Cerro real estate data — Índice INGAR

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

An apartment in Cerro costs a median of USD 1,045 per m² in September 2026, -0.4% versus the previous month.

In September 2026, Cerro ranks #47 of 48 published neighborhoods by price per m² in apartments (#1 = most expensive). The median asking price is USD 68,000 for a typical surface of 62 m². Versus the previous month the price per m² moved -0.4%; since the series began (March 2026) it accumulates -5.8%. 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 1,045

P25–P75 (USD/m²)

854 – 1,167

Median price (USD)

USD 68,000

Median surface

62 m²

MoM change

-0.4%

Change since series start

-5.8%

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 Cerro, Montevideo?

A house in Cerro has a median asking price of USD 85,000 in September 2026 (USD 812/m², typical surface 110 m²), -4.1% versus the previous month.

In September 2026, Cerro ranks #50 of 51 published neighborhoods by price per m² in houses (#1 = most expensive). Versus the previous month the price per m² moved -4.1%; since the series began (March 2026) it accumulates -14.0%. Published supply in the neighborhood is medium 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 812

P25–P75 (USD/m²)

500 – 1,045

Median price (USD)

USD 85,000

Median surface

110 m²

MoM change

-4.1%

Change since series start

-14.0%

Estimated capital appreciation (INE + DGI)

+3.4%

Supply

Medium

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 Cerro, Montevideo?

The average rent in Cerro was UYU 19,050 (USD 474) 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 +13.8% in pesos (+13.9% in dollars). The average comes from 384 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 Cerro, Montevideo?

Cerro had 4,795 m² of new housing approved in 2025 (3 building permits), +44% versus 2024.

Cerro ranks #30 of 54 Montevideo neighborhoods by approved housing m² in 2025. So far in 2026, 93 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

• Colón · USD 1,060/m²
• Maroñas · USD 996/m²
• Ituzaingó · USD 1,149/m²
• Cerrito · USD 1,200/m²