The residential rental market in Belo Horizonte registered, in July 2025, the lowest cumulative price increase in a year. The data comes from the QuintoAndar Imovelweb Rental Index. According to the indicator, the results point to a significant slowdown in the pace of rent appreciation in the Minas Gerais state capital. The variation, however, still exceeds inflation.

The average rental price has accumulated a 12.56% increase in the 12 months ending in July 2025. Although still positive, this is the lowest annual growth rate recorded for the capital since May 2024. The data supports the possibility of a slowdown in price increases, as in June, the average price per square meter recorded its first drop in 30 months.

According to Thiago Reis, Data Manager at Grupo QuintoAndar, this moderation in growth does not indicate a cooling of demand. In July, the average price per square meter reached R$ 41.49—0.49% higher than observed in June.

“This is a good sign for tenants looking for new housing options, as the reduced growth rate tends to make the rental market less volatile. For landlords, it’s important to note that even with the slowdown, the cumulative appreciation remains above inflation, protecting the value of their assets. The market remains heated,” says Reis.

In July 2025, the National Broad Consumer Price Index (IPCA-15), known as the “inflation preview,” recorded a cumulative inflation of 5.3% over the last 12 months. This level is lower than that registered by the rental index in the capital.

A reflection of the heated market is the discount rate. In July, the average discount on contracts closed in Belo Horizonte was 2.4%, which is 0.4 percentage points above the level seen in June (2.0%). The discount index is calculated based on the difference between the advertised price and the amount effectively paid for properties transacted in the reference month.