QuintoAndar, the largest housing platform in Latin America, has injected more than R$ 10 billion into the Brazilian economy over the last four years. This is according to the company’s economic impact study conducted by Cedeplar (Center for Development and Regional Planning) of the School of Economic Sciences at UFMG (Federal University of Minas Gerais).
This represents an impact of 0.1% on the country’s GDP (Gross Domestic Product). According to the study’s authors, the amount is equivalent to half the GDP of the Brazilian textile sector or the entire GDP of the cleaning products, cosmetics, perfumery, and personal hygiene manufacturing sector.
For QuintoAndar’s COO (Chief Operating Officer), Lucas Lima, the numbers show the company’s importance not only in the real estate market but in several other sectors of the Brazilian economy. “We have already helped more than 2 million people find a home and have facilitated the journey for many others who needed to rent or sell a property, in addition to generating income for owners and various other partners. But the data shows that this impact goes beyond our customers and the service sector, benefiting many other people and segments throughout the entire Brazilian production chain”.
According to the study, between 2021 and 2024, 105,000 direct and indirect jobs were generated by QuintoAndar. The data also reveals a significant impact of the company on household consumption (R$ 4.6 billion).
In addition to the service sector (with a R$ 7.8 billion impact) – the company’s main area of operation – the data shows a significant contribution to the industry (R$ 2.1 billion) and, indirectly, even to the agricultural sector (about R$ 80 million).
According to the UFMG researchers, the company’s activity also stimulated tax collection by R$ 560 million (ICMS, ISS, IPI, and PIS-COFINS), including both direct taxes and those generated by the ripple effects on household consumption and production in other sectors.
“Seeing QuintoAndar boost the economy and simplify housing for millions of people is what drives us. We will continue to invest in technology and processes to ensure that tenants, buyers, owners, real estate agencies, and agents have a safer, more efficient, and bureaucracy-free experience, helping more and more Brazilians love where they live,” says Lucas Lima.
Regional Impact
The impact in the company’s main states of operation is also impressive. In São Paulo, R$ 7 billion was circulated, with R$ 5.4 billion in the service sector alone.
Furthermore, 52,000 direct and indirect jobs were created in the state (from 2021 to 2024). This is equivalent to the entire workforce of São Paulo’s metallurgy sector.
In Rio de Janeiro, proptech has injected R$ 727 million into the economy over the past four years. This amount is largely due to gains in household consumption (approximately R$ 245 million). QuintoAndar also generated 17,000 direct and indirect jobs in the state from 2021 to 2024.
In Minas Gerais, the impact was R$ 419 million over the same period. 23,000 direct and indirect jobs were created in the state.
Impact on Market Efficiency
The slowness of real estate transactions is one of the biggest pain points in the Brazilian market, and the study reveals the financial impact of this inefficiency: each day a property is vacant represents a potential revenue loss of R$ 66, or about R$ 2,000 per month.
In this context, QuintoAndar stands out for its efficiency and high liquidity. A property on the platform can be rented in just one hour after being listed. Every month, more than 14,000 new rental agreements are signed—one every 3 minutes. The company currently manages more than 300,000 contracts.
“By increasing the efficiency of the rental process, QuintoAndar’s operations generate significant gains for families and the economy as a whole, reducing substantial losses for owners and optimizing the occupancy of available properties,” highlights Edson Domingues, an economist at UFMG and the study’s coordinator.
Methodology
To estimate the impact of the company’s operation in Brazil, the economic effects on relevant indicators such as GDP, employment, income, household consumption, and investment were calculated. An inter-regional computable general equilibrium (CGE) model was used. The results represent the total impacts on the economy, meaning they reflect direct effects (relationships with input suppliers), indirect effects (impacts along the entire supply and production chain), and induced effects (resulting from increased household consumption).