QuintoAndar, the largest housing platform in Latin America, announces a 37% growth in the number of rental agreements closed in Belo Horizonte compared to the same period last year. The proptech is also celebrating an unprecedented milestone in its operation: reaching one thousand housing contracts closed per month in Greater Belo Horizonte. This data consolidates the Minas Gerais state capital as one of the most strategic markets for the company.
QuintoAndar’s presence in Minas Gerais is already robust: the platform registers 1 scheduled visit every 2 minutes in Greater Belo Horizonte, is present in more than 200 neighborhoods in the capital, has 900,000 monthly accesses in BH, and is recognized as a Top of Mind brand in housing.
“We are very happy with the returns we have been getting in Belo Horizonte. Achieving this evolution shows that we are on the right track, but that there is still room to improve the journey and, thus, help more people from Belo Horizonte to love where they live. This performance is a direct result of the investment we are making in the market, strengthening our presence and accelerating the transformation of the living experience in the city,” says Flávia Mussalem, Marketing Director at QuintoAndar.
A study conducted by the Center of Economic Sciences at UFMG (Federal University of Minas Gerais) revealed that QuintoAndar has injected R$419 million into the economy of the state of Minas Gerais over the last four years. The study shows that from 2021 to 2024, QuintoAndar generated 23,000 direct and indirect jobs in the state.
“The study shows how QuintoAndar’s operations in Minas Gerais translate into a virtuous cycle for the local economy, generating a multiplier effect that boosts household consumption and creates numerous opportunities in different sectors. It is extremely rewarding to see the company contributing so significantly to the state’s development,” says Thiago Reis, Communications and Data Manager at Grupo QuintoAndar.
The data also shows the company’s impact on employment and other economic indicators. In addition to the service sector (with an impact of over R$ 360million) – the company′s main area of operation –the data also shows a contribution to the industry (R$ 58 million) and, indirectly, even to the agricultural sector (about half a million reais).
According to the UFMG researchers, the company’s activity also stimulated significant tax collection in the state – both direct and that generated by the ripple effects on household consumption and production in other sectors.
“The results in Minas Gerais demonstrate the potential that technology has to transform not only the real estate market but the entire economic dynamic of a state. QuintoAndar’s commitment is to continue improving its products and generating even more opportunities for the people of Minas Gerais. Therefore, R$100 million will be invested in Belo Horizonte alone by next year,” states Thiago Reis.