Belarus Real estate

Belarus Facts cover information on the economy of Belarus. Belarus is a lower middle-income country as declared by the World Bank 2006 and comes under the Europe and Central Asian region. GDP in Belarus has maintained a steady growth rate from 2006 through 2007. In 2006 the GDP growth was recorded to be 9.9% while in 2007 it recorded a growth of 9%. In the coming years it is expected that Belarus’ GDP will witness a marked change and will register a growth of 108.6% which is a record in itself. The other aspects of the economy are complementing the GDP growth equally.

Belarus Real Estate market has scaled a good height in the past few years. Properties in the area of Minsk have experienced a hike in the price due to an increase in demand. The other areas recorded a comparatively lower rise of price. But whatever the reason may be the demand for the properties in Belarus has risen and that is affecting the real estate market positively.

Property Market In Belarus

The commercial properties include business centers, administrative buildings, and office premises. The buyers are willing to pay any price for the property. This is a very healthy trend for the real estate market in Belarus. In fact, the demand of properties has recorded such heights that the supply of properties has failed to satiate the buyers. The cost of one square meter of official buildings range between USD 600 and USD 3500 depending on certain factors. However the experts forecast that the price of the properties will continue to increase in the coming years. The price of the housing properties increases by 20% per year. This makes the real estate business in Belarus one of the most profitable ones. The cost per square meter of a residential complex is around USD 340. Therefore investors can gain a lot by investing in this business.

Regulation of the Real Estate Market in Belarus

On July 22, 2002 the Law of the Republic of Belarus “On State Registration of Immovable Property Rights to It and Related Transaction” was implemented which permitted the transaction of property in Belarus. Following the implementation of this law the real estate market in Belarus boomed. This segment of law lays out a structure on the various aspects of land acquisition in Belarus. There are twenty articles, which provide guidelines regarding property transaction in Belarus.

Realtors in Belarus

There are a number of real estate agents in Belarus running the real estate business successfully. The leading ones are:

• Emerald Dunes Real Estate
• Auction Seized homes
• Minnesota Real estate and Homes for Sale
• Wanamove: Property for Sale and Advertising
• Pirin Golf & Country Club Bansko- razing Bulgaria
• Homestreet Realty

There is a peculiar trend in Belarus for people living in joint families. The Kommalki were constructed during the 20s for the working class residing in the big cities. That tradition still exists among the people and they reside all together. This form of living helps to save money, as it is not much expensive.