Discussing Potential Decrease in Housing Prices through New Regulations with Real Estate Agents
Revamped Housing Situation in Belarus
June 2025 witnessed two groundbreaking decrees reshaping the Belarusian housing market. Certified realtor and lawyer Olga Shchetnikova believes these changes bring a new wave to the industry. Here's a breakdown of the key updates and their potential impacts.
State-Funded Assistance
Although the primary types of government aid - one-time subsidies, preferential loans, and financial assistance - remain the same, their distribution and eligibility have seen shifts. The new decrees continue supporting young families, military personnel, and law enforcement officers, among others.
"Now, seventeen categories of citizens can claim one-time subsidies, including disabled individuals, war veterans, and large families with four or more children," notes Olga Shchetnikova.
Young and large families can anticipate financial assistance for housing loan repayments, with large families being eligible for 75% to 100% support, and young families receiving 10% to 20% assistance upon the birth of a child.
End of Shared Construction
A significant innovation is the replacement of shared construction with fixed housing prices. The government will now directly fund the construction of multi-apartment buildings for priority groups without requiring Belarusian funds. Instead of paying for a project or a pit, residents will pay for the actual walls of their apartments.
While this may diminish consumer choice, the advantages include reduced risks, timely delivery, and full compliance with GOST standards on apartment finishes. Despite private companies potentially offering more comfortable housing, the focus of state programs is on providing basic and affordable accommodation.
New Decrees and Housing Pricing Mechanism
The cost per square meter of housing built under state order is now set by a clearly established mechanism, with prices being fixed at 20-25% below market rates. This should make housing more affordable for not just privileged categories but also those waiting to upgrade their living conditions.
Selling Declined Housing
If a large family rejects the provided apartment, it can be sold to those on the waiting list. This arrangement promotes some form of equality between the two groups, making housing more accessible to the population.
Rental Housing advancements
The new decrees further advance the rental housing system. While this sector is still in its infancy in the country, the government plans to offer state support for companies constructing rental homes to accommodate young professionals faster, helping them settle down at their workplaces.
Transition in Subsidy Policies
Subsidies for repaying commercial loans, particularly for shared construction, will no longer be common practice for new loans. Instead, families will be offered preferential loans to purchase state-ordered housing or, for eligible categories, receive financial aid for repaying their existing commercial loans. The new system allows exceptions only for commercial loans obtained before 1 June 2025 for shared construction with a published project declaration by the end of the same month.
Centralized Government Support
The new decrees consolidate all rules related to housing support, making it easier for citizens to understand their entitlements and leverage available opportunities. Additionally, controlling inflation through fixed prices on new buildings constructed under state orders should help contain the increase in the cost per square meter.
- Olga Shchetnikova, the certified realtor and lawyer, indicates that the new decrees in Belarus' housing market, including the consolidation of rules related to housing support, are expected to bring a new wave to the personal-finance sector, particularly in real-estate investing.
- The new decrees also include the transition in subsidy policies, with state-funded assistance altering the landscape of housing loan repayments, as young families can receive 10% to 20% assistance and large families being eligible for 75% to 100% support in personal-finance matters.
