After several months of relative stability in the prices of the real estate sector, the Uruguayan capital registered a new rent increase in May.
The rentals in Montevideo registered a new rise in May after several months of relative stability at the beginning of 2023, rising 0.5%. Among the neighborhoods with the highest increase is Carrasco, while little bits It is one of those that suffered the least increases.
He rent in Montevideo It is a matter of concern every month due to the high costs it presents —the capital has the most expensive square meter of all Latin America. Although since 2019 it registered stability and even declines, the last months of 2022 represented a significant upturn in housing rental prices, which later normalized during the first part of this year. However, May marked a new rise in the real estate market.
In this way, during the last month an increase of 0.5% was registered, a percentage that experts in the sector understand to be considerable for a single month; especially when, between January and April, there was a drop of around 2.7%. It should be remembered that the interannual values to April had shown an increase of 6%, according to data from the National Statistics Institute (INE).
What were the neighborhoods that increased the most?
According to the information on the portal InfoHouses, The neighborhood that increased its average income the most was Carrasco, with an increase of 3.4%. They followed Cord and The Bleached, whose rents increased by 1.5% on average. This is explained by the revitalization of the market driven by the multiple projects carried out through the Promoted Housing Law.
Among the Montevideo neighborhoods, Pocitos was the one that presented the least increase (1.1%) among those that, in any case, had considerable growth in their rental prices.
Also, according to Free market, The most expensive neighborhoods to rent are Carrasco, with a monthly average of 81,873 pesos; Diving Port (73,463 pesos); Fat tip (68,282 pesos); Villa Biarritz (55,160 pesos); and Punta Carretas (40,819 pesos).
Pocitos was ranked seventh on the list with a monthly average of 31,510 pesos. Far behind were the Center (23,815 pesos); Cord (22,913 pesos); and La Blanqueada (22,735 pesos).
For his part, he house rental It maintained a behavior similar to that of the departments in recent months, although with more ups and downs if we take the stretch that goes from January 2019 to the same month of 2023.
Source: Ambito
