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 1,976 per m² in July 2026, +3.8% versus the previous month.

In July 2026, Mercado Modelo ranks #33 of 49 published neighborhoods by price per m² in apartments (#1 = most expensive). The median asking price is USD 108,000 for a typical surface of 60 m². Versus the previous month the price per m² moved +3.8%; since the series began (March 2026) it accumulates +10.5%. Supply in the neighborhood is low relative to the rest of the city, with 1.5 months of inventory at the current sales pace. Estimated capital appreciation for the area is +3.3% 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 1,976

P25–P75 (USD/m²)

1,715 – 2,315

Median price (USD)

USD 108,000

Median surface

60 m²

MoM change

+3.8%

Change since series start

+10.5%

Median rent (USD/mo)

USD 586

Estimated gross yield

5.6% estimated

Estimated net yield

3.6% estimated

Months of supply

1.5

Absorption rate

65.7%

Estimated capital appreciation (INE + DGI)

+3.3%

Supply

Low

What rental yield does an apartment in Mercado Modelo produce?

An apartment in Mercado Modelo yields an estimated 5.6% gross per year in July 2026 (3.6% estimated net), with a median rent of USD 586 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 Mercado Modelo, Montevideo?

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 Mercado Modelo, Montevideo?

The average rent in Mercado Modelo was UYU 23,760 (USD 594) 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 +5.6% in pesos (+10.0% in dollars). The average comes from 556 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

• Unión · USD 1,956/m²
• Arroyo Seco · USD 2,048/m²
• Villa Muñoz · USD 1,922/m²
• Brazo Oriental · USD 2,095/m²