Expensive Residential Spaces Take Over Regional Cities, Leaving You Astonished
In the second quarter of 2025, the leading regional centers in Belarus saw a rise in average housing prices, with significant variations across cities.
In the city of Mogilev, the average housing prices increased by 5%, reaching $880 per square meter. However, the city recorded the lowest figures in turnover, with a total of $16.7 million. The most expensive deal per square meter was made in Mogilev, with a 30m2 apartment in the Zadneprovye microdistrict selling for $1860 per square meter.
The Grodno region, on the other hand, had the highest turnover, with a total of $32.8 million. The largest increase in the cost per square meter was recorded in Grodno (+14% at $840/m2). It's worth noting that in Grodno and Brest, "two-bedroom" apartments are predominantly bought.
Vitebsk also experienced a 4% increase in average housing prices, reaching $790 per square meter. Similarly, Gomel saw a 10% increase in average housing prices, reaching $870 per square meter. In Vitebsk, Gomel, and Mogilev, there is an even demand for one- and two-room apartments.
The total number of deals in regional centers decreased by 16% to 2,700. The largest deal in terms of total sum was made in Brest, with a 120m2 apartment in the city center (new build in 2023) selling for $201,000.
In comparison, the global real estate market saw notable changes as well. In New York City (NYC), the overall median sale price increased by 4%, reaching nearly $800,000. Manhattan dominated the top 10 priciest neighborhoods, with TriBeCa experiencing a 43% year-over-year price growth, the strongest among top NYC areas.
In Singapore, private housing prices rose 1.0% quarter-over-quarter (q-o-q) in Q2 2025, with landed properties leading at 2.2% q-o-q growth. Among non-landed segments, the Core Central Region (CCR) led with a 3.0% q-o-q increase.
Key insights from the data show that TriBeCa stands out for the largest price appreciation in NYC among top neighborhoods in Q2 2025. Hudson Yards holds the highest per-property median price despite price decreases. The luxury deal at 111 West 57th Street is the most expensive closed transaction known in this period, while a $110 million quadplex remains listed. Singapore’s Core Central Region leads its local market in quarterly price growth but with less dramatic percentage increases than NYC’s top neighborhoods.
It's important to note that there is no publicly available data on the largest deals by total sum outside NYC or Singapore, nor detailed per square meter prices beyond these. The overall global regional ranking cannot be fully established given current data limits.
- Despite the variations in housing prices across cities in Belarus, certain regional centers such as Grodno and Brest showed an increase in 'turnover' with the former recording the highest at $32.8 million.
- In the commercial real-estate market, the global landscape saw strong growth, with Manhattan's TriBeCa neighborhood experiencing a significant 43% year-over-year price growth, making it one of the priciest areas in New York City.
- While detailed figures on 'commercial' property transactions outside of New York City and Singapore are not publicly available, Singapore's Core Central Region leads its local market in quarterly price growth, albeit with less dramatic percentage increases than NYC's top neighborhoods.
