Montevideo has less and less rental and sales offers, a situation to which is added the differential of the values that are handled in the properties if they are compared with those of the interior, a combination of factors that has led a good part of the population of the capital to choose to settle inside the Uruguay.
“Montevideo is decentralizing” explained Gonzalo Martinez VargasCEO of the consultancy Moebius Real Estate in dialogue with scope.com when asked about the movements of the population towards the interior of the country where the possibility of working remotely also plays a role, something that was innovated with the covid-19 pandemic and it came to stay.
Martínez Vargas explained that during the 1940s and 1950s the departure from Montevideo to east point it was only towards the spas, where people had their second residence. With the first economic crises of Latin America In the 1960s and 1970s, which also occurred in Uruguay, those neighborhoods became bedroom town, where they lived 30 or 40 kilometers from the capital and went to work in Montevideo.
Currently, the entire coast between Montevideo and Punta del Este is occupied and highly developed. “There are people who live in Punta del Este and work in Montevideo, they come and go almost every day,” he explained. The real estate expert remarked that the population is not only growing on the coasts but also to the north, because the apartments that are near the capital are cheaper.
This is explained with one of the data provided by the CEO, based on data from the National Statistics Institute (INE): The third department with the highest rental offer in Uruguay is Saint Joseph –which is located 90 kilometers from the capital– with 1.86% of the total, surpassing maldonado (1.64%), paysandu (1.31%) and Cologne (1.21%). The first two departments are Montevideo with a percentage of 76.4% and cannelloni with 11.7%.
According to Martínez Vargas, this is due to the characteristics of Uruguay where it is very easy to access everywhere and the distance to the furthest place can be covered in 7 hours by car. “People are leaving the cities to the outskirts”he remarked and assured that it is a trend that is developing throughout the world.
Uruguay currently has 61.32% of the total housing offers belonging to the interior, while the other 38.61% belongs to the country’s capital.
Within the prices of Montevideo, and if it is compared with some departments in the interior, the difference can exceed 100 dollars. While an average rent per month in the metropolitan area costs 473 dollars and in cannelloni $439in departments like Black river and Florida they roam among the 355 and 351 dollars.