Piedras Blancas And Belvedere Keep Montevideo Yield Leadership In July

Uruguay's Montevideo market continues to show its strongest apartment yields away from the coast, with July INGAR data keeping Piedras Blancas, Belvedere and Cerro at the top of the cash-flow table.

The Yield Spread Is Large

INGAR's July investment table showed Piedras Blancas at 11.8 percent gross yield, Belvedere at 11.7 percent and Cerro at 11.6 percent. The citywide apartment median was much lower.

Prices Explain The Income Return

Piedras Blancas sat around USD 915 to USD 929 per square metre depending on the table, with small-unit monthly rents near USD 375. Belvedere was around USD 1,026 per square metre with rent near USD 475.

Low Stock Adds Liquidity Support

Several high-yield neighbourhoods showed low months of supply, including Aires Puros and La Figurita. Investors still need to inspect condition, tenancy quality and street-by-street demand.

Outlook

Uruguay's next signal is the next INGAR refresh and INE rent data. Montevideo buyers should treat double-digit yields as a due-diligence lead, not an automatic buy signal.

Uruguay Deal Checks

For Uruguay, the practical check is whether this local signal is visible in signed contracts, bank approvals, registered transfers, lease negotiations, completed works or enforceable public rules. Buyers should compare Montevideo, Piedras Blancas, Belvedere with title documents, service charges, financing terms, physical condition, tax exposure, handover timing, official notices, comparable local evidence, vacancy and realistic exit demand before treating the latest news as a price guarantee.

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