Ciudad Vieja

Ciudad Vieja is Montevideo's walkable historic Old Town on the harbour peninsula: colonial architecture, museums, restaurants and nightlife in a compact core, around the iconic Mercado del Puerto grill hall, the Plaza Independencia and Palacio Salvo, the Teatro Solís and the pedestrian Calle Sarandí. Municipal regeneration is steadily lifting it, block by block. For investors, Ciudad Vieja is the city's gentrification and value play: long-let gross yields of ~4–5% with short-term-rental upside (tempered by STR oversaturation, 400+ listings), best framed as a redevelopment bet rather than a blue-chip hold, and with a genuine 'use caution / variable by block' safety flag, quieter at night. Uruguay's fully equal foreign-ownership regime keeps acquisition simple, the market is USD-priced, and residency runs via the 183-day-presence route or, for HNW buyers, the new ~US$2M real-estate threshold (raised 1 Jan 2026).

Ciudad Vieja in Montevideo, Montevideo, Uruguay