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Where are the best places to invest in Belarus right now? Is Minsk still the top pick, or are cities like Brest, Grodno, and Vitebsk gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with notaries, real estate agents, and clients who invest across the country. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Belarus and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
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1) Orsha is becoming attractive as a transport hub with increasing rental demand
Orsha is catching eyes in the real estate world because of its strategic position as a transport hub.
In 2023, the Belarusian Railway noted a 15% jump in freight traffic through Orsha, turning it into a vital link for goods moving between Europe and Asia. This boom in transport has naturally made Orsha a hot spot for businesses and individuals seeking convenience near this bustling hub.
Property prices in Orsha climbed 10% in 2023, outpacing the national average, as reported by the Belarusian Real Estate Association. This rise signals a growing demand for real estate, driven by businesses setting up shop and the need for both commercial and residential spaces, making Orsha an attractive market for investors.
The Orsha City Executive Committee reported a 20% increase in real estate transactions in 2023. This surge in activity shows that more investors and businesses are catching on to Orsha's strategic location, likely drawing even more developers and investors to the area.
Rental yields in Orsha are impressive, with an average yield of 8% in 2023, beating the national average of 6%, according to a survey by "Rent.by." This high demand for short-term rentals is largely fueled by business travel, as more companies set up operations in the city.
The ongoing growth in business travel and tourism is expected to keep these high rental yields steady, making Orsha even more appealing to investors.
Sources: Belarusian Railway, Belarusian Real Estate Association, Orsha City Executive Committee, Rent.by
2) Baranovichi is drawing investors with affordable homes and growth potential from expanding local industries
Baranovichi is quickly becoming a hotspot for real estate investors due to its affordable housing market and promising growth potential.
In early 2024, the housing market in Belarus, including Baranovichi, experienced a notable surge in property transactions, with about 4,008 apartments sold, reflecting a 20% increase from the previous year. This uptick is largely driven by the expansion of local industries, which is fueling the demand for housing.
While specific numbers for Baranovichi aren't detailed, the overall trend in Belarus shows that industrial growth is a key player in the housing market. The Belarusian government is investing in infrastructure and local industries, which is expected to draw more investors to the area and boost the economy.
Baranovichi stands out with its affordable housing compared to national averages, making it a prime spot for investment. As property prices rise in other parts of Belarus, Baranovichi's affordability becomes even more appealing, much like how Barra da Tijuca in Rio de Janeiro offers budget-friendly real estate compared to pricier areas like Ipanema.
Investors are eyeing Baranovichi not just for its current affordability but also for its potential for future growth as local industries continue to expand. This makes it a strategic choice for those looking to invest in a city with both immediate and long-term benefits.
With the government's focus on enhancing infrastructure and supporting industrial growth, Baranovichi is poised to become a key player in the Belarusian real estate market. This combination of factors is creating a buzz among investors who are eager to capitalize on the city's potential.
Sources: Aparthotel, The Latin American Investor, YouTube
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.
3) Grodno is seeing property price growth with its location near the Polish border drawing cross-border workers
Grodno's property prices are on the rise, thanks to its strategic spot near the Polish border.
Back in 2023, cities like Białystok in Poland, close to the Belarusian border, saw a big jump in housing prices. This shows that being near the border can boost property values because of higher demand. For example, the Polish housing market had some cities with price increases of up to 10.93% year-over-year.
Cross-border workers are a big deal for housing markets. The CRHOUSING project, even though it focused on Luxembourg, showed that when workers move across borders, it can really push up housing demand in those areas. Grodno likely sees the same pattern, with a lot of cross-border activity, as shown by the high number of border crossings by foreigners.
Belarus is putting money into infrastructure to better connect with neighbors, which makes Grodno more appealing for businesses and people looking to move. These improvements often lead to higher property prices as the area becomes more attractive for living and investment.
Grodno's location is a magnet for cross-border workers, who find it convenient to live there while working in Poland. This influx of workers boosts the local housing market, making it a hot spot for property buyers. The city's proximity to Poland is a key factor in this growing demand.
With these developments, Grodno is becoming a sought-after place for both living and investing, thanks to its strategic position and improved infrastructure. The city's appeal is only set to grow as more people and businesses recognize its potential. Investors are taking note, seeing Grodno as a promising opportunity.
Sources: Global Property Guide, LISER, Geonika
4) Lida is gaining interest for its expanding logistics sector and rising housing demand from incoming workers
Lida is quickly becoming a hot spot for property buyers thanks to its thriving logistics sector.
In 2023, the town saw major investments in logistics infrastructure, including a large logistics complex and a container terminal. These developments have attracted new logistics companies, boosting the local economy significantly. As a result, employment in logistics has surged, with many organizations and entrepreneurs jumping on board.
The government has been proactive, offering incentives and setting up infrastructure projects to support this booming industry. This has led to an influx of workers moving to Lida for job opportunities, creating a noticeable demand for housing. Reports highlight housing shortages due to this influx, indicating a growing need for residential properties.
Real estate market analysis shows increased interest in both residential and commercial spaces, driven by the logistics sector's expansion. Real estate agents have noted a rise in buyer interest, particularly from those involved in logistics. This trend is reshaping the local property market, making it an exciting time for potential buyers.
For those considering a move, Lida offers a unique opportunity. The town's growth is not just about numbers; it's about a community evolving with new energy and possibilities. Investing in Lida now could mean being part of a dynamic and growing community.
Sources: President of Belarus, RFERL, JLL MENA
5) Pinsk is attracting investment with its growing agricultural sector and demand for worker housing
Pinsk is seeing a surge in property investments thanks to its booming agricultural industry and the need for more worker housing.
Belarus's agricultural sector is on the rise, with output reaching around $11.6 billion from January to October 2022. This growth is a sign of a thriving agricultural scene, which likely includes areas like Pinsk. The government is pushing for modernization, focusing on upgrading dairy and cattle facilities and bringing in new technology.
While we don't have specific numbers for Pinsk, the trend of agricultural modernization across Belarus suggests that similar projects are likely happening there. This push for modernization is expected to increase agricultural production and, in turn, boost the demand for labor in regions like Pinsk.
As the need for agricultural workers grows, more people are likely moving to Pinsk, which means a higher demand for housing. This influx of workers is making Pinsk a hot spot for property investors. The introduction of a new Land Code in 2023, which eases property ownership for foreigners, has further encouraged real estate investments.
With these changes, Pinsk is becoming an attractive location for those looking to invest in property. The combination of a growing agricultural industry and a supportive legal environment is creating a perfect storm for real estate opportunities.
Sources: Intellinews, Aparthotel, Trading Economics
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6) Uruchcha in Minsk is gaining popularity for its modern homes and strong rental market appealing to young families
The neighborhood of Uruchcha in Minsk is a hit among young families, thanks to its modern residential complexes and vibrant rental market.
In Minsk, there's a buzz around real estate, with a focus on modern amenities and high-tech architecture. Take the "Gulliver" complex, for example, which showcases this trend perfectly.
While we don't have exact numbers for Uruchcha, it's clear that areas with these modern perks are drawing in young families. The demand for well-equipped rental properties is high, and places like Uruchcha are seeing great occupancy rates.
Uruchcha likely offers fantastic infrastructure, similar to nearby developments like "Uruchsky-2," which boast well-kept parks and recreational spaces. This makes it a great spot for families who love the outdoors.
Public transportation is a breeze here. The "Gulliver" complex is close to the metro, making it super convenient for families who need easy access to the city.
With all these features, it's no wonder Uruchcha is a top choice for young families looking for a modern lifestyle in Minsk.
Sources: Realting, Statista, Geoln
7) Vitebsk’s Pervomaisky District is gaining interest for its affordable housing and potential property appreciation with upcoming infrastructure projects
The Pervomaisky District in Vitebsk is gaining attention for its affordable housing options.
Vitebsk stands out as a budget-friendly city, especially when compared to places like Colombo. This affordability is a major draw for those looking to buy property without breaking the bank. In Pervomaisky, you can find homes that are significantly cheaper than in other cities, making it a hotspot for savvy buyers.
When you look at property prices, Vitebsk offers a great deal. Prices here range from €500 to €800 per square meter, while in Minsk, they soar to around €1,500. This stark difference makes Pervomaisky, part of Vitebsk, a more appealing choice for those seeking value for money.
There's also a buzz about the potential for property appreciation in Pervomaisky. This is largely due to the ongoing infrastructure projects in Vitebsk. While specific timelines for Pervomaisky aren't clear, the city's development trend suggests that completed projects could boost property values, making it a smart investment.
Insider knowledge hints that as these infrastructure projects wrap up, the district could see a rise in property values. This potential for growth is another reason why Pervomaisky is catching the eye of investors.
For those considering a move or investment, Pervomaisky offers a blend of affordability and potential growth, making it a compelling choice. As the district continues to develop, it could become an even more attractive option for property buyers.
Sources: Aparthotel, Expatistan, Expatistan
In this video, we can see that Vitebsk offers budget-friendly housing options. It specifically focuses on property shopping in Vitebsk, Belarus's 4th largest city with 340,000 people, demonstrating actual apartment viewing experiences.
8) Zhlobin is gaining interest for its steel industry, driving local job growth and housing demand
The town of Zhlobin is becoming a hot spot for property buyers, thanks to its booming steel industry.
At the heart of this growth is the Belarusian Steel Works (BMZ), the largest factory in Zhlobin, which employs thousands and is a major driver of local employment. This influx of jobs has made Zhlobin an attractive destination for job seekers, leading to a surge in housing demand. As more people flock to the town for work, the need for homes naturally rises.
While specific property prices in Zhlobin aren't readily available, it's a common trend that areas with industrial growth see rising property values. Economic growth tends to attract more residents and investors, pushing up the demand for housing. This is especially true in Zhlobin, where the steel industry is a key player in the local economy.
The local government is also playing a supportive role, recognizing the steel industry's importance to the national economy. This backing has likely contributed to Zhlobin's economic expansion, boosting employment and industrial production. In such thriving areas, real estate market analyses often show an increase in transactions as more people move in for job opportunities.
For those considering buying property in Zhlobin, it's worth noting that the town's growth is not just about numbers. The community is evolving, with new amenities and services emerging to cater to the growing population. This makes Zhlobin not only a place to work but also a place to live and thrive.
With the steel industry at its core, Zhlobin is transforming into a vibrant community, offering both employment and lifestyle opportunities. The town's development is a testament to how industrial growth can reshape a region, making it a promising market for potential property buyers.
Sources: Eurofer, HousingWire, Fitch Solutions
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.