Palermo real estate data — Índice INGAR
Palermo: USD 3,487/m² median asking price for apartments in September 2026, estimated gross rental yield 5.6%.
Last updated: October 1, 2026.
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How much does a square meter cost in Palermo, Montevideo?
An apartment in Palermo costs a median of USD 3,487 per m² in September 2026, +0.8% versus the previous month.
In September 2026, Palermo ranks #15 of 48 published neighborhoods by price per m² in apartments (#1 = most expensive). The median asking price is USD 155,000 for a typical surface of 42 m². Versus the previous month the price per m² moved +0.8%; since the series began (March 2026) it accumulates +1.4%. Published supply in the neighborhood is high relative to the rest of the city; this does not measure completed sales. Estimated capital appreciation for the area is +3.8% 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 3,487
- P25–P75 (USD/m²)
- 3,088 – 3,987
- Median price (USD)
- USD 155,000
- Median surface
- 42 m²
- MoM change
- +0.8%
- Change since series start
- +1.4%
- Estimated gross yield
- 5.6% estimated
- Estimated capital appreciation (INE + DGI)
- +3.8%
- Supply
- High
What rental yield does an apartment in Palermo produce?
An apartment in Palermo yields an estimated 5.6% gross per year in September 2026. Gross yield over asking prices: it does not deduct vacancy, management, maintenance or taxes, so net return depends on each individual deal.
Standard reference scenario: what is deducted and how much →
Monthly series — Apartments
| Month | Median USD/m² | P25 | P75 | MoM change | Estimated gross yield* | Supply |
|---|---|---|---|---|---|---|
| Mar 2026 | USD 3,440 | 2,980 | 3,896 | — | 5.6% | High |
| Apr 2026 | USD 3,450 | 3,000 | 3,911 | +0.3% | 5.7% | High |
| May 2026 | USD 3,472 | 3,037 | 3,944 | +0.6% | 5.3% | High |
| Jun 2026 | USD 3,483 | 3,010 | 3,950 | +0.3% | 5.3% | High |
| Jul 2026 | USD 3,490 | 3,065 | 3,960 | +0.2% | 5.3% | High |
| Aug 2026 | USD 3,458 | 3,056 | 3,906 | -0.9% | 5.8% | High |
| Sep 2026 | USD 3,487 | 3,088 | 3,987 | +0.8% | 5.6% | High |
* 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 Palermo, Montevideo?
A house in Palermo has a median asking price of USD 290,000 in September 2026 (USD 1,531/m², typical surface 197 m²), -2.2% versus the previous month.
In September 2026, Palermo ranks #16 of 51 published neighborhoods by price per m² in houses (#1 = most expensive). Versus the previous month the price per m² moved -2.2%; since the series began (March 2026) it accumulates -2.0%. 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 +3.8% 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 1,531
- P25–P75 (USD/m²)
- 1,099 – 1,995
- Median price (USD)
- USD 290,000
- Median surface
- 197 m²
- MoM change
- -2.2%
- Change since series start
- -2.0%
- Estimated capital appreciation (INE + DGI)
- +3.8%
- Supply
- Low
Monthly series — Houses
| Month | Median USD/m² | P25 | P75 | MoM change | Estimated gross yield* | Supply |
|---|---|---|---|---|---|---|
| Mar 2026 | USD 1,562 | 1,101 | 1,865 | — | 6.3% | Medium |
| Apr 2026 | USD 1,578 | 1,295 | 1,951 | +1.0% | 6.5% | Medium |
| May 2026 | USD 1,565 | 1,292 | 1,929 | -0.8% | 6.1% | Low |
| Jun 2026 | USD 1,567 | 1,282 | 1,995 | +0.1% | 6.6% | Low |
| Jul 2026 | USD 1,575 | 1,240 | 1,995 | +0.5% | 9.2% | Medium |
| Aug 2026 | USD 1,565 | 1,187 | 1,995 | -0.6% | — | Medium |
| Sep 2026 | USD 1,531 | 1,099 | 1,995 | -2.2% | — | Low |
* 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 Palermo, Montevideo?
The average rent in Palermo was UYU 26,072 (USD 649) 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 +6.1% in pesos (+6.2% in dollars). The average comes from 639 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)
| Month | Rent (UYU) | Rent (USD) | Contracts (12 mo) |
|---|---|---|---|
| Jul 2025 | $ 24,573 | USD 611 | 262 |
| Aug 2025 | $ 24,804 | USD 619 | 255 |
| Sep 2025 | $ 25,798 | USD 645 | 661 |
| Oct 2025 | $ 25,762 | USD 645 | 637 |
| Nov 2025 | $ 25,719 | USD 647 | 663 |
| Dec 2025 | $ 25,423 | USD 649 | 655 |
| Jan 2026 | $ 25,861 | USD 673 | 651 |
| Feb 2026 | $ 25,970 | USD 673 | 617 |
| Mar 2026 | $ 26,037 | USD 647 | 593 |
| Apr 2026 | $ 26,174 | USD 654 | 559 |
| May 2026 | $ 26,120 | USD 653 | 609 |
| Jun 2026 | $ 26,185 | USD 650 | 641 |
| Jul 2026 | $ 26,072 | USD 649 | 639 |
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 Palermo, Montevideo?
Palermo had 8,296 m² of new housing approved in 2025 (8 building permits), -71% versus 2024.
Palermo ranks #21 of 54 Montevideo neighborhoods by approved housing m² in 2025. So far in 2026, 10,600 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
| Year | Permits | Approved m² |
|---|---|---|
| 2021 | 12 | 5,249 |
| 2022 | 13 | 21,310 |
| 2023 | 11 | 15,019 |
| 2024 | 15 | 28,534 |
| 2025 | 8 | 8,296 |
| 2026 (partial) | 7 | 10,600 |
Source: City of Montevideo (Intendencia) — Approved building permits, National Open Data Catalog. Aggregation by neighborhood: Ingar.
Comparable neighborhoods
- See the full INGAR Index
- Methodology (v2.0)
- Map: where Montevideo builds (permits 1997–2026)
- Download data (CSV) · JSON
- Official INE rent by neighborhood (CSV)
- Building permits by neighborhood since 1997 (CSV)
Prices, rents and yields: Índice INGAR, our own market survey (asking prices). Among those metrics, estimated capital appreciation is the only one built from official INE and DGI series.
Free to use with mandatory attribution: Source: Índice INGAR — ingar.com.uy/indice