Montevideo It concentrates the largest real estate activity in the country, although more and more citizens are moving inland due to the high costs of living in the capital, among which the amount of rent stands out.
The average price of a rental in Montevideo is 18,029 pesos according to data from the National Statistics Institute (INE), about 473 dollars. The value is the most expensive in the country, followed by cannelloni ($439) and maldonado ($418).
The disparity in prices within the capital is typical for a city of its size, with differences that can reach 50%.
The most expensive rentals in Montevideo are found in carrascowith an average value of $1,000, followed by Malvin ($695) and little bits (USD 599), according to Mercado Libre data analyzed by the real estate consultancy Moebius.
The highest rent of carrasco corresponds to a one-year-old apartment with 4 rooms and 400 square meters. It comes to $10,000. A studio apartment in the same area of the capital can be obtained from 938 dollars.
On the sidewalk in front, in Cord a rent for a 4-room apartment averages $812, while a studio is available for $415.
Migration to the interior of the country
The third department with the largest 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 Canelones with 11.7%, according to the INE.
Gonzalo Martinez Vargas, CEO of the real estate consultancy Moebius, explained that this is due to the characteristics of Uruguay where it is very easy to access everywhere and where there are no distances greater than 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.
Source: Ambito
