Gross rental yields on Uruguay apartments are moderate to good

Residential Valuation Specialist | November 11, 2022

Last Updated: Sept. 13, 2022
MONTEVIDEO - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Pocitos
Studio $113,511 $448 4.74%
1-Bedroom $157,928 $629 4.78%
2-Bedroom $231,957 $702 3.63%
3-Bedroom $340,532 $2,228 7.85%
4+Bedroom $424,432 $2,475 7.00%
Cordón
Studio $88,958 $387 5.22%
1-Bedroom $117,459 $506 5.17%
2-Bedroom $152,006 $617 4.87%
3-Bedroom $178,607 $920 6.18%
Centro
Studio $88,835 $363 4.90%
1-Bedroom $119,927 $484 4.84%
2-Bedroom $157,928 $592 4.50%
3-Bedroom $192,475 $702 4.38%
4+Bedroom $227,022 $1,053 5.57%
Malvin
Studio $118,446 $569 5.76%
1-Bedroom $154,163 $714 5.56%
2-Bedroom $217,151 $1,113 6.15%
3-Bedroom $320,791 $1,331 4.98%
Punta Carretas
Studio $123,626 $484 4.70%
1-Bedroom $183,591 $726 4.75%
2-Bedroom $296,255 $1,307 5.29%
3-Bedroom $513,266 $2,698 6.31%
4+Bedroom $681,065 $3,465 6.11%
Tres Cruces
Studio $91,796 $365 4.77%
1-Bedroom $120,321 $508 5.07%
2-Bedroom $152,993 $629 4.93%
3-Bedroom $191,586 $847 5.31%
La Blanqueada
Studio $89,692 $424 5.67%
1-Bedroom $116,373 $455 4.69%
2-Bedroom $148,452 $593 4.79%
3-Bedroom $158,520 $678 5.13%
Pocitos Nuevo
Studio $111,537 $460 4.95%
1-Bedroom $154,967 $678 5.25%
2-Bedroom $227,022 $762 4.03%
3-Bedroom $370,144 $2,970 9.63%
Montevideo avg. Rental Yields 5.36%
MALDONADO - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Maldonado (all locations)
1-Bedroom $98,010 $545 6.67%
2-Bedroom $118,800 $593 5.99%
3-Bedroom $163,350 $1,346 9.89%
Maldonado avg. Rental Yields 7.52%
COLONIA - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Colonia (all locations)
Studio $108,900 $315 3.47%
1-Bedroom $138,600 $411 3.56%
2-Bedroom $123,750 $557 5.40%
Colonia avg. Rental Yields 4.14%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

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The typical gross rental yield in Montevideo - the return earned on the purchase price of a rental property, before taxation, vacancy costs, and other costs, - is moderate to good, at around 3.63 to 9.63%. Bear in mind that these yields are gross, i.e., before costs and taxes, and so realistically net rental returns would normally be a couple of percentage points lower.

Gross rental yields are an important consideration even for those who do not intend to become landlords because a high rental yield indicates that the property market is reasonably priced.

Rental yields in Maldonado range between 5.99% and 9.89% and in Colonia the expected returns are slightly lower at 3.47% to 5.40%.

Round trip transaction costs are high in Uruguay (i.e., the total costs of buying and selling a property).  See our residential transaction costs analysis for Uruguay and Residential buy/sell costs in Uruguay compared to the rest of Latin America.