We use cookies and similar methods to offer the best experience to all visitors and to remember their preferences. Please take a moment to review our Privacy Policy. By tapping “accept”, you consent to the use of these methods.

SBI - GERAL Q1 2026
+2.90 % 351.30
=
INCOME RETURN
+2.07 % +
APPRECIATION RETURN
+0.83 %
USD / REAL
0.00 % 5.02
CAN / REAL
0.00 % 3.64
EURO / REAL
0.00 % 5.82
IBOVESPA
-0.70 % 118,939.87 PTS
IFIX
0.00 % 3,855.09 PTS
SELIC
14.50 % 23.May.2026

Corporate Expansion: Office Vacancy in Belo Horizonte Drops to 11% as New Developments Emerge

  • Office vacancy continues to decline in the capital of Minas Gerais, which is set to receive 14,8 thousand m² of new developments by 2025

Bruno Lasansky, CEO of Localiza
Bruno Lasansky, CEO of Localiza
By: SiiLA News
03/13/2025

With a population of 2.3 million, Belo Horizonte is one of the main capitals in Brazil’s Southeast region. As a metropolitan hub, the city hosts a large concentration of companies and, consequently, office spaces. Since 2021, the office vacancy rate in the region has been steadily declining.

Currently, the city’s office vacancy rate stands at 11%, with the total inventory of Class A+, A, and B buildings reaching 339,900 square meters. Since 2021, vacancy has fallen from 18.1% to 12.3% in 2022, then to 11.8% in 2023, and finally to 11% by the end of 2024.

In 2025, Belo Horizonte is expected to see the addition of two new office buildings: History Corporate Funcionários and PHM Savassi, which will collectively add 14,8 thousand m² to the city’s inventory.

The most recent office development delivered was the Statement building in 2023, which brought 11,6 thousand m² to the market. It is currently occupied by banks, financial firms, and other companies in the FIRE sector (Finance, Insurance, and Real Estate).

Latam
Brazil
Minas Gerais
Office
Market Analytics
Market Trends

ABOUT SiiLA

Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.

Zolver

Premium offices expand beyond São Paulo’s traditional hubs
05/20/2026
São Paulo premium office leasing hits post-pandemic high as companies seek more dynamic spaces
05/19/2026
Multifamily gains momentum in Brazil as more people live alone and prioritize everyday convenience
05/18/2026
Toky Group Tries to Rebuild After Billion-Real Bankruptcy Protection Filing, Raising Concerns for Logistics FIIs
05/14/2026
Carrefour Throws in the Towel to Cash-and-Carry in Brazil; Atacadão, Assaí and Grupo Mateus Expand
05/12/2026

Investments


Daniel Rose, CEO of APM Terminals Suape and Pecém
Record Growth: 7.9% Vacancy in Northeast Fails to Slow Logistics Expansion
Benny Finzi, country manager of 7 Bridges
7 Bridges Capital Sees Industrial Property Market as a Primary Investment Target

Market Trends

Thais Koch, director at Koch Construtora
Real Estate Culture Sets Rio and São Paulo Apart: On the Coast, the View Matters; in São Paulo, Prestige Comes from Location
Giancarlo Nicastro, CEO of SiiLA
A 12% Vacancy Rate Marks Balance in Mature Real Estate Markets — Here’s Why

Trusted by Leading Publications

EXCLUSIVE CONTENT

Join our mailing list for Real Estate News, Events, Insights & Resources.

SiiLA News on Mobile - Stay Updated Anytime, Anywhere. Read Latest Real Estate News from your phone