago | USD 1,820/m² | N/D | N/D | 365 | 2.4% | 264 |
| Reducto | USD 1,905/m² | N/D | N/D | 352 | 0.9% | 501 |
| Atahualpa | USD 1,932/m² | N/D | N/D | 188 | 0.4% | 291 |
| Goes | USD 2,033/m² | N/D | N/D | 365 | 0.5% | 303 |
If you look at this table, you'll find very different opportunities depending on what your priority is. Cerro stands out with DOM of 55 days (quick sale) and price of USD 952/m², although it has slight contraction (-2.5%). Colón is stable with 381 listings for sale, which indicates good liquidity.
In the USD 1,000-1,100/m² range you have consolidated neighborhoods: Paso de la Arena (301 listings), Peñarol (306 listings) and Jardines del Hipódromo with growth of 4.5%. These are areas with complete services, direct public transportation and neighborhood commerce.
For more detailed information about each area, check the Price ranking by neighborhood and the Cost of living by neighborhood.
What to expect for less than USD 150,000?
With a budget of up to USD 150,000 the picture is much more accessible than a couple of years ago. In neighborhoods like Nuevo París, Cerro, Colón or Peñarol you can find:
- Studio: 60-75 m², possibly with a balcony, in buildings from the '80s-'90s. Quiet area, direct bus access, basic commerce within the neighborhood.
- 1 bedroom: 75-95 m², with separate kitchen and decent bathroom. Some may be ground floor with backyard. Age between 20-40 years is most common.
- 2 bedrooms: Possible in more remote neighborhoods like Santiago Vázquez, Tres Ombúes or Paso de la Arena. You'll get around 110-130 m² for a standard 2-bedroom, with integrated kitchen-dining and single bathroom.
What don't expect: modern amenities, large common areas, private parking (with rare exceptions). You'll probably find properties that need cosmetic updates. Structural condition is key: check for leaks, electrical installations and plumbing before deciding.
The advantage: these neighborhoods are connected. You have buses every 10-15 minutes to the Center, access to health centers, quality public schools and basic commerce without having to go to another neighborhood.
Growing neighborhoods
| Neighborhood | USD/m² | Change % | DOM |
|---|---|---|---|
| Bella Italia | USD 1,315/m² | 22.8% | N/D |
| Lezica | USD 1,196/m² | 9.5% | 117 |
| Punta Rieles | USD 1,153/m² | 9.0% | 75 |
| Flor de Maroñas | USD 1,198/m² | 7.3% | 313 |
| Las Canteras | USD 1,143/m² | 6.2% | N/D |
| Curva de Maroñas | USD 1,143/m² | 6.2% | N/D |
| Villa Española | USD 1,674/m² | 5.0% | 117 |
| Bañados de Carrasco | USD 1,646/m² | 4.6% | 200 |
| Jardines del Hipódromo | USD 1,089/m² | 4.5% | N/D |
| Unión | USD 1,801/m² | 3.5% | 117 |
| Cerrito | USD 1,113/m² | 3.1% | 86 |
| Ituzaingó | USD 1,800/m² | 3.0% | 75 |
| Bolívar | USD 1,584/m² | 2.9% | N/D |
| Conciliación | USD 1,499/m² | 2.8% | 55 |
| Piedras Blancas | USD 953/m² | 2.4% | 288 |
| Sayago | USD 1,820/m² | 2.4% | 365 |
| Manga | USD 1,078/m² | 2.1% | N/D |
| Nuevo París | USD 939/m² | 1.7% | 117 |
| Aires Puros | USD 1,756/m² | 1.7% | 102 |
| Marconi | USD 1,435/m² | 1.6% | N/D |
| Maroñas | USD 1,223/m² | 1.6% | 116 |
| Reducto | USD 1,905/m² | 0.9% | 352 |
| Malvín Norte | USD 1,324/m² | 0.8% | 267 |
| Goes | USD 2,033/m² | 0.5% | 365 |
| Santiago Vázquez | USD 1,041/m² | 0.5% | N/D |
| Paso de la Arena | USD 1,012/m² | 0.4% | N/D |
| Atahualpa | USD 1,932/m² | 0.4% | 188 |
| Tres Ombúes | USD 1,044/m² | 0.3% | N/D |
Bella Italia is the most aggressive case: 22.8% annual growth. It's a neighborhood that's renewing itself with private investment in commerce and services. High entry point (USD 1,315/m²), but with strong appreciation potential if the trend continues. Risk: demand may stabilize.
Lezica, Punta Rieles and Flor de Maroñas show sustained growth of 7-9.5%. These are middle-class areas that are improving infrastructure. Lezica has DOM of 117 days (normal sale), which indicates an active market without excessive pressure. These are more accessible neighborhoods for first-home purchase with appreciation prospects.
Jardines del Hipódromo grows 4.5% with a price of USD 1,089/m² — it's an interesting entry into rising neighborhoods without paying excessive premium. A family-oriented area with schools and green spaces.
To explore all options, check out Buying Opportunities.
Common mistakes of the first-time buyer
1. Looking only at price per square meter. A bargain of USD 950/m² in a neighborhood without services isn't such a bargain if you later spend on transportation or services. Verify where you're buying, what's 500 meters away (pharmacy, grocery store, bus stop).
2. Not differentiating between asking price and closing price. The prices you see here are what the seller is asking. In Uruguay, purchases usually close 5-10% below asking. If you see USD 120,000, prepare USD 108,000-114,000 as realistic budget.
3. Ignoring common expenses. A building at USD 110,000 but with HOA fees of USD 200/month is more expensive than one at USD 115,000 with USD 80/month. Multiply HOA fees by 360 months (30 years) and add it to the price.
4. Not reviewing documentation or structural condition. Ask for the title deed, verify there are no municipal tax debts, check for roof, foundation or installation defects. A major repair can cost USD 10,000+.
5. Not negotiating with the notary. Some charge a flat fee, others are flexible. A notary outside the bank can cost 30% less. Comparing saves money.
6. Buying without clear financing. If you need BHU, find out first if you qualify. Don't move forward in negotiations without pre-approval. Otherwise, you'll waste time and money on inspections.
Conclusion
Montevideo has real options for first-time buyers. With a budget of USD 80,000 to USD 150,000 you can access stable neighborhoods, with transportation and complete services. The June 2026 data shows there's variety: from very accessible neighborhoods in the west (Nuevo París USD 939/m²) to growing areas that combine reasonable price with expected appreciation (Lezica USD 1,196/m² with +9.5%).
The key is don't rush. Visit at least 5-8 properties per price range, have them reviewed by a professional, negotiate the closing (there's always room), and make sure the location allows you to live without financial stress. Your first home is a decision that impacts 20-30 years. The numbers are there; what's missing is your decision.
Updated: June 2026. Source: INGAR analysis based on current real estate offerings in Montevideo.