Real estate in new buildings from developers of Belarus
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Real estate in Belarus
Location, climate, and economy
Belarus (officially Republic of Belarus) - a country located in the eastern part of Europe, is the largest country in terms of territory (of those that are entirely in Europe). The relief of the country is a plain with rare elevations, more than a third is occupied by swamps, the soils are excessively moistened; it has no access to the seas.
The climate is temperate continental, in the western part of the country it is transitional from maritime to continental due to the influence of air masses from the Atlantic Ocean. The summer is warm, the temperature is from +18 to +20°C. In winter the temperature is from -4 to 8°C. Significant precipitation falls during the autumn-winter period.
The country has developed agriculture and engineering, as well as metalworking, potash salt mining, chemical, petrochemical, light, food, forestry, and electric power industries. The country's partner in foreign trade is Russia. In the economy, the public sector has priority, the country is largely dependent on energy supplies from Russia.
Market and price of real estate in Belarus
According to experts, the real estate market in Belarus has been put on pause. The supply is increasing, prices are falling even in the capital - Minsk. The political and economic crisis, Western sanctions, mass migration of IT employees and other specialists affected this tendency. Potential buyers are not willing to buy real estate immediately, but to save money in the face of uncertainty.
The sale of real estate in Belarus is also significantly hampered due to instability in the foreign exchange market (it is exacerbated by the impact of sanctions), as sellers hardly agree to reduce the cost in dollars (here they prefer to peg the price to the dollar). Demand for real estate is deferred in the medium term, until the situation changes dramatically.
Thus, real estate in Belarus is attractive for domestic buyers, it is not interesting for foreign investors in order to avoid political risks and difficulties in the economy. The exception is foreign investors from the countries of the post-Soviet space, Belarusians who have gone abroad, changed their citizenship, who want to make an acquisition in their homeland in order to profit from renting the property out or leasing it to the relatives.
The cost of real estate in Belarus (per sq. m) starts from:
- 200 USD - apartments,
- 150 USD - detached houses,
- 30 USD - commercial space,
- 7 USD - land.
Price values are in constant dynamics, so only up-to-date information can be useful.
Property types for sale
- primary and secondary real estate, including apartments, detached houses, commercial properties,
- land plots (only for citizens of the country).
Real estate website in Belarus
It is safer to use the information of experts and follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a catalog of various real estate in Belarus.
Buying real estate in Belarus: the nuances
The purchase of real estate in Belarus by foreigners is allowed without restrictions, with the exception of land plots. The land is leased from the state for a period of ninety-nine years.
It makes sense before concluding a contract of sale to check all the circumstances associated with a future transaction by contacting a qualified specialist for help.
Buying real estate in Belarus is promising for local investors in order to receive a permanent rental income.