Mercado Modelo real estate data — Índice INGAR

How much does a square meter cost in Mercado Modelo, Montevideo?

An apartment in Mercado Modelo costs a median of USD 2,255 per m² in September 2026, +7.1% versus the previous month.

In September 2026, Mercado Modelo ranks #31 of 48 published neighborhoods by price per m² in apartments (#1 = most expensive). The median asking price is USD 120,000 for a typical surface of 57 m². Versus the previous month the price per m² moved +7.1%; since the series began (March 2026) it accumulates +26.1%. 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 2,255

P25–P75 (USD/m²)

1,891 – 2,846

Median price (USD)

USD 120,000

Median surface

57 m²

MoM change

+7.1%

Change since series start

+26.1%

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 Mercado Modelo, Montevideo?

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 Mercado Modelo, Montevideo?

The average rent in Mercado Modelo was UYU 23,713 (USD 590) 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 +4.8% in pesos (+4.9% in dollars). The average comes from 553 new contracts registered over the last 12 months (rolling annual average). The figure corresponds to the INE area “Merc.Modelo, Bolívar”, which includes this neighborhood. 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.

Comparable neighborhoods

• La Comercial · USD 2,275/m²
• Villa Muñoz · USD 2,187/m²
• Atahualpa · USD 2,395/m²
• Ciudad Vieja · USD 2,157/m²