Home for Rent in Pocitos Nuevo, Montevideo, Uruguay

Stately Home in Nuevo Pocitos, Montevideo Uruguay

This is an old photo that I took of a home that was for rent YEARS ago.  Who knows, maybe it still is.  It was for rent for *months* and the owners didn’t seem all that excited to ‘make a deal’ when i contacted them to ask about it.

But first, some preliminaries…The year was 2007.  Rental rates for nicer places (priced in dollars) have since been hit with inflation, a rising real estate market, falling us dollar versus the peso, and a 15 percent landlord tax.  The result has been a 30-50% rise in asking rents for nicer places.

Nuevo pocitos is the equivalent of “pocitos adjacent”

Pocitos is one of the top two or three expat/urban neighborhoods in Montevideo.  It is filled with shops, restaurants, highrises and fronts onto Pocitos beach, a large crescent shaped beach that has most of the action along the water during the summer months (in the city)

Nuevo pocitos is a neighborhood between Pocitos and Buceo (a neighborhood to the east of pocitos).  There is less commercialization, and while relatively dense, there is actually room for homes and sunlight (and parking!)

This houses *asking* was 3800/mo — back in 2007.

With this asking price they seemed to be clearly targeting a diplomat family or other governmental arrangement.  It’s not laid out in a way that would be conducive to hosting a company and it’s so far outside the average salary of anyone who would want to live in nuevo pocitos it would be a bad fit for anyone else.

As you can see, while this is a nice house, the price is distinctly North american for my tastes and gives you an idea of what some of the more ‘proud’ Uruguayans want for their homes.  This home sat for MONTHS empty waiting for the right tenant.  Since they typically have no debt, zero to no insurance costs, and very low property taxes, the impetus to fill a vacant rental is quite low.