Investment by Price Range: What Yields More in Montevideo? — July 2026
INGAR · · Guides
Does investing less or investing more yield better in Montevideo?
Investing less yields more: apartments up to USD 115,000 carry a median gross yield of 7.5%, while those above USD 155,000 yield 5.6%. The difference is almost two percentage points, and it holds neighbourhood by neighbourhood.
To see it we sorted neighbourhoods into three groups by median total apartment price: affordable ticket (up to USD 115,000), mid ticket (USD 115,000 to USD 153,550) and high ticket (above USD 155,000). Each group holds 16 or 17 neighbourhoods.
The pattern is consistent with what the yield ranking already shows: rent rises far less than purchase price as you move up a category. What is interesting is exactly how much, and what you get in return for giving up those points.
What does a ticket of up to USD 115,000 yield?
The most profitable neighbourhood in this group is Cerro at 11.6% gross yield on a median price of USD 68,000, followed by Belvedere (11.3%) and Aires Puros (11.0%). The group as a whole has a median of 7.5%.
| Neighborhood | Median total price | Median floor area | Median rent | Gross yield | Net yield |
|---|---|---|---|---|---|
| Cerro | USD 68,000 | 70 m² | USD 449 | 11.6% | 7.5% |
| Belvedere | USD 82,500 | 63 m² | USD 530 | 11.3% | 7.3% |
| Aires Puros | USD 79,900 | 65 m² | USD 544 | 11.0% | 7.1% |
| Colón | USD 50,000 | 50 m² | USD 438 | 10.9% | 7.0% |
| Cerrito | USD 70,000 | 62 m² | USD 479 | 10.3% | 6.7% |
| Maroñas | USD 68,000 | 48 m² | USD 429 | 9.3% | 6.0% |
| Malvín Norte | USD 75,000 | 62 m² | USD 516 | 8.9% | 5.8% |
| La Teja | USD 57,000 | 55 m² | USD 469 | 7.7% | 5.0% |
| Reducto | USD 99,000 | 56 m² | USD 652 | 7.3% | 4.7% |
| Unión | USD 110,000 | 55 m² | USD 588 | 6.9% | 4.5% |
| Villa Española | USD 89,000 | 58 m² | USD 516 | 6.6% | 4.3% |
| Goes | USD 99,300 | 50 m² | USD 596 | 6.5% | 4.2% |
| Sayago | USD 77,000 | 57 m² | USD 460 | 6.5% | 4.2% |
| Brazo Oriental | USD 115,000 | 55 m² | USD 656 | 6.4% | 4.1% |
| Mercado Modelo | USD 108,000 | 60 m² | USD 586 | 5.6% | 3.6% |
| Ituzaingó | USD 75,000 | 65 m² | USD 532 | 5.6% | 3.6% |
This is the range most individual investors enter at, and also where the on-paper return diverges most from the real one. With rents of USD 430 to USD 550, one month of vacancy a year takes more than eight percentage points off annual income, and a USD 1,500 repair equals three months of rent. Management weighs far more heavily when the ticket is small.
Within the group there are liquidity differences worth watching: Colón and La Teja turn over in 1.2 and 1.1 months, while Belvedere and Cerrito carry 2.0. With similar returns, the exit is not equally easy.
What does a mid ticket of USD 115,000 to USD 155,000 yield?
The most profitable in this band is Atahualpa at 9.2%, followed by Paso Molino (8.0%) and Villa Dolores (7.9%). The group median is 6.2%, barely above the city median.
| Neighborhood | Median total price | Median floor area | Median rent | Gross yield | Net yield |
|---|---|---|---|---|---|
| Atahualpa | USD 130,000 | 65 m² | USD 616 | 9.2% | 6.0% |
| Paso Molino | USD 117,780 | 66 m² | USD 581 | 8.0% | 5.2% |
| Villa Dolores | USD 150,000 | 47 m² | USD 585 | 7.9% | 5.2% |
| Ciudad Vieja | USD 129,000 | 60 m² | USD 653 | 6.9% | 4.5% |
| La Comercial | USD 118,000 | 52 m² | USD 650 | 6.7% | 4.3% |
| Tres Cruces | USD 150,300 | 55 m² | USD 714 | 6.6% | 4.3% |
| Arroyo Seco | USD 116,500 | 66 m² | USD 574 | 6.5% | 4.2% |
| Villa Muñoz | USD 115,000 | 58 m² | USD 763 | 6.3% | 4.1% |
| La Blanqueada | USD 141,500 | 50 m² | USD 714 | 6.1% | 3.9% |
| Cordón | USD 143,000 | 50 m² | USD 712 | 5.9% | 3.8% |
| Jacinto Vera | USD 139,000 | 59 m² | USD 668 | 5.8% | 3.8% |
| Aguada | USD 150,000 | 58 m² | USD 648 | 5.7% | 3.7% |
| Bella Vista | USD 150,000 | 57 m² | USD 649 | 5.5% | 3.5% |
| Capurro - Bella Vista | USD 141,750 | 56 m² | USD 616 | 5.3% | 3.5% |
| Palermo | USD 153,550 | 48 m² | USD 734 | 5.3% | 3.4% |
| Larrañaga | USD 142,000 | 50 m² | USD 853 | 4.4% | 2.9% |
This is the central corridor band: Cordón, Centro, Tres Cruces, La Blanqueada, Ciudad Vieja, Aguada. It yields about a point less than the affordable band, but in exchange offers the most stable rental demand in the city, which is what sustains occupancy year-round. For an investor who does not want to spend time on management, it is usually the best balance.
Is a high ticket above USD 155,000 worth it?
The most profitable in this group is Punta Gorda at 6.4%, followed by Barrio Sur (6.0%) and Parque Batlle (5.9%). The band median is 5.6%, almost two points below the affordable band.
| Neighborhood | Median total price | Median floor area | Median rent | Gross yield | Net yield |
|---|---|---|---|---|---|
| Punta Gorda | USD 226,000 | 76 m² | USD 1,776 | 6.4% | 4.1% |
| Barrio Sur | USD 155,081 | 53 m² | USD 747 | 6.0% | 3.9% |
| Parque Batlle | USD 164,640 | 57 m² | USD 742 | 5.9% | 3.9% |
| Carrasco | USD 420,000 | 111 m² | USD 1,952 | 5.9% | 3.9% |
| Centro | USD 155,000 | 58 m² | USD 677 | 5.8% | 3.8% |
| Prado | USD 159,000 | 60 m² | USD 663 | 5.7% | 3.7% |
| Golf | USD 670,000 | 170 m² | USD 2,894 | 5.7% | 3.7% |
| Carrasco Norte | USD 385,800 | 102 m² | USD 2,244 | 5.7% | 3.7% |
| Buceo | USD 170,100 | 55 m² | USD 761 | 5.6% | 3.6% |
| Puerto Buceo | USD 350,000 | 90 m² | USD 1,626 | 5.5% | 3.5% |
| Punta Carretas | USD 266,700 | 71 m² | USD 1,117 | 5.4% | 3.5% |
| Malvín | USD 200,956 | 61 m² | USD 840 | 5.3% | 3.4% |
| Capurro | USD 171,834 | 60 m² | USD 548 | 5.2% | 3.4% |
| Pocitos Nuevo | USD 187,900 | 54 m² | USD 813 | 5.1% | 3.3% |
| Pocitos | USD 240,000 | 67 m² | USD 883 | 5.1% | 3.3% |
| Parque Rodó | USD 195,500 | 53 m² | USD 744 | 4.9% | 3.2% |
| Villa Biarritz | USD 430,000 | 120 m² | USD 1,154 | 4.9% | 3.2% |
Here current yield stops being the main argument. What you buy is resale liquidity, demand from higher-income tenants and a much less volatile price series. Villa Biarritz is the extreme example: a 4.9% yield and 31 years of rent to cover the price, in one of the most sought-after neighbourhoods in the city.
A caveat on conceptual sample size: in this band the neighbourhood median hides considerable dispersion, because very different units coexist. The neighbourhood figure works as an area reference, not as an estimate of what a specific property will yield.
Apartment or house to invest in?
Houses yield more in 37 of the 44 neighbourhoods where the index publishes both types. The widest gaps are in La Teja (13.7% for houses against 7.7% for apartments), Villa Española (12.5% against 6.6%) and Bella Vista (9.7% against 5.5%).
| Neighborhood | Houses gross yield | Apartments gross yield | Difference |
|---|---|---|---|
| La Teja | 13.7% | 7.7% | +6.0 pp |
| Villa Española | 12.5% | 6.6% | +5.8 pp |
| Capurro | 9.6% | 5.2% | +4.4 pp |
| Bella Vista | 9.7% | 5.5% | +4.3 pp |
| Goes | 10.6% | 6.5% | +4.1 pp |
| Ituzaingó | 9.6% | 5.6% | +4.1 pp |
| Palermo | 9.2% | 5.3% | +3.9 pp |
| Ciudad Vieja | 10.7% | 6.9% | +3.8 pp |
| Unión | 10.6% | 6.9% | +3.7 pp |
| Sayago | 9.9% | 6.5% | +3.4 pp |
| Brazo Oriental | 9.3% | 6.4% | +2.9 pp |
| Larrañaga | 7.3% | 4.4% | +2.9 pp |
| Villa Muñoz | 8.9% | 6.3% | +2.6 pp |
| Barrio Sur | 8.4% | 6.0% | +2.4 pp |
| Cordón | 8.2% | 5.9% | +2.3 pp |
| Parque Rodó | 7.2% | 4.9% | +2.3 pp |
| Pocitos Nuevo | 7.4% | 5.1% | +2.3 pp |
| Aguada | 7.9% | 5.7% | +2.2 pp |
| Buceo | 7.6% | 5.6% | +2.0 pp |
| La Blanqueada | 7.9% | 6.1% | +1.8 pp |
| Tres Cruces | 8.4% | 6.6% | +1.8 pp |
| Jacinto Vera | 7.5% | 5.8% | +1.7 pp |
| Puerto Buceo | 7.0% | 5.5% | +1.6 pp |
| Centro | 7.2% | 5.8% | +1.4 pp |
| La Comercial | 8.0% | 6.7% | +1.3 pp |
| Reducto | 8.5% | 7.3% | +1.2 pp |
| Parque Batlle | 7.2% | 5.9% | +1.2 pp |
| Pocitos | 6.2% | 5.1% | +1.1 pp |
| Punta Carretas | 6.4% | 5.4% | +1.1 pp |
| Malvín | 6.1% | 5.3% | +0.8 pp |
| Punta Gorda | 7.1% | 6.4% | +0.7 pp |
| Malvín Norte | 9.6% | 8.9% | +0.7 pp |
| Maroñas | 9.8% | 9.3% | +0.4 pp |
| Cerrito | 10.6% | 10.3% | +0.4 pp |
| Paso Molino | 8.3% | 8.0% | +0.3 pp |
| Cerro | 11.8% | 11.6% | +0.2 pp |
| Prado | 5.8% | 5.7% | +0.0 pp |
| Carrasco | 5.9% | 5.9% | -0.0 pp |
| Carrasco Norte | 5.5% | 5.7% | -0.2 pp |
| Atahualpa | 8.5% | 9.2% | -0.7 pp |
| Villa Dolores | 6.9% | 7.9% | -1.0 pp |
| Colón | 9.3% | 10.9% | -1.6 pp |
| Aires Puros | 8.1% | 11.0% | -2.9 pp |
| Belvedere | 8.3% | 11.3% | -3.0 pp |
The few neighbourhoods where apartments win are in the affordable north: Colón, Aires Puros and Belvedere. These are areas where apartments are scarce and flat rentals have a captive demand that houses do not.
The discount to apply mentally to the house advantage is its own maintenance: roof, damp, wiring and exterior fall on the owner and are not shared through building fees.
Conclusion
If the goal is maximising income, an affordable ticket in liquid neighbourhoods (Colón, Cerro, La Teja) is the best entry point, on condition of taking on active management. If the goal is stable income with little work, the mid band of the central corridor yields a point less and makes up for it in occupancy. And if the goal is preserving capital, the high ticket yields a median 5.6% and pays in liquidity what it does not pay in rent.
Read on: best neighbourhoods to invest in and price versus return comparison.
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.