Montevideo is the capitol of Uruguay, and home to nearly one half of the countries residents.
A vast majority of the government institutions, government jobs, and government (both foreign and domestic) money is conentrated in the capitol city. And, in addition, a lot of foreign companies set up their headquarters (if they have a presence in Uruguay) in Montevideo. Since Uruguay has a rather strong socialist tradition, a lot of wealth tends to collect around those that collect and redistribute it. For these reasons, the per capita income is higher and the cost of living in much higher in Montevideo than the surrounding country.
Rents and purchase prices for homes in the city will typically run 2 to 3 times (or more) the cost of a comparable home outside of Montevideo proper, and “high end” homes approach “1st world” prices as they are often priced to “perfection” — the chance of being approved for embassy use and high end apartments with security vying for the chance to be used as diplomatic housing.
Montevideo real estate costs vary widely by neighborhood. Some of the more expensive neighborhoods, not so coincidentally, also happen to be among the most popular amongst expats, and services restaurants with a more “cosmopolitan” appeal.
Ciudad Vieja
While Ciudad Vieja (the old town) has received some favorable press lately as an “up and coming” revitalization zone, true gentrification is taking some time to accomplish. This is primarily, in my opinion, due to the level of disrepair that the zone fell into during the military junta’s rule and several decades of zero interest in living or doing business in the oldest part of the city.
While it is littered (literally ) with fantastic examples of old architecture, there are some buildings that are nearly completely bombed out and perhaps not rehab’able.
Centro
Centro, or “center” is basically “downtown”. Lots of businesses are setup downtown and it sits directly adjacent to ciudad vieja which sits on the point next to the port. Centro also has some lower cost housing which some younger people take advantage of. While Ciudad Veija is overrun (almost) by partiers on the weekends as part of the revitalization project has convinced bars and restaurants to begin operating there, centro has almost the exact opposite problem. Basically, at the end of the day, it is difficult to find anything open in centro. While the apartments in centro and buildings in centro number among some of my favorite, the neighborhood, from my perspective is some of the least desirable — slightly crime ridden, gritty, urine soaked, and lacking in basic services (other than exhaust billowing buses which make up the public transport and chachki shops filled with decorative mate gourds and plastic crap imported from China).
Palermo
Palmero, is the urban tree lined neighborhood which sits directly south of “centro” or downtown. While centro sits at the heart of the peninsula and is centered by 18 de Julio (the main drag), Palermo is bordered on the north by centro and on the south by the rio plata and the “rambla” — or road that runs along the waterfront and “boardwalk” (concrete promenade really).
Some expats have found a home in palermo as it is very walkable, away from the hustle and bustle of downtown, and also home to the U.S. Embassy.
Parque Rodo
Parque Rodo, or Rodo Park, is the next neighborhood to the east of Palermo along the Plata river waterfront. Parque Rodo is so named because of the gorgeous little gem of a city park with runs from Bulevar Artigas in the North, down to the rambla and waterfront in the south. Parque Rodo has a number of wonderful spots for taking walks or enjoying rides including bumper cars, ferris wheels, museums, clay tennis courts, bocci ball (which is quite popular among the older gents), playgrounds, walking paths, lake with ducks and paddle boats, feng shui classes, statues, mature trees, and numerous quiet places to catch a nap in the sun or the shade of a tree.
The surrounding real estate is a mix of older, more expensive homes (some of them housing diplomatic families or embassies and consulates) and some newer (60’s and 70’s) apartment buildings that have all the charm that their dates of creation demanded. Obviously, although they are not the most quiet homes, the homes that line the park are often the most expensive/desirable in this area. Services include a number of restaurants, defensor sporting club and football stadium, and a casino near the rambla.
Punta Carretas
Punta Carretas is probably my favorite neighborhood in Montevideo. As the name would imply it sits on a point that juts out into the rio plata. It’s most famous for the Punta Carretas lighthouse and the old punta carretas prison which has since been turned into an upscale shopping mall.
Montevideo Real Estate
Montevideo is the capitol of Uruguay, and home to nearly one half of the countries residents.
A vast majority of the government institutions, government jobs, and government (both foreign and domestic) money is conentrated in the capitol city. And, in addition, a lot of foreign companies set up their headquarters (if they have a presence in Uruguay) in Montevideo. Since Uruguay has a rather strong socialist tradition, a lot of wealth tends to collect around those that collect and redistribute it. For these reasons, the per capita income is higher and the cost of living in much higher in Montevideo than the surrounding country.
Rents and purchase prices for homes in the city will typically run 2 to 3 times (or more) the cost of a comparable home outside of Montevideo proper, and “high end” homes approach “1st world” prices as they are often priced to “perfection” — the chance of being approved for embassy use and high end apartments with security vying for the chance to be used as diplomatic housing.
Montevideo real estate costs vary widely by neighborhood. Some of the more expensive neighborhoods, not so coincidentally, also happen to be among the most popular amongst expats, and services restaurants with a more “cosmopolitan” appeal.
Ciudad Vieja
While Ciudad Vieja (the old town) has received some favorable press lately as an “up and coming” revitalization zone, true gentrification is taking some time to accomplish. This is primarily, in my opinion, due to the level of disrepair that the zone fell into during the military junta’s rule and several decades of zero interest in living or doing business in the oldest part of the city.
While it is littered (literally
) with fantastic examples of old architecture, there are some buildings that are nearly completely bombed out and perhaps not rehab’able.
Centro
Centro, or “center” is basically “downtown”. Lots of businesses are setup downtown and it sits directly adjacent to ciudad vieja which sits on the point next to the port. Centro also has some lower cost housing which some younger people take advantage of. While Ciudad Veija is overrun (almost) by partiers on the weekends as part of the revitalization project has convinced bars and restaurants to begin operating there, centro has almost the exact opposite problem. Basically, at the end of the day, it is difficult to find anything open in centro. While the apartments in centro and buildings in centro number among some of my favorite, the neighborhood, from my perspective is some of the least desirable — slightly crime ridden, gritty, urine soaked, and lacking in basic services (other than exhaust billowing buses which make up the public transport and chachki shops filled with decorative mate gourds and plastic crap imported from China).
Palermo
Palmero, is the urban tree lined neighborhood which sits directly south of “centro” or downtown. While centro sits at the heart of the peninsula and is centered by 18 de Julio (the main drag), Palermo is bordered on the north by centro and on the south by the rio plata and the “rambla” — or road that runs along the waterfront and “boardwalk” (concrete promenade really).
Some expats have found a home in palermo as it is very walkable, away from the hustle and bustle of downtown, and also home to the U.S. Embassy.
Parque Rodo
Parque Rodo, or Rodo Park, is the next neighborhood to the east of Palermo along the Plata river waterfront. Parque Rodo is so named because of the gorgeous little gem of a city park with runs from Bulevar Artigas in the North, down to the rambla and waterfront in the south. Parque Rodo has a number of wonderful spots for taking walks or enjoying rides including bumper cars, ferris wheels, museums, clay tennis courts, bocci ball (which is quite popular among the older gents), playgrounds, walking paths, lake with ducks and paddle boats, feng shui classes, statues, mature trees, and numerous quiet places to catch a nap in the sun or the shade of a tree.
The surrounding real estate is a mix of older, more expensive homes (some of them housing diplomatic families or embassies and consulates) and some newer (60’s and 70’s) apartment buildings that have all the charm that their dates of creation demanded. Obviously, although they are not the most quiet homes, the homes that line the park are often the most expensive/desirable in this area. Services include a number of restaurants, defensor sporting club and football stadium, and a casino near the rambla.
Punta Carretas
Punta Carretas is probably my favorite neighborhood in Montevideo. As the name would imply it sits on a point that juts out into the rio plata. It’s most famous for the Punta Carretas lighthouse and the old punta carretas prison which has since been turned into an upscale shopping mall.