The Price of Apartments in MontevideoBy Lee at 04/13/08 10:44
There is always talk about "what does an apartment cost in Montevideo".. and which neighborhood is best. This discussion will talk about price, but its up to you to visit the neighborhoods to decided which is best for you.I took all the real estate ads designated as apartments from the newspaper last week and generated the follow charge from them. For select neighborhoods, I show the number of apartments listed for sale (with a price), the lowest advertised price in the neighborhood, the highest price, the average price and the number of listings in that neighborhood without an asking price. I then list same information for each neighborhood further broken down by the number of bedrooms listed. Pocitos by far has the largest number of apartments listed for sale, probably because other areas, like Centro may have more "casas" than apartments. The average price probably errs on the low side as some properties are listed as say US$35,000 plus financing. Meaning the down payment will be $35,000 and the price is otherwise unlisted. On the other hand, hopefully, no one actually pays asking price. The number of bedrooms is simply how the ad was presented, so a 2 or a 3 bedroom apartment could be that, or it could be the 2 or 3 bedroom apartment plus a service bedroom. Enjoy and maybe I'll work up a similar chart for casas. | Barrio/Bedrooms | Aptos for Sale | Lowest Price | Highest Price | Average Price | # Unpriced | | CENTRO | 179 | US$12,000 | US$205,000 | US$57,460 | 10 | | CENTRO (1 bedrooms) | 36 | US$16,000 | US$67,000 | US$36,083 | 1 | | CENTRO (2 bedrooms) | 64 | US$12,000 | US$145,000 | US$56,742 | 1 | | CENTRO (3 bedrooms) | 62 | US$22,000+ | US$180,000 | US$67,854 | 6 | | CENTRO (4 bedrooms) | 5 | US$49,000 | US$98,000 | US$73,200 | 0 | | CIUDAD VIEJA | 27 | US$14,500 | US$120,000 | US$42,185 | 2 | | CIUDAD VIEJA (1 bedrooms) | 7 | US$15,000 | US$58,000 | US$32,642 | 2 | | CIUDAD VIEJA (2 bedrooms) | 10 | US$16,000 | US$65,000 | US$39,800 | 0 | | CIUDAD VIEJA (3 bedrooms) | 7 | US$19,000 | US$120,000 | US$60,428 | 0 | | CIUDAD VIEJA (4 bedrooms) | 1 | US$28,000 | US$28,000 | US$28,000 | 0 | | CORDON | 172 | US$13,000 | US$278,000 | US$56,895 | 13 | | CORDON (1 bedrooms) | 33 | US$13,000 | US$59,000 | US$35,681 | 3 | | CORDON (2 bedrooms) | 67 | US$20,000 | US$95,000 | US$51,089 | 5 | | CORDON (3 bedrooms) | 48 | US$16,000 | US$278,000 | US$77,750 | 1 | | CORDON (4 bedrooms) | 7 | US$32,000 | US$185,000 | US$117,000 | 3 | | GOLF | 14 | US$80,000 | US$750,000 | US$438,928 | 4 | | GOLF (2 bedrooms) | 4 | US$80,000 | US$345,000 | US$178,750 | 1 | | GOLF (3 bedrooms) | 9 | US$380,000 | US$750,000 | US$562,222 | 2 | | GOLF (4 bedrooms) | 1 | US$370,000 | US$370,000 | US$370,000 | 1 | | POCITOS | 581 | US$22,360 | US$1,120,000 | US$138,829 | 35 | | POCITOS (1 bedrooms) | 80 | US$22,360 | US$125,000 | US$65,480 | 7 | | POCITOS (2 bedrooms) | 180 | US$24,000 | US$1,120,000 | US$101,674 | 13 | | POCITOS (3 bedrooms) | 267 | US$35,000 | US$650,000 | US$175,434 | 13 | | POCITOS (4 bedrooms) | 39 | US$74,000+BHU | US$800,000 | US$228,358 | 2 | | POCITOS NUEVO | 47 | US$28,000 | US$360,000 | US$101,870 | 2 | | POCITOS NUEVO (1 bedrooms) | 10 | US$35,000 | US$80,000 | US$59,100 | 0 | | POCITOS NUEVO (2 bedrooms) | 21 | US$32,000 | US$178,000 | US$80,995 | 0 | | POCITOS NUEVO (3 bedrooms) | 13 | US$28,000 | US$360,000 | US$170,461 | 2 | | POCITOS NUEVO (4 bedrooms) | 2 | US$110,000 | US$118,000 | US$114,000 | 0 | | PUNTA CARRETAS | 90 | US$35,000 | US$770,000 | US$204,227 | 4 | | PUNTA CARRETAS (1 bedrooms) | 10 | US$35,000 | US$125,000 | US$66,400 | 0 | | PUNTA CARRETAS (2 bedrooms) | 35 | US$35,000 | US$279,000 | US$96,682 | 1 | | PUNTA CARRETAS (3 bedrooms) | 34 | US$40,000 | US$600,000 | US$257,429 | 3 | | PUNTA CARRETAS (4 bedrooms) | 10 | US$220,000 | US$770,000 | US$520,000 | 0 | | VILLA BIARRITZ | 38 | US$50,000 | US$2,400,000 | US$255,289 | 1 | | VILLA BIARRITZ (1 bedrooms) | 1 | US$65,000 | US$65,000 | US$65,000 | 0 | | VILLA BIARRITZ (2 bedrooms) | 13 | US$85,000 | US$165,000 | US$126,769 | 0 | | VILLA BIARRITZ (3 bedrooms) | 21 | US$90,000 | US$2,400,000 | US$334,666 | 1 | | VILLA BIARRITZ (4 bedrooms) | 2 | US$420,000 | US$490,000 | US$455,000 | 0 |
News Digest Blog
Tags: • apartment prices • montevideo • real estate • pocitos • - Permalink
Trackbacks
Trackback specific URI for this entry No trackbacks.
Comments
Comment #1 Chris G at 04/13/08 15:30
Absolutely excellent research! This sorta stuff is always valuable.I would say that the only 'skew factor' that might be considered is that apartments that make it to the newspaper normally have some financial backing that is pushing the broker to sell fast, OR they are a $1M condo that may take 6 months to a year to sell. True? Comment #2 By Lee at 04/13/08 18:15
I would say the properties in the newspaper are overall less expensive and less pushed than those carried by Real Estate agencies (though some in the newspapers are from real estate agencies).On the web, I rarely see anything under $80,000. I think there were very few over $300,000 in the newspaper (except maybe in Golf where everything seems to be in that price range). Unfortunately, the newspaper ads are just classifieds and usually lack even the sq mts of the property. I've had real estate agencies refuse to show me properties I wanted to see and some cancel appointments to show me any... so I have yet to see any "pushing" to sell a property. Comment #3 Andre at 04/27/08 20:45
Hii think you have done some great research, but there is something i dont understand. Are the price yearly? How much would these be monthly? Are these condos or apartments?? thanks, andre Comment #4 By Lee at 04/27/08 21:04
These are the advertising prices of Apartment for sale (in US Dollars). In the USA these "apartments" would be called Condos.You would have property taxes and a building maintainence fee which is usually paid monthly and often includes a doorman (security) and heat. It can be anywhere from under US$100/mo to US$500/mo+ The buildings with one apartment per floor have much higher monthly fees and the ones without a doorman or heat the lowest. Most apartments that you rent are single apartments owned by someone renting them, not someone owning a while building renting out apartments.
|