Invest in Uruguay real estate

Invest in Uruguay real estate in Montevideo. 5-9% returns in regenerating historic Old City neighbourhood.
By Karen A Higgs
Last updated on January 31, 2024

Invest in Uruguay real estate in Montevideo Uruguay in the most iconic historic district, of Uruguay’s capital—the Old City.

These are sustainable real estate investments in historic properties together with REM, a small development company dedicated to the revitalisation of the Old City. Be involved full-on hands-on—from prospecting for buildings to renovation—or simply buy a historic apartment and receive a monthly return, depending on the scale of your investment. Returns are between 5 and 9 per-cent.

Why invest in Montevideo Uruguay and the Old City

The Old City contains the majority of Montevideo‘s tourist attractions. It’s the port of call for hundreds of cruise ships sailing into Montevideo. The properties have great bones and infrastructure (electricity, water, internet) is first-class. But development is lagging behind. Around the world, historic districts have appreciated in value over the long term.

Ethical REM has a portfolio of historic properties in the old city, primarily on the central pedestrian streets of Sarandi and Perez Castellano (they meet to form an ‘L’ which spans the Old City). Since 2013 they have turned abandoned properties into commercial and residential homes including several four and five-floor apartment buildings, a restaurant and a vermouth bar! The apartments are generally studios and 1-2 bedroom units which are both sleek and highlight original features. They rent at affordable prices to the local community.

A greener investment The construction industry generates 38% of carbon emissions worldwide. Studies show renovation is better for the environment, using fewer materials and generates less waste than new construction.

How does your investment work?

Define your budget and choose between buying a ready-to-rent apartment or participate for bigger returns in an investment pool.

An investment of $100,000+ With an investment of 100+ thousand you can see REM’s portfolio of available apartments. Buy the apartment for rental. REM finds and manages the client.

Managed rental unit return: 5 to 6.5% p.a.

An investment of $400,000+ You can participate as a partner in an investment pool. You can either find and buy an investment property for REM to renovate or choose from existing assets.

Investment pool returns: 8 to 9% with an option to retain ownership of a number of rental units.

About REM

REM is the brainchild of former banker turned developer, Roberto Gelber (Guru’Guay wrote about his return to Uruguay back in 2016). He walks the walk—he develops in the Old City, lives there and invests in a number of Old City-based small businesses including a Vietnamese restaurant (a first in Uruguay). REM’s pool of investors is currently made up of colleagues and friends from USA, London, Netherlands, Argentina and Uruguayans living abroad.

Contact REM at or visit the website



The story of the Andes plane crash survivors is one of the great human survival stories of the Twentieth Century.

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