Commercial Real Estate - Belarus | Statista Market Forecast

The Commercial Real Estate market market in Belarus is expected to reach a value of US$117.10bn by 2024.
This projection indicates a steady growth rate with a compound annual growth rate (CAGR 2024-2029) of 3.79%.
By 2029, the market volume is expected to reach US$141.00bn.
When compared globally, the United States is anticipated to generate the highest value in the Real Estate market, amounting to US$25.3tn in 2024.
The commercial real estate market in Belarus is experiencing a surge in demand due to the country's strategic location and growing economy.

Definition:

Commercial real estate can be defined as properties that are used for business purposes, such as office buildings, retail spaces, warehouses, and industrial properties.

Additional information:

The commercial real estate market contains the value of commercial properties as a key performance indicator. This is the worth of all office buildings, retail spaces warehouses, and industrial properties for the timeline of our data coverage.

Office buildings
Retail spaces
Warehouses
Industrial properties

Residential real estate
Publicly owned buildings used by the local government
Buildings used for public health care services

The Commercial Real Estate market in Belarus is experiencing significant growth and development in recent years.

Customer preferences: Customers in the Commercial Real Estate market in Belarus are increasingly looking for modern and well-equipped office spaces that provide a comfortable and productive working environment. They also value locations that are easily accessible and have good transportation links. Additionally, there is a growing demand for retail spaces that cater to the needs and preferences of the local population.

Trends in the market: One of the key trends in the Commercial Real Estate market in Belarus is the increasing number of foreign investments in the sector. This is driven by the country's favorable business environment and government initiatives to attract foreign capital. As a result, there has been a significant increase in the construction of commercial properties, including office buildings, retail centers, and industrial facilities. Another trend in the market is the growing popularity of mixed-use developments. These developments combine different types of real estate, such as residential, commercial, and recreational, in a single project. This trend is driven by the desire for convenience and the demand for integrated living and working spaces.

Local special circumstances: One of the special circumstances in the Commercial Real Estate market in Belarus is the government's focus on economic diversification. The government has implemented various measures to attract foreign investments and promote the development of the commercial real estate sector. These measures include tax incentives, simplified regulations, and the establishment of special economic zones.

Underlying macroeconomic factors: The growth and development of the Commercial Real Estate market in Belarus can be attributed to several underlying macroeconomic factors. Firstly, the country's stable political environment and favorable business climate have attracted both domestic and foreign investors. Secondly, Belarus has a well-educated workforce and a strong industrial base, which has contributed to the demand for commercial properties. Furthermore, the government's efforts to improve infrastructure and transportation networks have also played a role in the development of the market. These improvements have made it easier for businesses to operate and have increased the attractiveness of certain locations for commercial real estate development. In conclusion, the Commercial Real Estate market in Belarus is experiencing significant growth and development, driven by customer preferences for modern and well-equipped spaces, the increasing number of foreign investments, and the government's focus on economic diversification. The market is also influenced by underlying macroeconomic factors such as the country's stable political environment, favorable business climate, and efforts to improve infrastructure. These factors are expected to continue driving the growth of the market in the coming years.

Data coverage:

Figures are based on value of commercial real estate.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

After a challenging period during the coronavirus pandemic, the European commercial real estate sector now faces additional pressures, including inflation, record-high interest rates, and sluggish economic growth. In 2022, these challenges were evident through contracting investment volumes in the two largest markets—the United Kingdom and Germany. Although the shifting economic landscape has impacted all commercial real estate subsectors, industrial and logistics—a property type that demonstrated incredible resilience during the pandemic—continues to be the most popular investment class. The performance of the sector is closely tied to the state of the economy, explaining why cities with flourishing capital markets garner the most interest from investors. In 2023, investors identified London, Paris, and Madrid as the three most attractive markets.

Growing demand for industrial and logistic real estate is prominent in Europe, driven by the increase in online retail sales rather than in-store. All the Nordic countries saw steady growth in their e-commerce sales during the past fifteen years and more, and the growth is expected to continue. Investments in the industrial and logistic real estate industry have generally been at a higher level during the last few years. The highest investment value among European countries in the first half of 2021 was in the United Kingdom, while Sweden topped the list among the Nordic countries, and was fifth in terms of industrial and logistics investment in real estate in Europe that year.