Get all the data you need about the real estate market in Belo Horizonte
SUMMARY
We analyzed apartment rental yields in Belo Horizonte, as of 2026, for residential apartment buyers, using the raw dataset provided and converting it into a practical buyer guide for May 2026.
This article is regularly updated, so the numbers should be read as a current Belo Horizonte apartment yield snapshot rather than a permanent forecast.
The strongest yield areas in the dataset are Centro, Castelo, Buritis, Barro Preto, Santa Efigênia, and Cidade Nova, especially for studios and 1-bedroom apartments.
Centro has the highest studio yield in the table, with an estimated 10.2% gross yield and 6.1% net yield, but the higher operating risk means the headline number should not be read blindly.
Castelo is one of the clearest income markets for beginners. A 1-bedroom apartment is estimated at R$351,000, with R$2,340 monthly rent, 8.0% gross yield, and 5.0% net yield.
Buritis is the strongest balance between yield, tenant depth, and everyday residential logic. Studios are estimated at 9.0% gross yield and 5.7% net yield, while 1-bedroom apartments are estimated at 7.6% gross yield and 4.8% net yield.
The weakest pure income areas are Lourdes, Belvedere, Santo Antônio, Sion, and some premium parts of Savassi. These neighborhoods can be attractive lifestyle or capital-preservation markets, but purchase prices absorb much of the rent.
The apartment type matters. Studios usually produce the best rental income efficiency in Belo Horizonte because the monthly rent is high relative to the purchase price.
For a foreign individual buyer, the safest strategy is usually a well-located studio or 1-bedroom apartment in a practical neighborhood, not a luxury 2-bedroom apartment in the most expensive area.
The main interpretation of the Belo Horizonte apartment market is simple: high-rent neighborhoods are not always high-yield neighborhoods, and the best income returns often come from useful, affordable, tenant-rich areas rather than prestige addresses.
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Neighborhoods and apartment rental yields in the 2026 Belo Horizonte apartment market
This table compares apartment rental yields in Belo Horizonte by neighborhood and apartment type.
For each area, the table shows estimated purchase price, estimated monthly rent, gross rental yield, and net rental yield for studios, 1-bedroom apartments, and 2-bedroom apartments.
The broader research process also reviews annual ownership leakage, vacancy risk, time to rent, main tenant demand, main property risk, and the investment profile behind each estimate. Finally, please note you'll find much more detailed data in our real estate pack about Belo Horizonte.
| Neighborhood | Studio average purchase price | Studio average monthly rent | Studio gross rental yield | Studio net rental yield | 1-bedroom average purchase price | 1-bedroom average monthly rent | 1-bedroom gross rental yield | 1-bedroom net rental yield | 2-bedroom average purchase price | 2-bedroom average monthly rent | 2-bedroom gross rental yield | 2-bedroom net rental yield |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Anchieta | R$ 381,000 | R$ 2,460 | 7.7% | 5.0% | R$ 572,000 | R$ 3,060 | 6.4% | 4.1% | R$ 889,000 | R$ 3,920 | 5.3% | 3.4% |
| Barro Preto | R$ 294,000 | R$ 2,250 | 9.2% | 5.7% | R$ 441,000 | R$ 2,790 | 7.6% | 4.7% | R$ 686,000 | R$ 3,360 | 5.9% | 3.6% |
| Belvedere | R$ 380,000 | R$ 2,340 | 7.4% | 4.3% | R$ 569,000 | R$ 2,790 | 5.9% | 3.4% | R$ 886,000 | R$ 3,850 | 5.2% | 3.0% |
| Buritis | R$ 264,000 | R$ 1,980 | 9.0% | 5.7% | R$ 396,000 | R$ 2,520 | 7.6% | 4.8% | R$ 616,000 | R$ 3,150 | 6.1% | 3.9% |
| Castelo | R$ 234,000 | R$ 1,800 | 9.2% | 5.8% | R$ 351,000 | R$ 2,340 | 8.0% | 5.0% | R$ 546,000 | R$ 2,870 | 6.3% | 4.0% |
| Centro | R$ 255,000 | R$ 2,160 | 10.2% | 6.1% | R$ 382,000 | R$ 2,610 | 8.2% | 4.9% | R$ 595,000 | R$ 3,010 | 6.1% | 3.6% |
| Cidade Nova | R$ 270,000 | R$ 1,980 | 8.8% | 5.6% | R$ 405,000 | R$ 2,480 | 7.3% | 4.7% | R$ 630,000 | R$ 3,150 | 6.0% | 3.8% |
| Funcionários | R$ 398,000 | R$ 2,520 | 7.6% | 4.9% | R$ 596,000 | R$ 3,060 | 6.2% | 3.9% | R$ 928,000 | R$ 3,850 | 5.0% | 3.2% |
| Lourdes | R$ 462,000 | R$ 2,760 | 7.2% | 4.5% | R$ 693,000 | R$ 3,380 | 5.9% | 3.7% | R$ 1,078,000 | R$ 4,200 | 4.7% | 2.9% |
| Ouro Preto | R$ 249,000 | R$ 1,830 | 8.8% | 5.5% | R$ 374,000 | R$ 2,300 | 7.4% | 4.6% | R$ 581,000 | R$ 2,800 | 5.8% | 3.6% |
| Prado | R$ 270,000 | R$ 1,920 | 8.5% | 5.3% | R$ 405,000 | R$ 2,380 | 7.1% | 4.4% | R$ 630,000 | R$ 2,940 | 5.6% | 3.5% |
| Santa Efigênia | R$ 291,000 | R$ 2,160 | 8.9% | 5.7% | R$ 436,000 | R$ 2,700 | 7.4% | 4.8% | R$ 679,000 | R$ 3,290 | 5.8% | 3.7% |
| Santo Agostinho | R$ 384,000 | R$ 2,490 | 7.8% | 5.0% | R$ 576,000 | R$ 3,060 | 6.4% | 4.1% | R$ 896,000 | R$ 3,920 | 5.2% | 3.4% |
| Santo Antônio | R$ 348,000 | R$ 2,100 | 7.2% | 4.4% | R$ 522,000 | R$ 2,610 | 6.0% | 3.7% | R$ 812,000 | R$ 3,220 | 4.8% | 2.9% |
| Savassi | R$ 426,000 | R$ 2,700 | 7.6% | 4.9% | R$ 639,000 | R$ 3,280 | 6.2% | 4.0% | R$ 994,000 | R$ 4,060 | 4.9% | 3.2% |
| Serra | R$ 339,000 | R$ 2,280 | 8.1% | 5.1% | R$ 508,000 | R$ 2,790 | 6.6% | 4.2% | R$ 791,000 | R$ 3,430 | 5.2% | 3.3% |
| Sion | R$ 351,000 | R$ 2,160 | 7.4% | 4.6% | R$ 526,000 | R$ 2,660 | 6.1% | 3.8% | R$ 819,000 | R$ 3,360 | 4.9% | 3.1% |
We have made this infographic to give you a quick and clear snapshot of the property market in Brazil. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which neighborhoods offer the best net yield among areas people actually want to live in Belo Horizonte?
The best net-yield neighborhoods among livable Belo Horizonte areas are Buritis, Castelo, Santa Efigênia, Barro Preto, and Cidade Nova.
These neighborhoods combine above-average estimated net yields with enough practical tenant demand to make the income case credible. They are useful areas, not just cheap areas.
The studio numbers show the pattern clearly. Castelo is estimated at 5.8% net yield, while Buritis, Santa Efigênia, and Barro Preto are each estimated at 5.7% net yield.
For 1-bedroom apartments, Castelo is again strong at 5.0% net yield. Centro follows at 4.9%, while Buritis and Santa Efigênia are both estimated at 4.8%.
The real signal is that Belo Horizonte apartment rental yields are strongest where rents are supported by daily usefulness: commute access, hospitals, universities, services, and middle-class affordability.
For a beginner buyer, Savassi, Lourdes, Funcionários, and Santo Agostinho may feel easier to understand, but the income math is weaker because purchase prices are higher.
Where can I find apartments with above-average yields and below-average entry prices in Belo Horizonte?
The clearest above-average yield and below-average entry-price options in Belo Horizonte are Castelo, Buritis, Ouro Preto, Prado, Cidade Nova, Barro Preto, and Santa Efigênia.
These areas offer a lower purchase ticket than the most expensive Centro-Sul addresses, while still producing rents that support a strong rent-to-price relationship.
The 1-bedroom comparison is useful. Castelo is estimated at R$351,000, Buritis at R$396,000, Cidade Nova at R$405,000, and Santa Efigênia at R$436,000.
That is materially below Lourdes at R$693,000, Savassi at R$639,000, and Funcionários at R$596,000 for 1-bedroom apartments.
The yield spread is also meaningful. Castelo 1-bedroom apartments are estimated at 5.0% net yield, compared with 3.7% in Lourdes, 4.0% in Savassi, and 3.9% in Funcionários.
The practical takeaway is that affordable Belo Horizonte neighborhoods are not automatically weak. The best income areas solve real renter needs at a price that still leaves room for yield.
Where does the rent level justify the purchase price most clearly in Belo Horizonte?
The rent level most clearly justifies the purchase price in Castelo, Buritis, Santa Efigênia, Barro Preto, and Centro.
These areas have a better rent-to-price relationship than the prestige neighborhoods, especially for compact apartments.
Centro has the strongest studio gross yield in the table at 10.2%, with an estimated purchase price of R$255,000 and monthly rent of R$2,160.
Castelo is more balanced. Studios are estimated at 9.2% gross yield and 5.8% net yield, while 1-bedroom apartments are estimated at 8.0% gross yield and 5.0% net yield.
Buritis is rational because its prices remain lower than the Zona Sul core, while rents are supported by a deep residential tenant pool. Santa Efigênia works because hospital access and central connectivity support compact-unit demand.
The honest interpretation is that Lourdes and Savassi have high rents, but buyers pay even more for prestige and liquidity. We have actually built the our real estate pack about Belo Horizonte to make sure you won’t buy in the wrong area. Check it out.
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Where is the best place to buy if I want stable rental income rather than maximum yield in Belo Horizonte?
The best places to buy for stable rental income in Belo Horizonte are Savassi, Funcionários, Santo Agostinho, Anchieta, Buritis, and Santa Efigênia.
These neighborhoods are not always the highest-yielding areas, but they have deeper and more predictable tenant pools.
Savassi is the clearest stability market. A studio is estimated at 4.9% net yield, lower than Centro’s 6.1%, but the tenant base is broader and the resale story is easier to understand.
Funcionários and Santo Agostinho serve professionals, medical workers, office workers, and renters who want Centro-Sul convenience without necessarily paying the Lourdes premium.
Buritis is the stable non-core option. A 1-bedroom apartment is estimated at R$396,000 with R$2,520 monthly rent and 4.8% net yield.
The trade-off is return versus predictability. Centro may produce a higher number on paper, but older buildings, security perception, and tenant turnover can reduce the real advantage.
Which apartment type gives the best return for the lowest total investment in Belo Horizonte?
The apartment type that gives the best return for the lowest total investment in Belo Horizonte is usually the studio apartment, followed by the compact 1-bedroom apartment.
Studios give the highest yield because they rent efficiently relative to their purchase price. 1-bedroom apartments are usually more flexible and easier for a broader renter group.
The table shows why. Studio net yields often sit around 5.0% to 6.1% in practical areas, while 2-bedroom net yields are often closer to 3.0% to 4.0%.
The purchase ticket is also much lower. A Castelo studio is estimated at R$234,000, compared with R$546,000 for a Castelo 2-bedroom apartment.
Studios in Belo Horizonte are driven by students, young professionals, healthcare workers, single renters, and renters who value central access over space.
For a foreign buyer, the practical rule is simple: do not buy more apartment than the local tenant base wants to pay for. We give you more details in the our real estate pack about Belo Horizonte.
Which neighborhoods offer strong rental income with the lowest vacancy risk in Belo Horizonte?
The neighborhoods that combine strong rental income with lower vacancy risk in Belo Horizonte are Savassi, Funcionários, Santo Agostinho, Anchieta, Santa Efigênia, and Buritis.
These areas have rents supported by tenant depth, not only by optimistic asking prices.
Savassi and Funcionários benefit from walkability, offices, restaurants, services, and the Centro-Sul lifestyle. Estimated studio rents are R$2,700 in Savassi and R$2,520 in Funcionários.
Santa Efigênia is more practical than prestigious. A 1-bedroom apartment is estimated at R$2,700 monthly rent and 4.8% net yield, helped by hospitals and central access.
Buritis has a broad residential tenant pool. A 1-bedroom apartment is estimated around R$2,520 monthly rent and 4.8% net yield, with a lower purchase price than Savassi or Funcionários.
The honest interpretation is that high rent alone is not enough. Belvedere has high absolute rents, but the tenant pool is narrower and the purchase price is high, so the income case is less efficient.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Brazil versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Which areas look overpriced relative to their rental income in Belo Horizonte?
The areas that look most overpriced relative to rental income in Belo Horizonte are Lourdes, Belvedere, Santo Antônio, Sion, and parts of Savassi.
These are not bad neighborhoods. They are weak pure rental-yield neighborhoods because buyers pay a large premium for address, lifestyle, safety perception, and resale recognition.
Lourdes is the clearest example. A 2-bedroom apartment is estimated at R$1.078 million and R$4,200 monthly rent, producing only 4.7% gross yield and 2.9% net yield.
Belvedere is similar. A 2-bedroom apartment is estimated at R$886,000 and R$3,850 monthly rent, with 5.2% gross yield and 3.0% net yield.
Santo Antônio and Sion are good places to live, but the 2-bedroom net yields are only 2.9% and 3.1%, which is weak for a buyer focused on rental income.
The practical takeaway is not to reject these areas automatically. They may suit lifestyle buyers or capital-preservation buyers, but a beginner seeking cash flow should be careful.
Which neighborhoods should I avoid even if the rental yield looks attractive in Belo Horizonte?
Beginner investors should be careful with Centro, Barro Preto, and some older pockets of Prado and Ouro Preto, even when the rental yield looks attractive.
The issue is that the headline yield can hide vacancy, building, maintenance, security, and resale risks.
Centro has the strongest studio yield in the dataset at 10.2% gross and 6.1% net. That is attractive, but the net figure already assumes higher leakage because older buildings and tenant turnover can reduce real income.
Barro Preto also looks attractive, especially for studios at 5.7% net yield. But the area is more mixed-use than residential-lifestyle, so building choice matters heavily.
Ouro Preto and Prado are not avoid areas overall. The warning is about older buildings without parking, weak maintenance, poor common areas, or layouts that compete badly with newer units nearby.
For a beginner, the best Belo Horizonte apartment rental yield is not the highest number in the table. It is the highest number that can survive real-world vacancy, repairs, management, and resale pressure.
Which neighborhoods look risky even though the rental yield is high in Belo Horizonte?
The neighborhoods that can look risky despite high rental yield in Belo Horizonte are Centro, Barro Preto, and parts of Castelo, Ouro Preto, and Prado.
They can work, but the risk-adjusted yield depends heavily on the specific building, street, floor plan, parking, and maintenance situation.
Centro has the highest estimated studio net yield at 6.1%, but a renovated compact apartment near useful transport is very different from an old unit in a poorly managed building.
Barro Preto benefits from centrality, hospitals, offices, courts, and transport. The risk is that the area can be uneven block by block, and some renters prefer a more residential environment.
Castelo and Ouro Preto are more residential, but tenant demand can be price-sensitive. A weak garage situation or outdated building can lose renters to better units nearby.
A safer alternative is often Buritis. Its headline studio net yield is 5.7%, slightly below Centro, but the residential logic is easier for a beginner to understand.
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What neighborhoods should I avoid when buying a rental apartment in Belo Horizonte?
When buying a rental apartment in Belo Horizonte, a beginner should avoid overpriced luxury units in Belvedere and Lourdes, poor-quality older units in Centro and Barro Preto, and large 2-bedroom units in weak micro-locations.
This is not a full-neighborhood ban. It is a warning about the versions of each market where the rent does not compensate for the purchase price or the operational risk.
Belvedere is not a bad neighborhood, but it is a weak rental-yield target if bought at a luxury price. The estimated 2-bedroom net yield is only 3.0%.
Lourdes is excellent to live in, but expensive for income buyers. Its estimated 2-bedroom net yield is 2.9%, so the investor is mostly betting on prestige, liquidity, and long-term value.
Centro should be avoided by beginners unless the unit is renovated, secure, well-managed, and close to strong demand. The yield can be high, but the ownership experience can be harder.
Barro Preto should not be avoided completely. It should be avoided for weak buildings or large units, while compact apartments near employment and hospital demand are more defensible.
Which neighborhoods are seeing rental demand weaken, and why, in Belo Horizonte?
The neighborhoods showing the clearest rental-demand pressure are Belvedere, Estoril, Floresta, São Pedro, Santa Amélia, and Camargos, with Belvedere being the main caution inside the core apartment-investor list.
The issue is not that these locations have no demand. The issue is that some rents, purchase prices, and unit types appear stretched relative to what tenants are willing to absorb.
Belvedere’s problem is price sensitivity. Its prestige is real, but 1-bedroom apartments are estimated at only 3.4% net yield and 2-bedroom apartments at 3.0% net yield.
When rents are already high and units are larger or more expensive, the tenant pool becomes narrower. Families and executives have more room to negotiate or choose alternatives.
The contrast is useful. Santa Efigênia, Barro Preto, and practical central areas look more income-resilient because they serve specific tenant needs such as hospitals, offices, transport, and central access.
The recommendation is to treat weakening areas as price-sensitive, not impossible. Buy only with a discount, realistic rent assumption, and strong unit quality.
Which neighborhoods are seeing new developments that could create stronger rental demand in Belo Horizonte?
The main development-driven rental story in Belo Horizonte is around the Metro Line 2 corridor, especially areas connected to Nova Suíça, Amazonas, Nova Gameleira, Nova Cintra, Vista Alegre, Ferrugem, and Barreiro.
For apartment investors, the most relevant nearby areas include Barro Preto, Prado, Calafate, Nova Suíça, and western access corridors.
This matters because transport improvement can create rental demand by reducing commute friction. A renter may accept a less expensive western location if central jobs and services become easier to reach.
The practical effect is strongest where the transport benefit is already visible or close to delivery. Areas relying on later phases should be treated as more speculative.
Barro Preto benefits because it is already central and employment-heavy. Prado and nearby western neighborhoods can benefit if better access makes them more competitive with more expensive Centro-Sul addresses.
The caution is pricing. Once the metro story becomes obvious, sellers may price in future upside before rents fully adjust.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Brazil. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Which neighborhoods are becoming more attractive to renters because of recent infrastructure or transport changes in Belo Horizonte?
The neighborhoods becoming more attractive because of transport changes in Belo Horizonte are Barro Preto, Prado, Calafate and Nova Suíça-adjacent areas, and parts of the western corridor.
The reason is practical. Better rail access can reduce car dependence, improve access to central jobs, and make western neighborhoods easier to compare with more expensive Centro-Sul areas.
Barro Preto already has employment, hospitals, offices, legal services, and central access. Improved transport adds to an existing rental case rather than creating one from scratch.
Prado and nearby western areas can benefit if renters see a better commute without paying Savassi, Lourdes, or Funcionários prices.
The table already shows Prado as a workable income market, with 5.3% net yield for studios and 4.4% net yield for 1-bedroom apartments.
The caution is that infrastructure does not fix every apartment. A poorly maintained unit near transit can still underperform a better unit farther away.
Which neighborhoods have become less attractive for apartment investors over the last 12 months in Belo Horizonte?
The neighborhoods that have become less attractive for apartment investors are mainly Belvedere, some luxury pockets of Lourdes and Savassi, and weaker-performing rent markets such as Estoril and São Pedro.
The problem is not that these places became bad. The problem is that the balance between purchase price, rent, tenant depth, and net yield has become less forgiving.
Belvedere is the clearest caution in the table. A 1-bedroom apartment is estimated at R$569,000 and R$2,790 monthly rent, producing only 3.4% net yield.
Lourdes and Savassi remain highly liquid, but purchase prices are high. A buyer entering after price appreciation needs rent growth to keep up, and that is not guaranteed.
Lourdes 2-bedroom apartments show the issue clearly. The estimated purchase price is R$1.078 million, while the net yield is only 2.9%.
The recommendation is not to avoid these areas completely. Buy them only when the goal includes lifestyle, resale liquidity, or capital preservation, not maximum rental income.
Which apartment types are becoming harder to rent in Belo Horizonte, and in which neighborhoods?
The apartment types becoming harder to rent in Belo Horizonte are large expensive 2-bedroom apartments in premium areas and older compact apartments in weak buildings.
The problem is location-specific. A 2-bedroom apartment can work well in a family-oriented area, but it becomes less efficient when the purchase price is driven by prestige rather than rental income.
In Belvedere, Lourdes, Sion, and Santo Antônio, 2-bedroom apartments show weak net yields. The estimates are 3.0% in Belvedere, 2.9% in Lourdes, 3.1% in Sion, and 2.9% in Santo Antônio.
In Centro and Barro Preto, studios can rent well, but only if the building is secure, maintained, and practical. A cheap old studio with weak common areas may look high-yield but rent slowly.
In Buritis, Castelo, Anchieta, and Cidade Nova, 2-bedroom apartments are more defensible because family and middle-class residential demand is deeper.
The safest beginner rule in Belo Horizonte is to buy the smallest unit that still matches the neighborhood’s real tenant base. Studios work best in central, hospital, student, and lifestyle areas, while 2-bedroom apartments need family demand.
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INSIGHTS
These insights are drawn from the Belo Horizonte apartment rental yield dataset, with a focus on what a foreign individual buyer should understand before buying a residential apartment to rent out.
You’ll find even more insights in our our real estate pack about Belo Horizonte.
- Belo Horizonte studios usually beat larger apartments on yield because rent per square meter is much higher. For a beginner buyer, this means a smaller apartment can be more efficient than a larger apartment with a higher monthly rent.
- Centro has the highest studio yield in the dataset, but it is not automatically the safest choice. The 6.1% net yield must be weighed against older buildings, turnover, security perception, and maintenance risk.
- Castelo offers one of the best 1-bedroom yield profiles in Belo Horizonte. The R$351,000 estimated entry price and 5.0% net yield make it especially useful for income-focused buyers.
- Buritis is the clearest balance between yield, tenant depth, and affordable entry price. It may not have the prestige of Savassi or Lourdes, but the residential demand is broad and practical.
- Lourdes has premium rents, but purchase prices rise faster than rental income. That is why its 2-bedroom net yield falls to only 2.9%.
- Savassi is liquid and easy to understand, but the purchase-price premium limits yield. It is better for stability and resale recognition than for maximum cash flow.
- Belvedere is better for lifestyle and capital preservation than rental income. The low net yields show that prestige alone does not create an efficient rental investment.
- Santa Efigênia looks attractive because hospitals and central access support practical rental demand. A 1-bedroom apartment is estimated at 4.8% net yield, which is strong for a useful central location.
- Barro Preto works best for compact apartments, not larger family units. The studio net yield is 5.7%, but the 2-bedroom net yield falls to 3.6%.
- Two-bedroom apartments in Belo Horizonte usually need a family-oriented location to justify lower yields. Buritis, Castelo, Anchieta, and Cidade Nova are more defensible than luxury 2-bedroom units bought only for address.
- Santo Antônio and Sion are good places to live, but weaker pure rental-yield bets. Their 2-bedroom net yields are close to the bottom of the dataset.
- Ouro Preto and Castelo are more price-sensitive alternatives to Buritis for beginner investors. They can work well when the building is practical, maintained, and correctly priced.
- Anchieta and Santo Agostinho offer stability, but not bargain entry prices. They are useful for buyers who value predictable demand more than the very highest yield.
- High-rent Belo Horizonte neighborhoods are not always high-yield neighborhoods. Lourdes, Savassi, and Belvedere prove that a large rent check can still be a weak income return if the purchase price is too high.
- The best beginner strategy is usually a well-located studio or 1-bedroom apartment. A luxury 2-bedroom may feel safer, but the numbers often show weaker income efficiency.
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OUR METHODOLOGY TO BUILD THIS TRACKER
To estimate purchase price, monthly rent, and rental yield in different Belo Horizonte neighborhoods, we built the analysis manually from the ground up by neighborhood and apartment type.
We did not reuse a third-party yield dataset. For each area and property type covered in the tracker, we manually researched current residential sale listings and current residential rental listings across major platforms such as ZAP Imóveis, Viva Real, and QuintoAndar.
First, we collected sale listings for each neighborhood and apartment type. We then removed duplicates, excluded non-comparable properties, filtered out unrealistic asking prices, and cleaned out luxury outliers, distressed assets, serviced-style offers, incomplete listings, and other properties that would distort the estimate.
For the purchase-price side, we kept only reasonably comparable apartments based on location, property type, size, condition, and listing quality. We used the median price as the main reference where possible, or the average only when the sample was clean enough.
We then built the rental side of the dataset separately. For the same neighborhood and apartment type, we collected rental listings, removed outliers and non-comparable listings, and estimated a realistic monthly rent using the median rent where possible.
Purchase prices and rents were researched separately, then matched by neighborhood and property type to estimate gross rental yield. Gross rental yield is calculated as annual rent divided by estimated purchase price.
To estimate net yield, we adjusted for the costs and risks that matter for each property type and neighborhood. These include vacancy risk, maintenance, management costs, leasing friction, agent fees, tax friction, repairs, utilities, service charges, building costs, and other operating costs when relevant.
We did not apply one flat discount to every property. The deduction is adjusted by neighborhood and apartment type because a small central apartment, a larger family apartment, and an older unit in a more operationally difficult building do not have the same cost structure.
Each estimate is assigned a confidence level based on the quality and size of the comparable listing sample. A sample of 30 to 40 comparable listings means higher confidence. A sample of 20 to 30 comparable listings is usable but less robust. Fewer than 20 comparable listings means the estimate is directional only, unless the comparable area is widened carefully.
These estimates are updated regularly and should be read as structured market estimates, not as guarantees of future rental income. Honesty, quality, and rigor are at the core of our work, and they are also what you will find in our real estate pack about Belo Horizonte.
