The number of real estate transactions in Belarus beats all records. During the year, apartments in the capital grew in price by 20 percent. The main foreign buyers of real estate in the country are still Russians.
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In recent years, the trends of the Belarusian real estate market are largely repeated by processes in other countries of Eastern Europe, such as Estonia and Latvia.
The period of 2000-2007 The market was characterized by rapid growth in all indicators. Crisis 2008 did not go around Belarus. The collapse was crushing and long. In 2008, the cost per square meter of housing in Minsk was an average of $ 1950, already in 2011 – less than $ 1300. At the same time, the number of real estate transactions has sharply reduced.
Meanwhile, in 2012, the Belarusian real estate market began to take the path of stabilization. How, by the way, the same Latvia and Estonia. According to the National Cadastral Agency, 35 thousand apartments were bought, which has been a record since 2008. In the 2013, the number of buyers has become even larger. Increased demand has led to an increase in real estate prices. In mid -July of this year, a square meter of housing in the secondary market of the capital cost an average of $ 1550, which is 20 percent higher than last year.
In Belarus, it is not behind the growth and cost of rental housing. This is especially noticeable in the capital. If in 2011 a two-room apartment in the sleeping area of Minsk was rented for $ 250-300, then a year later the same housing-for $ 400. The difference between the lease of rent and the increase in the cost of housing, not so sharp, contributed to sales – it became more profitable to have their own apartment than renting it.