Belvedere real estate data — Índice INGAR

How much does a square meter cost in Belvedere, Montevideo?

An apartment in Belvedere costs a median of USD 1,449 per m² in July 2026, +11.2% versus the previous month.

In July 2026, Belvedere ranks #39 of 49 published neighborhoods by price per m² in apartments (#1 = most expensive). The median asking price is USD 82,500 for a typical surface of 63 m². Versus the previous month the price per m² moved +11.2%; since the series began (March 2026) it accumulates +34.5%. Supply in the neighborhood is low relative to the rest of the city, with 2.0 months of inventory at the current sales pace. Estimated capital appreciation for the area is +3.4% per year; unlike the other figures in this section, this one is calculated from official INE and DGI series, not from our own survey. Figures reflect asking prices from the Índice INGAR, not closed transactions.

Apartments — July 2026

Median USD/m² (USD/m²)

USD 1,449

P25–P75 (USD/m²)

991 – 1,686

Median price (USD)

USD 82,500

Median surface

63 m²

MoM change

+11.2%

Change since series start

+34.5%

Median rent (USD/mo)

USD 530

Estimated gross yield

11.3% estimated

Estimated net yield

7.3% estimated

Months of supply

2.0

Absorption rate

51.1%

Estimated capital appreciation (INE + DGI)

+3.4%

Supply

Low

What rental yield does an apartment in Belvedere produce?

An apartment in Belvedere yields an estimated 11.3% gross per year in July 2026 (7.3% estimated net), with a median rent of USD 530 per month. These are estimates over asking prices, not guaranteed returns.

How the net yield is estimated (total deduction of 35.16%) →

Monthly series — Apartments

* Yields are estimates based on asking prices, not promised returns. See methodology. The series starts in March 2026; cumulative change is measured from that start.

Source: Índice INGAR — our own market survey (asking prices).

How much does a house cost in Belvedere, Montevideo?

A house in Belvedere has a median asking price of USD 156,000 in July 2026 (USD 925/m², typical surface 150 m²), -1.7% versus the previous month.

In July 2026, Belvedere ranks #41 of 55 published neighborhoods by price per m² in houses (#1 = most expensive). Versus the previous month the price per m² moved -1.7%; since the series began (March 2026) it accumulates +8.8%. Supply in the neighborhood is medium relative to the rest of the city, with 1.9 months of inventory at the current sales pace. Estimated capital appreciation for the area is +3.4% per year; unlike the other figures in this section, this one is calculated from official INE and DGI series, not from our own survey. Figures reflect asking prices from the Índice INGAR, not closed transactions.

Houses — July 2026

Median USD/m² (USD/m²)

USD 925

P25–P75 (USD/m²)

685 – 1,283

Median price (USD)

USD 156,000

Median surface

150 m²

MoM change

-1.7%

Change since series start

+8.8%

Median rent (USD/mo)

USD 641

Estimated gross yield

8.3% estimated

Estimated net yield

5.4% estimated

Months of supply

1.9

Absorption rate

53.7%

Estimated capital appreciation (INE + DGI)

+3.4%

Supply

Medium

Monthly series — Houses

* Yields are estimates based on asking prices, not promised returns. See methodology. The series starts in March 2026; cumulative change is measured from that start.

Source: Índice INGAR — our own market survey (asking prices).

How much is rent in Belvedere, Montevideo?

The average rent in Belvedere was UYU 19,671 (USD 492) in May 2026, based on real contracts registered with the DGI (Uruguay's tax agency) and published by the INE (national statistics institute).

Year over year it moved +8.9% in pesos (+13.5% in dollars). The average comes from 438 new contracts registered over the last 12 months (rolling annual average). INE publishes with a lag of about three months; the figure is an average per contract, with no breakdown by property type or size.

Monthly series — Official rent (INE)

Source: INE (Real Estate Activity Index — Rentals, based on contracts registered with the DGI). USD conversion: Ingar, using the BCU exchange rate.

How much new housing is being built in Belvedere, Montevideo?

Belvedere had 503 m² of new housing approved in 2025 (3 building permits).

Belvedere ranks #49 of 54 Montevideo neighborhoods by approved housing m² in 2025. So far in 2026, 4,598 m² have been approved (partial year, ~2-month publication lag). Building permits are the leading indicator of future supply: what is approved today reaches the market as new housing within roughly two to three years. The city series starts in 1997, allowing full construction cycles to be read.

Annual series — approved housing m²

Source: City of Montevideo (Intendencia) — Approved building permits, National Open Data Catalog. Aggregation by neighborhood: Ingar.

See the permits map →

Comparable neighborhoods

• Paso Molino · USD 1,667/m²
• Villa Española · USD 1,437/m²
• Reducto · USD 1,865/m²
• Sayago · USD 1,369/m²