Costs of Buying a Property in Uruguay (2026): ITP and More
INGAR · · Purchase
The real figure: how much buying costs beyond the price
If you're looking at an apartment priced at USD 150,000, you'll need between USD 162,000 and USD 165,000. If you're looking at one priced at USD 200,000, count on at least USD 216,000. The difference is made up of purchase costs: taxes, notary fees, real-estate commission, registration and administrative expenses.
Many buyers only find out about these costs after they've already signed the reservation. At that point it's too late to renegotiate, and they end up scrambling to borrow money or cutting corners. Better to know from the start.
This guide details every cost with concrete figures. If you want to see the complete buying process, check our step-by-step guide to buying an apartment in Uruguay.
Quick summary: how much to add to the price
| Type of purchase | Estimated additional costs |
|---|---|
| Cash, without real-estate agent | 5% to 6% of the price |
| Cash, with real-estate agent | 8% to 10% of the price |
| With mortgage, with real-estate agent | 10% to 13% of the price |
Now let's look at each cost in detail.
1. ITP (Impuesto a las Transmisiones Patrimoniales — Property Transfer Tax)
The ITP is the tax the State charges for transferring a property. It's the "mandatory" cost that is always present.
How much is it?
The total rate is 4%, split equally:
- 2% paid by the buyer
- 2% paid by the seller
On what amount is it calculated?
Here's something almost nobody knows that's worth understanding: the ITP is not calculated on the sale price. It is calculated on the assessed value set by the Dirección Nacional de Catastro, updated monthly by the CPI (Consumer Price Index).
In the vast majority of cases, the cadastral value is significantly lower than the market price. That means the effective ITP you pay as a buyer is usually considerably less than 2% of the actual price.
Concrete example
You buy an apartment for USD 150,000. The updated cadastral assessed value equals approximately USD 90,000 (a common figure in Montevideo). Your ITP as the buyer:
- 2% of USD 90,000 = USD 1,800 (not USD 3,000 as you would have calculated on the sale price)
To find the exact amount before making an offer, ask your notary to look up the current assessed value of the property. It's information that can be obtained quickly.
Exemptions
- Promoted housing (Law 18.795): the first sale of units in promoted-housing projects is exempt from ITP. If you're buying new construction in a promoted project, this cost disappears.
Who pays in practice?
The law says 2% each. But in negotiations, the buyer sometimes ends up absorbing a larger share, or the seller agrees to cover both portions to close the deal. It's negotiable — what isn't negotiable is the total amount of the tax.
2. Notary fees
The notary is probably the most important professional in the transaction. They conduct the title search, request the certificates, draft the deed, and file it. Without a notary there is no sale.
How much do they charge?
The standard fee is 3% of the transaction price + VAT (22%). Effective rate: 3.66%.
For an apartment at USD 150,000:
- 3% = USD 4,500
- + VAT (22%) = USD 990
- Total: USD 5,490
What is included?
- Title search (review of the chain of ownership over the last 30 years).
- Requesting and analysing between 8 and 12 certificates (DGI, BPS, Property Registry, etc.).
- Drafting the deed of sale.
- Filing with the Property Registry.
- Withholding and paying the ITP to DGI.
If a promise of sale is signed before the final deed, the notary generally charges 1.5% for the promise and the remaining 1.5% at the time of the final deed. The total remains 3%.
An important point
There is no fixed fee regulated by law for notaries. The 3% is standard practice and the market reference, but it can be negotiated. Some notaries charge a flat fee for lower-value transactions. It is always a good idea to request a written quote before proceeding.
More about the notary's role in what a notary does in a sale and how much it costs.
3. Real-estate commission
If you buy through a real-estate agency, there is a commission. The standard rate in Uruguay (established by the Cámara Inmobiliaria Uruguaya as a reference, not a legal obligation) is:
- 3% + VAT (22%) = 3.66% of the sale price
- Charged to each party: the buyer pays 3.66% and the seller pays 3.66%.
For an apartment at USD 150,000:
- Your commission as the buyer: USD 5,490
In practice, the commission is negotiable. Some agencies charge less; others charge more for additional services. The important thing is to agree on it in writing before moving forward with the offer.
Can you buy without a real-estate agent?
Yes. If you buy directly from the owner (a private sale), there is no commission. But you lose the intermediary, the screening of options, and in some cases access to properties that are only listed through agencies. It's a cost-benefit decision.
4. Registry fees, stamps and registrations
In addition to the notary's fee, there are registration and stamp costs paid separately:
- Registration with the Real Property Registry
- Notarial stamps (mandatory fiscal stamps on legal documents)
- Registry certificates (registry information to verify the property's status)
These costs are smaller compared to the others, but they add up. Estimate between USD 300 and USD 800 depending on the complexity of the transaction. Your notary will detail them in the quote.
5. Bank charges (if buying with a mortgage)
When a bank is involved, additional loan-specific costs arise:
| Item | Estimated amount |
|---|---|
| Property appraisal | USD 200 – 500 |
| Loan origination fee | 1% to 2% of the loan amount |
| Life insurance (mandatory) | Monthly instalment included in the loan |
| Fire insurance (mandatory) | Monthly instalment included in the loan |
| Bank notary (bank notarial procedure) | Variable — check with the bank |
The total additional cost of financing with a mortgage can be 2% to 4% of the loan amount, plus the monthly insurance premiums that become part of your instalment.
Complete guide on mortgages in mortgage loans in Uruguay.
6. Costs people forget
These are not "purchase costs" in the strict sense, but they are expenses that appear in the weeks after signing the deed and that are worth budgeting for:
- Change of utility ownership: UTE, OSE, gas. Each has its own process and sometimes requires deposits.
- Moving costs: depending on distance and volume, between USD 200 and USD 800.
- Basic fit-out: painting, deep cleaning, minor repairs. With a used property, it's rare that there's nothing to do.
- First month of common expenses: in a condominium, you start paying from the day of the deed.
- BPS construction certificate: if there were undeclared renovations or extensions, there may be a regularisation cost. More at BPS construction certificate: what it is and how to verify it.
Full example: USD 150,000 apartment, cash, with real-estate agent
| Item | Amount |
|---|---|
| Apartment price | USD 150,000 |
| ITP (2% of cadastral value, estimated) | USD 1,800 |
| Notary (3% + VAT) | USD 5,490 |
| Real-estate commission (3% + VAT) | USD 5,490 |
| Registry fees, stamps and expenses | USD 600 |
| Total | USD 163,380 |
| Costs as % of price | 8.9% |
Full example: USD 200,000 apartment, with mortgage and real-estate agent
Assuming a loan for 80% of the value (USD 160,000):
| Item | Amount |
|---|---|
| Apartment price | USD 200,000 |
| Own capital (20%) | USD 40,000 |
| ITP (2% of cadastral value, estimated) | USD 2,500 |
| Notary (3% + VAT) | USD 7,320 |
| Real-estate commission (3% + VAT) | USD 7,320 |
| Registry fees, stamps and expenses | USD 700 |
| Bank appraisal | USD 400 |
| Loan origination fee (1.5% of loan) | USD 2,400 |
| Total initial outlay | USD 60,640 |
| Costs as % of price | 10.3% |
In this case, in addition to the 20% own capital you also need a further USD 20,640 available to cover the costs. Many buyers who take out the maximum possible mortgage (80%) fall short here.
Who pays what? Summary
| Cost | Paid by buyer | Paid by seller |
|---|---|---|
| ITP | 2% (their share) | 2% (their share) |
| Buyer's notary | Yes (3% + VAT) | No |
| Seller's notary (if any) | No | Yes |
| Real-estate commission | 3% + VAT | 3% + VAT |
| Registry and filing fees | Generally yes | — |
| Bank charges | Yes (if mortgage) | — |
| IRPF on capital gain from sale | — | Yes (12% on gain) |
Three things that can save you money
- Promoted housing: if you buy the first sale of a project under Law 18.795, you don't pay ITP. On a USD 150,000 apartment, that saves you USD 1,800 or more.
- Direct purchase (without an agent): you save 3.66% of the price. On USD 150,000, that's USD 5,490. But evaluate whether you really don't need the intermediary.
- Negotiating notary fees: 3% is the benchmark, not a legal minimum. On high-value transactions, many notaries accept a lower percentage or a flat fee. There's nothing wrong with asking.
The most expensive mistake
Making an offer at the limit of your budget without accounting for costs. Example: you have USD 150,000 saved, you offer on an apartment priced at USD 150,000, and when you reach the deed you're short USD 13,000 to cover the notary, ITP and commission. At that point you can't back out without losing the deposit.
Simple rule: from the apartment price you can afford, subtract 10%. That is your real search price. If you have USD 150,000, search up to USD 135,000. If you have USD 200,000, search up to USD 180,000. That way you'll reach the deed without stress.
Sources
- DGI — Consolidated Text, Title 19: ITP, tax base (Art. 5)
- DGI — Consolidated Text, Title 19: ITP, rates (Art. 7)
- Asociación de Escribanos del Uruguay — Fee reference.
- Cámara Inmobiliaria Uruguaya — Commission reference.