Property for sale in Belarus
Traveling through Minsk, it is immediately evident that this city is affected by a building boom that may have no precedents in the country. The construction projects promoted by the Government are, in effect, of different urban areas. From the center to the outskirts, along the numerous metropolitan areas connected by large road arteries of Soviet design. Huge buildings are visible in various stages of construction and dozens of cranes and excavators at work. In Minsk, with its 1.7 million inhabitants, buildings of all kinds are built: for commercial and cultural activities, but also new student residences and the third subway network, apparently without paying for expenses. A phenomenon that in this direction also drags other Belarusian cities, from Vitebsk to Brest, from Mogilev to Gomel, albeit certainly less pronounced.
So it could be a very good momet to buy a property for sale in Belarus.
Rents of apartments on the market, especially in the city, are not exactly within reach of the portfolio (the average salary is between 200 and 300 dollars) and the tax is still quite high, due to an economic system still too closed.
For now, moreover, many of the development projects, as well as public investments, are financed with funds from Russia. But the real news, for those who look with amazement at the building boom in progress in Belarus, or for those who want to buy a property for sale in Belarus, is the building of a huge Chinese industrial park that is rising in the Smolevichsky district, close to the Minsk2 international airport.
This country of the CIS, which has a very high public debt, and is struggling to reconcile the economy that is still planned in the past with the future, is already in reserve, in a short-medium term, that is, within five years ,at least eighty projects worth 27 billion dollars. At stake are contracts of considerable financial value that the regime intends to promote with a more open approach and by making the competition compete.
The real estate market in Belarus is on the rise and the prices are rather moderate, there are some peculiarities that foreign citizens have to bear in mind if they want to buy property for sale in Belarus:land is not for sale, only the buildings, and purchases of real estate are accompanied by a long-term land rent contract (for 99 years at most).
Land plots can be owned by citizens of the Republic of Belarus, non-state legal persons of the Republic of Belarus, foreign nations, and international organizations