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 1,423 per m² in September 2026, -0.4% versus the previous month.

In September 2026, Belvedere ranks #41 of 48 published neighborhoods by price per m² in apartments (#1 = most expensive). The median asking price is USD 75,000 for a typical surface of 59 m². Versus the previous month the price per m² moved -0.4%; since the series began (March 2026) it accumulates +21.9%. Published supply in the neighborhood is low relative to the rest of the city; this does not measure completed sales. 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 — September 2026

Median USD/m² (USD/m²)

USD 1,423

P25–P75 (USD/m²)

963 – 1,757

Median price (USD)

USD 75,000

Median surface

59 m²

MoM change

-0.4%

Change since series start

+21.9%

Estimated capital appreciation (INE + DGI)

+3.4%

Supply

Low

Monthly series — Apartments

* Gross yield = annual rent ÷ asking price. It does not deduct vacancy, management, maintenance, taxes or acquisition costs. These 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 135,000 in September 2026 (USD 1,086/m², typical surface 124 m²), -0.4% versus the previous month.

In September 2026, Belvedere ranks #37 of 51 published neighborhoods by price per m² in houses (#1 = most expensive). Versus the previous month the price per m² moved -0.4%; since the series began (March 2026) it accumulates +8.2%. Published supply in the neighborhood is low relative to the rest of the city; this does not measure completed sales. 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 — September 2026

Median USD/m² (USD/m²)

USD 1,086

P25–P75 (USD/m²)

804 – 1,357

Median price (USD)

USD 135,000

Median surface

124 m²

MoM change

-0.4%

Change since series start

+8.2%

Estimated gross yield

8.2% estimated

Estimated capital appreciation (INE + DGI)

+3.4%

Supply

Low

Monthly series — Houses

* Gross yield = annual rent ÷ asking price. It does not deduct vacancy, management, maintenance, taxes or acquisition costs. These 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 20,261 (USD 504) in July 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 +11.5% in pesos (+11.6% in dollars). The average comes from 458 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, 6,914 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

• La Teja · USD 1,260/m²
• Villa Española · USD 1,499/m²
• Aires Puros · USD 1,500/m²
• Malvín Norte · USD 1,211/m²