Authored by the expert who managed and guided the team behind the Belarus Property Pack
Everything you need to know before buying real estate is included in our Belarus Property Pack
Why is Belarus emerging as a compelling destination for property investment in 2025? Is it the attractive property prices, the growing economy, or the strategic location in Eastern Europe? What are the key benefits for investors?
We often encounter these questions because we are actively engaged with local developers, real estate agents, and investors like you. With the increasing interest in this market, we've decided to compile our insights into a comprehensive article for everyone's benefit.
Our aim is to present a clear case for investing in Belarus's real estate market, supported by our firsthand experience and market expertise.
If you feel we've overlooked an important aspect or want more information, please reach out (we respond very quickly). Your feedback enhances our content.
Finally, please remember that this is not financial or investment advice. Real estate investment involves inherent risks, and market conditions can change unexpectedly. We strongly recommend conducting thorough research and consulting with a qualified financial advisor before making any investment decisions.
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1) Urbanization is growing, so more people need to rent a place
Belarus is seeing a shift towards urban living, with more people moving to cities.
In 2023, the urban population was 7,409,732, a clear sign of the country's urbanization. While the growth rate dipped slightly by -0.03789% that year, the long-term trend from 1961 to 2023 shows an average increase of 0.792%. This indicates a steady move towards city life.
The National Infrastructure Plan (NIP) for Belarus, running from 2016 to 2030, is all about boosting infrastructure, including housing. This plan is designed to balance socio-economic growth by improving infrastructure and getting private investors involved. The focus on urban development points to a rising demand for city housing.
People are leaving rural areas for the big cities, drawn by their opportunities and lifestyle. This migration trend is a key factor in the growing need for urban homes. Cities in Belarus are becoming more attractive, fueling the demand for residential properties.
Sources: Trading Economics, World Bank, Miensk Urban Space
2) In Belarus, you’ll find high-quality construction thanks to its strong tradition of craftsmanship
Belarus is known for its strong tradition of craftsmanship, which shines through in the quality of its new construction projects.
In 2023, the Belarusian construction market was valued at $8.3 billion, and it's expected to keep growing. This growth is fueled by major investments in infrastructure, including transport and housing, as well as a focus on energy projects.
Belarusian construction companies have earned a reputation for quality and reliability on the international stage. For example, Minsk Automobile Plant (MAZ) and Belarusian Autoworks (BEAZ) are renowned for their top-notch vehicles and machinery, which are used globally.
These companies have showcased their craftsmanship in events like the Dakar race marathon and have received numerous international awards. This highlights the global recognition of Belarusian craftsmanship.
Belarusian materials have been used in high-profile international projects, such as the construction of Olympic facilities and the National Stadium in Warsaw. This demonstrates the durability and high standards of Belarusian steel products.
Additionally, the reconstruction of the Cathedral of Christ the Savior in Moscow featured Belarusian products, further underscoring the international acclaim for Belarusian craftsmanship.
Sources: GlobalData, Belarus.by, Belarusian Union of Architects
We have made this infographic to give you a quick and clear snapshot of the property market in Belarus. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) In Belarus, a strong tradition of homeownership keeps the real estate market stable
Belarus is known for its strong tradition of homeownership, which keeps the real estate market stable.
In 2023, about 68.6% of Belarusians lived in multi-apartment buildings, showing a high rate of homeownership. The government has been actively supporting this trend with policies like low-interest mortgage loans and subsidies for first-time buyers. These efforts make it easier for people to buy homes, contributing to the steady rise in property values.
The real estate market is expected to reach $384.30 billion by 2024, thanks to these supportive measures. Low mortgage interest rates have also made financing more accessible, encouraging more people to invest in property. This is particularly true in urban areas like Minsk, where demand remains strong.
In cities, the availability of accessible credit products and increased loan amounts has kept the housing demand stable. People find it easier to secure loans, making homeownership more attainable. This has been a key factor in maintaining the market's growth.
Belarus's approach to real estate is unique, with a focus on making homeownership achievable for many. The government's initiatives have not only boosted the market but also ensured that property remains a valuable investment. This strategy has been effective in keeping the market robust and appealing to potential buyers.
Sources: 1prof.by, Statista, SB.by
4) Business travelers create a high demand for short-term rentals, making the rental market strong
The rental market is booming, driven by a surge in demand for short-term rentals from business travelers.
In Belarus, the rise in business conferences and events, like the one in Mogilev in December 2024, is a key factor. These gatherings attract numerous entrepreneurs and business owners, creating a strong need for short-term accommodations.
International business travel to Belarus has been on the rise, with historical data pointing to a steady increase in arrivals. This trend suggests that the influx of international visitors is likely to continue, further boosting the demand for short-term rentals.
Business travelers often choose short-term rentals for their flexibility and privacy. This preference is part of a global trend where short-term rentals are favored for offering a more immersive local experience.
These factors combine to create a robust rental market in Belarus today. The demand is not just about convenience; it's about the unique experience that short-term rentals provide, aligning with the global desire for authentic travel experiences.
With the ongoing increase in business activities and international arrivals, the rental market remains strong. The preference for short-term rentals among business travelers is a significant driver, ensuring a steady demand for these accommodations.
Sources: Business Conferences in Belarus, International Tourism Arrivals in Belarus, Global Short-Term Vacation Rentals Business Report
5) Belarus has a rich natural landscape, so there is a lot of scenic properties
Belarus is a country with a stunning natural landscape that makes buying property in scenic areas very appealing.
One of the main attractions is the extensive forest cover, which has been further enhanced by recent efforts to plant more trees and shrubs, especially around populated areas. This not only boosts the green scenery but also contributes to a healthier environment.
Belarus boasts four national parks, including the renowned Belavezhskaya Pushcha National Park, which it shares with Poland. These parks, along with numerous nature reserves, cover vast areas and offer breathtaking natural beauty, making them a significant draw for nature lovers.
In recent years, there's been a noticeable increase in the number of tourists visiting Belarus, attracted by its picturesque regions. This surge in tourism is largely due to government initiatives promoting eco-tourism, which have made these natural areas more accessible and appealing to visitors.
For those considering buying property, the appeal is not just in the beauty of the landscape but also in the potential for investment in eco-tourism. The growing interest in sustainable travel means properties in these areas could see increased value.
With its rich natural resources and strategic efforts to enhance and promote them, Belarus offers a unique opportunity for property buyers looking to invest in a country with a commitment to preserving its natural beauty.
Sources: OOS.by, Wikipedia, President.gov.by, UNDP.org
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6) Belarus’s location between Russia and the EU makes it ideal for international investors
Belarus's strategic location between Russia and the European Union makes it a key player in regional trade and investment.
With its central position, Belarus has seen a notable rise in foreign direct investment, increasing by 1.6 billion USD in March 2024. This growth is partly due to its trade agreements with both Russia and the EU, which enhance its role as a transit hub. Despite past sanctions, Belarus's importance in regional trade remains significant.
Infrastructure development is a priority, with projects like highway renovations and railway electrification boosting transport efficiency and safety. These improvements are crucial for maintaining Belarus's status as a major transit hub in Eastern Europe.
The logistics and transportation sectors are vital to the Belarusian economy, contributing significantly to its services exports and foreign trade balance. Belarus is actively expanding container train transportation between China and Europe, which is a strategic move to enhance its connectivity and trade routes.
Additionally, the country is building cargo terminals on the Belarusian-Polish border, further solidifying its position as a key transit point. This development is expected to streamline the flow of goods and bolster economic ties with neighboring countries.
Sources: CEIC Data, EU Trade, President of Belarus
7) A well-educated workforce in the country boosts economic growth due to its high literacy rate
Belarus boasts an impressive 99.7% literacy rate, making it one of the most literate countries globally.
In Belarus, nearly everyone has attended primary and secondary schools, and many pursue higher education. This widespread educational attainment means the workforce is not just literate but also skilled in various fields. The education system offers numerous opportunities for advanced learning, enhancing the workforce's capabilities.
Belarus is committed to improving education quality, using tools like the World Bank’s SABER program to enhance student assessments. This focus ensures students are not just attending school but are genuinely learning, resulting in a more competent workforce.
Employers in Belarus are generally satisfied with the skills of the workforce, as shown by surveys. The labor market is tight, with low unemployment rates, indicating that businesses are happy with the workforce's competencies. This satisfaction is vital for economic growth, as it allows businesses to rely on a skilled workforce to drive productivity.
Belarus's high literacy rate contributes to a well-educated workforce, which supports economic growth. The country's focus on education quality and skill development ensures that the workforce is not only literate but also capable of innovation.
With a strong educational foundation, Belarus is well-positioned to support economic growth through a well-educated and skilled workforce.
Sources: Education in the Republic of Belarus, Belarus Economy: GDP Growth, Inflation, Labor Shortages, Belarus Student Assessment: SABER Country Report 2015, Belarus to Improve Quality of School Education, with World Bank Support
8) The government provides incentives for foreign investors, making real estate an attractive option
Belarus is rolling out the red carpet for foreign investors, especially in real estate, with generous government incentives.
Imagine not paying income tax on your property investments for a decade. That's right, foreign investors enjoy a 10-year income tax exemption, followed by a 50% reduction for the next ten years. The same goes for real estate tax, making the financial landscape much friendlier for those looking to invest in Belarusian properties.
Buying property in Belarus is also a breeze, thanks to simplified acquisition procedures. The government has cut down on red tape, making it easier for foreigners to purchase and manage real estate. This streamlined process is part of a broader strategy to attract more international capital.
Special economic zones and the Hi-Tech Park Belarus are magnets for foreign investment. These areas offer favorable conditions like tax breaks and easy procedures, which have already led to successful real estate ventures. The government's focus on infrastructure, such as the China-Belarus Industrial Park, further boosts property values.
These initiatives are not just about tax breaks; they're about creating a welcoming environment for investors. The combination of tax incentives and infrastructure development makes Belarus a compelling choice for those looking to invest in real estate.
With these incentives, Belarus is positioning itself as a prime destination for foreign capital, offering a unique blend of financial benefits and growth potential in the real estate sector.
Sources: Codozasady, UNCTAD, Economy of Belarus
We made this infographic to show you how property prices in Belarus compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) With healthcare improving, Belarus is becoming more appealing for long-term residents
The healthcare system in Belarus is becoming more attractive for long-term residents due to significant improvements in recent years.
One major change is the increased government investment in healthcare infrastructure. In 2023, Belarus nearly doubled its funding compared to the previous year, focusing on acquiring essential medical equipment and vehicles like ambulances and mobile medical units. This boost is crucial for enhancing the overall healthcare delivery system, making it more efficient and reliable for everyone.
Belarus has also made strides in upgrading its medical technology. By 2023, the country had added several high-tech units, including CT and MRI scanners, angiographs, and linear accelerators. These advancements ensure that residents have access to modern and effective healthcare services, which is a big draw for those considering a move to the country.
Efforts to improve healthcare access in rural areas are also noteworthy. Belarus is expanding interdistrict and interregional centers and utilizing mobile medical systems. This means that even those living in remote areas can receive comprehensive medical care, making healthcare more accessible to all residents.
For those thinking about buying property in Belarus, these healthcare improvements are a significant factor. The availability of advanced medical technology and increased accessibility in rural areas make the country a more appealing option for long-term living.
Sources: Invest in Belarus, President of Belarus, UN Social Affairs
10) With a booming IT sector, Belarus is attracting young professionals who need housing
Belarus is experiencing a boom in its IT sector, drawing in young professionals who need places to live.
At the heart of this growth is the High-Tech Park (HTP) in Minsk, a bustling hub for IT companies. By 2020, it housed over 1,000 companies, including big names like Wargaming and EPAM Systems. The government has been a strong supporter, offering tax breaks and easy regulations through initiatives like the HTP. This has made Belarus a hotspot for startups and innovation, especially after the 2018 Decree on HTP 2.0, which created a unique business climate.
In Belarus, IT professionals enjoy competitive salaries, with programmers earning over $2,200 on average. This financial incentive attracts many young professionals who prefer city life, increasing the demand for modern housing in urban areas like Minsk. Real estate reports show that property values are rising in areas with a high concentration of IT companies.
For those considering buying property in Belarus, it's worth noting that the IT sector's growth is not just about numbers. The presence of global companies and a supportive government environment make it a vibrant place to live and work. The influx of young professionals is transforming urban areas, leading to a demand for modern amenities and housing options.
Living in cities like Minsk offers a dynamic lifestyle, with a mix of traditional charm and modern conveniences. The growing IT sector is a key driver of this change, making it an exciting time to invest in property. Whether you're looking for a home or an investment opportunity, the thriving IT industry is a promising factor to consider.
Sources: OSW, President of Belarus, Emerging Europe, Belarus.by
11) With a growing middle class, there’s more demand for quality housing
Belarus is seeing significant economic growth in 2023 and 2024.
With the economy booming, the country's GDP jumped by 5.5% year-on-year in the second quarter of 2024. This surge is largely due to high consumer demand and labor shortages, which have also led to a 22% rise in real wages since 2021. This means the middle class is enjoying a better standard of living, and they're looking for quality homes to match their improved lifestyle.
People in Belarus are feeling more confident about their finances, as shown by the Consumer Confidence Index hitting its highest level since December 2021 in July 2024. This optimism is pushing more folks to invest in better housing. Plus, as more people move to big cities, there's a growing desire for higher housing standards, which is driving up demand for quality homes.
The construction market is buzzing, with its size reaching $8.3 billion in 2023. It's expected to keep growing at over 3% annually from 2025 to 2028. This boom is backed by investments in transport networks and housing, along with government efforts to boost energy infrastructure. All these moves are aimed at catering to the housing needs of the expanding middle class.
Urbanization is a big trend here, with many people flocking to cities. This shift is not just about moving; it's about wanting better living conditions, which is why the demand for quality housing is on the rise. The government and private sectors are working together to make sure the housing market can keep up with this demand.
So, if you're thinking about buying property in Belarus, now might be a good time. The country's growing middle class is driving a strong demand for quality housing, and the market is set to expand even more in the coming years.
Sources: Free Policy Briefs, Econstor, GlobalData
Buying real estate in Belaruscan be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
12) You’ll enjoy better tax conditions as a property owner here compared to many European countries
Belarus is a great place for property buyers because of its favorable tax conditions compared to many European countries.
One big perk is the lower property tax rates. In Belarus, these rates are much more affordable than in places like Greece and the UK, making it easier on your wallet if you own property there.
Plus, if you decide to sell your property, there's no capital gains tax for individuals. Instead, you pay a flat income tax rate of 13%, which is generally lower than what you'd find in many other European nations. This setup is pretty appealing for investors looking to cash in on their real estate.
For those renting out properties, the tax situation is also quite friendly. Rental income is taxed at a flat rate of 13%, and you can deduct expenses related to generating that income. This makes managing your taxes a lot simpler and less stressful.
Belarus's tax system is designed to be straightforward, which is a big plus for property owners and investors. The simplified tax regime means fewer headaches when it comes to handling your tax obligations.
Overall, these tax benefits make Belarus an attractive option for anyone considering buying property, especially when compared to other European countries with more complex and higher tax rates.
Sources: The Luxury Playbook, Global Property Guide
13) With the government focusing on economic reforms, property values in Belarus could rise
The government in Belarus is focused on economic reforms, which could lead to increased property values.
One sign of this focus is the rise in foreign investment despite international sanctions. In 2023, Belarus saw a 3.9% GDP growth, mainly due to demand from Russia and efforts to boost local economic activity. This growth is a promising indicator for potential property buyers.
Belarus aims to keep inflation in check, targeting 5% by 2025. This commitment to price stability shows the government's dedication to creating a stable economic environment. Such stability is crucial for anyone considering investing in property, as it suggests a more predictable market.
Infrastructure is another area seeing significant investment, with projects in roads, railroads, and telecommunications. These developments are expected to create a more efficient business environment, which could further drive economic growth and, in turn, property values.
International real estate investors are taking notice, encouraged by the positive economic outlook from global financial institutions. This growing interest could lead to higher property values as more investors seek to tap into Belarus's economic potential.
For those considering buying property in Belarus, these economic reforms and investments present a unique opportunity. The government's focus on creating a stable and efficient business environment could make Belarus an attractive option for property investment.
Sources: Newsletter European, Global Monitor
14) The government's investment in infrastructure is boosting accessibility and property values
The government is boosting infrastructure to enhance accessibility and property values.
There's been a noticeable uptick in government spending on road and rail networks, thanks to public-private partnerships. These collaborations, involving private companies and international financial institutions, are key to upgrading the country's transportation systems. Imagine smoother roads and faster trains making your daily commute a breeze.
New public transportation systems, including airports, are also on the agenda. These upgrades aim to cut down congestion and travel times, making it easier for everyone to get around. For instance, areas like the China-Belarus Industrial Park Great Stone are already seeing property prices climb due to these improvements.
Foreign investment is another big player here. International companies are diving into various construction projects, bringing in a wave of investment. This influx is not just building structures; it's fueling the growth of the construction and real estate sectors, which in turn is pushing property values up.
With these developments, the country is becoming more attractive to potential property buyers. The improved infrastructure means better connectivity and convenience, which are key factors in increasing property demand. So, if you're considering buying property, these changes might just tip the scales in favor of investing now.
As the government continues to pour resources into infrastructure, the ripple effect on property values is expected to grow. This strategic focus on development is not just about roads and rails; it's about creating a more connected and valuable living environment.
Sources: Revera Legal, Global Monitor, President of Belarus
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Belarus. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
15) Belarus’s great public transport makes properties easy to access
Belarus boasts a well-developed public transportation system, making properties easily accessible.
In Minsk, the public transport network is impressive, with buses, trolleybuses, and trams running frequently, especially during rush hours. The metro is a standout, operating every two minutes, while other modes run every five minutes, ensuring you’re never waiting long to get where you need to go.
The government is committed to enhancing this system, investing in modern and eco-friendly electric buses. Plans to purchase new trams show a dedication to keeping the system efficient and up-to-date, making public transport a reliable choice for daily commutes.
Public satisfaction is high, largely due to the system's punctuality and reliability. In Minsk, almost every bus stop features electronic boards with real-time route and arrival information, helping passengers plan their journeys with ease.
For those considering property in Belarus, the proximity to these transport hubs is a major plus. The convenience of having such a reliable system nearby can significantly enhance the value and appeal of a property.
Whether you’re commuting to work or exploring the city, the ease of access provided by public transport makes life in Belarus both convenient and efficient.
16) Belarus has a strong education system, which attracts families who value good schools
Belarus boasts an impressive 99.7% literacy rate, highlighting its commitment to education.
The government has been pouring resources into education, with projects like the World Bank-supported Education Modernization Project enhancing school facilities and creating science centers. This means students have access to modern, well-equipped learning environments.
Belarus dedicates about 5% of its GDP to education, aligning with many developed European nations. This financial dedication underscores the country's focus on nurturing a strong educational framework.
With a network of over 8,000 educational institutions, Belarus ensures education is accessible to all, from general to special needs education. This extensive network means families can find suitable schooling options for their children, no matter their needs.
Families moving to Belarus can expect a robust education system that prioritizes quality and accessibility. The country's investment in education infrastructure and resources is a testament to its commitment to providing excellent schooling opportunities.
For those considering a move, the strong education system in Belarus is a significant draw, especially for families who value education. The country's focus on maintaining high standards in education makes it an attractive option for potential property buyers.
Sources: President of Belarus, World Bank
17) Belarus is investing in renewable energy, which makes properties more sustainable and appealing
Belarus is making big moves in renewable energy investment.
The government is rolling out policies like feed-in tariffs and tax exemptions to attract investors. These incentives are drawing both local and international interest, giving the sector a real boost. By 2023, Belarus set its sights on expanding wind, solar, biomass, and biogas energy. The goal is to add 500 MW of wind energy through private investments by 2030, aiming for 40% of electricity from renewables by then.
For homebuyers, this means a shift towards more sustainable living. The government is pushing for renewable energy in residential areas, offering incentives that make eco-friendly homes more appealing. This trend is catching on as people become more aware of climate change and the perks of energy-efficient homes. Consumer surveys show that more folks are interested in these sustainable options.
Imagine living in a home that not only saves on energy bills but also contributes to a greener planet. With Belarus's focus on renewables, properties are becoming more attractive to buyers who care about sustainability. The country is not just talking the talk; it's walking the walk with real investments and policies that support a cleaner future.
As a potential property buyer, you might find these developments exciting. The shift towards renewable energy isn't just about the environment; it's about creating homes that are future-proof and cost-effective. With the government's backing, these sustainable homes are becoming a smart choice for anyone looking to invest in property.
So, if you're considering buying a property in Belarus, keep an eye on these renewable energy trends. They could make your future home not just a place to live, but a part of a larger movement towards sustainability.
Sources: Enercee, Markwide Research
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.