Ref. ID: 310 - Estimated occupancy:

Cordón, Montevideo


A few meters from Tres Cruces, an unparalleled opportunity protected under the Law of Promoted Housing

Terrazas de Palmar: it is a project in construction that consists of 1 and 2 bedroom apartments, whose start of work is scheduled for February 15, 2019. The completion is planned for the month of August 2020.

Thanks to Law No. 18,795, which promotes private investment in Social Interest or Promoted Housing, is that the owner or tenant will obtain great benefits framed in this program. With the objective of facilitating access to constructive projects by the middle and lower middle class, the Promoted Housing:

– Exonerates VAT in the purchase price
– Exempt from the Property Tax for a period of 10 years
– Exempt ITP (Property Transfer Tax) on the value of Cadastre for initial buyers
– IRPF and IRAE: for rentals, this law also exempts the payment of IRF and IRAE for 10 years.

Terrazas del Palmar will be constituted by 60 total apartments, divided in: 30 apartments with 1 bedroom and another 30 with 2 bedrooms. The common areas will be fully equipped in barbecue area and also, the user will have accessibility, elevator, doorman, security and surveillance and garage.

The construction and the terminations, will be characterized by the quality of its elements, standing out the structure of reinforced concrete, environments and medians of ticholo, as well as projected gypsum plaster. The floors in the rooms will be non-slip porcelain, ceramic coating on the walls and floating parquet in the rooms, among other features of great added value. They will also have a forecast for air conditioning in each of the environments.

Apartamentos de 1 y 2 dormitorios con una construcción moderna, con 10 plantas de vivienda, sala de usos múltiples y 2 áreas comunes totalmente equipadas.

One and two bedroom apartments with a modern construction, with 10 floors of housing, multipurpose room and 2 common areas fully equipped.

2 bedrooms from unit 101 to the front USD 167,514

All apartments are sold with a garage space included in the price.
Occupancy expenses 3.5%


  • Ref. ID: 310
  • Property type: Apartment
  • Property status: Brand new
  • City Montevideo
  • Location Cordón

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Customer Testimonials


"The Plaza Mayor team, led by Joseph Altman, has advised me very diligently on some purchases and currently manages 3 properties for me in an efficient and professional manner. I am satisfied with the service received"

"I want to express, through these lines, my deepest gratitude for the seriousness and effectiveness received in the 10 years in which I have been working with your real estate agency, both in the purchase and / or sale of apartments as well as in the administration and rental of the Same, in the city of Montevideo.
It is really a real pleasure to have the service of your
Real estate, with which I will continue to work from where I reside, because they have shown me that I have a trustworthy company
With all affection "
Madrid June 8, 2021

(Docente en Suecia)

"Estamos muy conformes con los servicios de Plaza Mayor ya que la comunicación siempre es rápida y efectiva. Algo importante principalmente para la gente que vive en el exterior.

Es una inmobiliaria que realmente podemos recomendar! "

(Real Estate Broker and Investor in Denver, Colorado USA)

"I want to thank Joseph Altman and the team at Plaza Mayor. I started looking for an investment property in Montevideo almost 10 years ago.

He helped us find a great opportunity while the building was still being built. This allowed us to make some changes to the floor plan. He helped us through the one year construction process.

He has also managed the property since keeping it rented and managing the day-to-day responsibilities since I am usually a continent away. If you are looking for a personal or investment property in Montevideo, I highly recommend that you speak with Joseph and Plaza Mayor."

(Profesor de Español, la Universidad de Carnegie Mellon en Qatar)

“Somos clientes de Plaza Mayor desde hace muchos años ahora y nos dejan siempre asombrosos con el nivel de profesionalismo y dedicación. Estamos felices de poder continuar esta asociación.

Gracias nuevamente por todo."

(Lic. en Administración de Empresas / Magister en Finanzas de Empresas en Buenos Aires, Argentina)

"En primer lugar, mencionar que hace alrededor de 10 años ininterrumpidos, que recibo distintos servicios de Plaza Mayor.

Durante el período mencionado, contraté la administración de apartamentos rentados, y en todos los casos los servicios recibidos merecen ser destacados por su profesionalidad y el enfoque claro y concreto para atender en todo momento las inquietudes del cliente.

En tal orden de ideas, es imperativo, resaltar también la integridad con que todo el personal de la firma realiza sus actividades, estableciendo lazos de confianza nunca defraudada."

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