Residential Real Estate - Belarus

The Residential Real Estate market market in Belarus is estimated to reach a value of US$384.30bn by 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of 3.48%, leading to a market volume of US$456.00bn by 2029.
In comparison to other countries, China is expected to generate the highest value in the Real Estate market, with a projected value of US$112.9tn in 2024.
Despite economic challenges, the residential real estate market in Belarus is experiencing a steady increase in demand due to government incentives for homebuyers.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Belarus has experienced significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trajectory. Customer preferences in the Residential Real Estate market in Belarus have shifted towards modern and well-equipped properties. Buyers and renters are increasingly seeking properties with amenities such as parking spaces, fitness centers, and green spaces. This preference for convenience and comfort has driven developers to focus on constructing residential buildings that meet these demands. Additionally, there has been a growing interest in energy-efficient and environmentally-friendly properties, reflecting a global trend towards sustainability. Trends in the market have also played a role in the development of the Residential Real Estate market in Belarus. One notable trend is the increasing popularity of high-rise apartment buildings. These buildings offer a range of benefits, including efficient use of space, enhanced security measures, and access to shared facilities. The construction of such buildings has been driven by the need to accommodate the growing urban population and maximize land utilization. Another trend is the rise of mixed-use developments, which combine residential, commercial, and recreational spaces in a single complex. This trend reflects the desire for convenience and accessibility, as residents can live, work, and socialize within the same area. Local special circumstances have further influenced the Residential Real Estate market in Belarus. One such circumstance is the government's efforts to encourage home ownership. Belarus has implemented various policies and incentives to make it easier for individuals to purchase residential properties. These initiatives include low-interest mortgage loans, subsidies for first-time homebuyers, and simplified administrative procedures. These measures have stimulated demand in the market and contributed to the overall growth of the real estate sector. Underlying macroeconomic factors have also played a significant role in the development of the Residential Real Estate market in Belarus. The country's stable economic growth and low unemployment rate have instilled confidence in both buyers and investors. Additionally, low interest rates and favorable lending conditions have made it more affordable for individuals to finance their real estate purchases. These factors have created a conducive environment for the growth of the Residential Real Estate market in Belarus. In conclusion, the Residential Real Estate market in Belarus has experienced growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards modern and well-equipped properties, the popularity of high-rise apartment buildings and mixed-use developments, government initiatives to encourage home ownership, and the favorable macroeconomic environment have all contributed to the positive trajectory of the market.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. 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.

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Residential Real Estate - Belarus

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

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