"If A Russian Wants To Buy A Home In Belarus, The Price Tag Needs To Be Set Higher."

The real estate market in Belarus has changed significantly in recent times.

The real estate market in Belarus has changed significantly in recent times. The price per square meter for existing homes in need of renovation ranges from 4,800 to 5,100 rubles, as noted by the director of a real estate agency in a recent interview. On average, however, the price per square meter in Minsk is 6,000–7,500 rubles, and in newly built, renovated properties, it can reach as high as 20,000 rubles.

For many Belarusians, such amounts are completely unaffordable—even if they take out a mortgage. “Solidarnast” looked into just how pressing this issue is.

“It’s unrealistic for a young couple like us to buy an apartment”

Matvey and Anna are both 27 years old. The couple has been living apart from their parents for two years now, renting an apartment. They’d like to have a child in the coming years, but the housing situation is a cause for concern. Due to high prices, buying their own apartment, they say, seems impossible.

— Because of the Russians, the real estate market has skyrocketed to the point where it’s now unrealistic for a young couple like us to buy an apartment,” Matvey explains. “And not just for young people, but for the average Belarusian in general.” It’s more cost-effective to rent for the rest of your life. A mortgage is also something we can’t afford, especially if we’re planning to have a child and my wife will be on maternity leave in the coming years.

Knock on wood, the rental market has stalled right now. But prices have gone up recently anyway. A year and a half ago, we were renting a two-room apartment near the metro for 300; now, far from the metro, it’s 400. That’s basically the average price for a simple two-room apartment in Minsk. In nice neighborhoods, in new buildings, or near the metro, it’s already 500–600. Considering that our average salary is around 700, how are we supposed to get by on what’s left? We spend about $300 just on groceries.

We checked out the Novaya Borovaya website; it has a loan calculator and a payment schedule. There’s even a five-year grace period where you only have to pay about 2,000 rubles a month. But when that ends, the monthly payment jumps to 4,000 rubles for the remaining 20 years.

Matvey’s wife continues:

“Our combined salaries total 6,000 rubles. More than four thousand of that will go toward the loan alone,” says Anna. “But it’s a new building; we’ll have to renovate it and buy furniture, and all that costs money too. So what are we supposed to do: take out another loan?”

The couple notes that the problem of owning a home is a pressing issue for many young families. It’s only a bit easier for those who already own at least some property that they can sell.

“My friend has a very large studio apartment in a nice neighborhood. But they’re planning to have children and want more space, so they sold their one-bedroom apartment, took out a loan, and bought a three-bedroom apartment—albeit a smaller one in terms of square footage. According to their estimates, another 30,000–50,000 dollars will go toward renovations. That’s also on credit. But at least it seems realistic, considering they sold the studio for a good price.

For those who have nothing to sell, according to “Solidarnast” interviewees, buying a home in Belarus right now is unrealistic.

“If parents on both sides help out, the six of you could still save up for one apartment,” Matvey continues. “But my wife and I would like to do it all on our own.” Right now, it feels like you have to do something illegal to buy your own home.

Both Anya and I have good salaries, but not enough to build a house. Our friends are in the same situation, including those in regional cities. Some are even considering taking out a loan to build a house, because it would be much cheaper than buying an apartment.

Considering that my wife won’t be working while on maternity leave, I’d need to earn at least 7,000 rubles to cover the loan payments and live comfortably. Because we can’t count on maternity benefits—that’s only 1,000 rubles. Not to mention that you have to prepare for pregnancy: see doctors, get tests done. You can’t skimp on a child’s health.

I don’t even know what to do or how to plan my life and having children. Many people say this bubble is bound to burst soon. The question is—how long will this “soon” last? We can wait another five years without having children, but any longer than that is unlikely.

So our plan is to keep renting an apartment. Earning $2,000 between the two of us and paying $400 in rent gives us a comfortable standard of living and the ability to save.

But if we take out a loan even for a “resale” apartment (for some reason, even “resale” apartments aren’t any cheaper than new construction, though they shouldn’t be), we’ll have to pay about $1,000 a month for housing and cut back on a lot of things.

No one in our circle understands how to buy an apartment; we discuss this from time to time. There’s this concept called “housing balance”—on the one hand, it’s a great idea; on the other, it’s risky. You invest money in a housing cooperative, but you aren’t the owner of the apartment until you’ve paid off the loan. What if the company goes bankrupt? Your money goes down the drain.

It’s clear that Russians have influenced prices. They’re buying up housing here—for them, the prices are low. And we sit here wondering: how do we adapt to all this, how do we save up? I think we need to pass a law: if a Russian wants to buy a home in Belarus, the price tag should be set much higher. Otherwise, Belarusians will be left without apartments.

Some friends of ours recently went—just out of curiosity—to look at an apartment in the “DEPO” residential complex, where the price per square meter is about $4,000. And in the courtyards there, most of the cars have Russian license plates. That’s because most Belarusians can’t afford apartments like that.

“We’re lucky: we bought a two-bedroom apartment for $45,000 that was in pretty good condition”

Stanislav and his wife are both 42 years old. A year ago, the family bought an apartment in Vitebsk on a mortgage.

— We started looking for an apartment six months before the purchase. While two years ago you could buy a resale apartment in Vitebsk for around $30,000, just 1–1.5 years ago the price was already $40,000.

In other words, prices have risen significantly. And yet there’s no housing frenzy in the Vitebsk region—it’s the most underdeveloped region in Belarus. I think we’re lucky: we bought a two-room apartment for $45,000 that was in pretty good condition.

We made a down payment of about $15,000; the loan interest rate is 16.5%, taking into account the discount we received because we were on the waiting list for the expansion.

We have to pay about 1,500 rubles a month. It’s manageable for our budget, but it’s still a bit of a strain. At first, we tried to pay more each month to pay it off faster, but we couldn’t keep that up for long—our salaries aren’t going up, after all.

That said, I’ll note that the situation in Vitebsk is still pretty good. My sister bought an apartment in Minsk a few years ago for $70,000. Now it’s worth $110,000. That’s a very good investment. But this also speaks to the situation on the market—it’s becoming increasingly difficult for the average Belarusian, even with a salary of 3,000 rubles, to buy a home. I’d say it’s practically impossible.

In new residential complexes, the price per square meter reaches up to $4,000. And the quality of the housing there, as they say, isn’t great. The kitchen and living room are combined, the balcony windows are wobbly, the elevator takes forever to arrive, and there are few parking spaces since every meter is built up.

The cost of rental housing is also rising now. For work, I often have to stay in Minsk. Whereas a night at the “Minsk-Mir” used to cost 100–110 rubles, now 200 is the best you can hope for. A couple of times they gave me a discount as a regular customer, but then they stopped. The landlady said, “You have to understand, Russians are coming here now, and we’re making money.”

“It’s scary to realize that I might never have a place of my own”

Yana is 27 years old; she’s been renting an apartment in Minsk with a friend for several years now. She moved to the capital from the Mogilev region.

— We have a two-room apartment and a shared living room that doubles as a kitchen. It comes out to $300 for the two of us, plus utilities. The neighborhood is very nice, and that’s a reasonable price for it. We’re lucky—we’re renting through a personal connection. I checked recently: the average rent in this neighborhood is $500. I realize that without personal connections, I wouldn’t be able to rent a place here.

I also checked real estate websites about a month ago—even a non-“grandma-style” apartment in a residential neighborhood starts at $400. At the same time, you often come across unfinished buildings with bare walls for $250—it’s really sad.

Ideally, I’d like to live alone, since I’m a homebody and love having time to myself. But it’s such a waste to spend that much money on a place where I’ll only spend the evening, night, and morning. I often talk to my parents about buying my own apartment. But I’m not ready to take out a loan right now. And it’s not even certain that I’d be approved for one: I recently read that in Minsk, you need to earn 5,000 rubles to get approved.

Here’s why I don’t want to: first, it’s a big responsibility, and I’m not sure I can handle the loan payments. Second, I’d have to rent a place while the apartment is being renovated—that’s an extra expense. And third—there’s no certainty about the future.

My parents talk about the housing waiting list: when you make a down payment, they put you on the waiting list, and in 2–3 years, you can buy an apartment with a loan. But this whole topic feels very uncertain. It’s impossible to plan anything right now.

It’s scary to realize that I might never own my own home, but that’s the reality. I’m already coming to terms with this idea.

At the same time, I’m definitely against buying a home together with a boyfriend—I believe I should have my own place so I always have somewhere to come back to.

“No matter how hard I try, I realize I won’t be able to afford an apartment on my own”

Alexandra is 28 years old. She’s been renting an apartment in Minsk for 2.5 years. Recently, her rent was raised by $50.

— Right now, I’m paying $500. Considering the recent renovations, the great location, and the square meters, it’s actually a good price. I like the neighborhood: there are coffee shops, marketplace pickup points, restaurants, and a gym. The only downside is the parking situation. But that’s a problem in a lot of places these days.

Over the past few years, I’ve thought a lot about my living situation and went to consultations at various residential complexes. I clearly remember that the apartment I looked at in “Novaya Borovaya” cost about $100,000 in the second half of 2024. In 2025, when I decided to look into it again, the same apartment would have cost 125,000. Now I don’t even want to look anymore.

I don’t have a husband, a boyfriend, or financial support from my parents. No matter how hard I try, I realize that I won’t be able to pull off buying an apartment on my own. Just a month ago, I realized this and accepted it.

I won’t be able to work, travel, or enjoy life if I take out a 20-year mortgage. But I’m not discouraged, and I don’t see anything wrong with renting for the rest of my life.

“We’re Counting on Our Parents’ Apartments”

Evgeniya and her husband are 30 years old. For the past few years, the couple has been living with Evgeniya’s grandmother.

— Until 2023, we were renting an apartment—a one-bedroom that cost $250. But then my mom left to work in another country, and my husband and I decided to move in with my grandmother so she wouldn’t be alone. Since then, apartment rental prices have gone way up. And it’s not that easy to find a place, especially with pets. My friends spent over a month looking for an apartment: they thought they’d find something for up to $350, but in the end, they rented a standard one-bedroom in an average neighborhood for $400.

My husband and I considered buying our own place, but we crunched the numbers, and it’s terrifying. Mortgage interest rates are crazy, too. So for now, our hope lies with our parents’ apartments.

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