Rescue an Old Colonial in the Most Historic Part of Montevideo

Tuesday, June 17, 2008
Montevideo, Uruguay

Read more about Uruguay in International Living Postcards —your daily escape

I’m in Montevideo’s historic quarter, Ciudad Vieja—the Old City. It’s the most charismatic part of Uruguay’s capital—shabby in parts, and gentrified in others.

From Plaza Independencia toward the port, you delve into another era. Colonial houses are everywhere—some gray and crumbling, others restored into pastel-painted charm. Ironwork balconies, siesta-time shutters, and heavy wooden doors feature heavily, but there’s no standard style. Buildings are neo-classical, art deco, or reminiscent of Belle Époque France.

Comparing Old Montevideo with other Central and South American colonial cities is difficult. For one thing, there’s little sign of an indigenous Amerindian population. You won’t find the same colorful exoticism of Granada in Nicaragua, or the central Mexican cities founded by Spanish conquistadores.

Yet its low-key ambience is appealing: elegant tree-shaded plazas…wine bars and swish new galleries…the pizzerias and mom-and-pop grocery stores. Its Saturday flea market is an alternative to the larger Sunday one in the Centro district.

At Mercado del Puerto (Port Market), a feast of outdoor Parilla restaurants awaits carnivores. Sizzling on giant grills, the steaks match those of neighboring Argentina. And they’re cheap: $10 on average for a juicy filet. Starters include blood sausages and interesting bits of offal such as sweetbreads. All perfect with Tannat, Uruguay’s signature red wine.

Uruguay was mostly settled by white Europeans, but I did encounter a trio of candombe drummers. Montevideo has had a small black community for over 200 years. The sound of even three of their rhythmic, barrel-like drums is thunderous; the racket during Carnival must be fearsome.

Ciudad Vieja has been given a facelift and this is attracting many young professionals to live in the neighborhood…so what are they buying?

My real estate guide, Patricia, believes Ciudad Vieja offers Montevideo’s best potential for capital appreciation. I’ve written a full report for International Living subscribers. The average price per square foot is $50 to $80, but can reach $100 if a property has had a makeover. Some examples:

• $45,000 for a 452-square-foot one-bedroom apartment
• A 752-square-foot apartment with antique tiles patterned with heraldic symbols and a gorgeous stained glass window featuring griffins seemed a steal at $48,000. The kitchen needs modernizing, but otherwise it’s perfectly livable
• On the Ciudad Vieja’s edge, overlooking Plaza Independencia (see the photo above), a 1,290-square-foot 1930s-style apartment with tall doors, high ceilings, and parquet floors is only $208,000. In such a desirably located building (the Canadian embassy is on one floor), this would rent for $1,300 to $1,500 per month.

In the historic core, bright and stylish loft apartments rent for much less. Average monthly rents for one-bedroom furnished units are $550 to $600 and two-bedroom apartments are around $700 per month.

One caveat about Ciudad Vieja living: Nightlife is fairly sedate during weekdays, but local fun-seekers pour into the zone on weekends. As the night cools, noise volumes rise. The streets nearest Plaza Independencia can get raucous after midnight. You’d need good sound-proofing.

Steenie Harvey
Roving Europe Editor (on loan to Uruguay), International Living

P.S. Although some guidebooks say parts of this historic quarter should be avoided after dark, it’s well policed. One night I was here until almost 3 a.m., prowling the music bars and Irish pubs with Brandon, a friend from Panama (plus three thirsty Icelandic backpackers). Of course, like anywhere else, act sensibly—no staggering down dark alleys alone.

Editor’s note: Get IL’s new Uruguay report for free. In it, our resident Uruguay guru, Lee Harrison, tells you about his 10 favorite towns…including Uruguay's best little city, where $45,000 will buy you a large 1920s colonial-style house with high ceilings just a few blocks from the riverfront park (the local real estate agent will tell you it’s $60,000…but Lee’s report shows you how to get it for $45,000). Learn how to get “From Colonial Charm to Coastal Hotspots: 10 Towns in Uruguay Where Your Dollar Goes a Long Way” for free.

Read related articles:

- Uruguay: Capital Living for $69,000

- Where to Find Colonial Homes for $80,000

- Uruguay’s Highest Rental Returns