Devaluation froze the housing market in Belarus

25.05.2011 17:08
Articles about real estate | Devaluation froze the housing market in Belarus The weakening of the Belarusian ruble is practically froze the housing market. Expecting a further decline of the national currency, many developers have decided not to risk it and stop contracting shared construction.

Those who refused to break, try to shift the currency risk on the buyer, told Ezhednevnik "the head of the One City Real Estate Services (EGSN) Alexander Lositsky.

Related article: Homebuyers have forgotten the lessons of the crisis

According to experts, the official devaluation of the Belarusian ruble will change little in the housing market. "While all care about how long they will hold the official dollar exchange rate in the range 5,000 rubles, - said Alexander Lositsky. - However, given that developers and sellers are traditionally in the currency zone, and the ruble for them is a means of allocation, the cost of housing in the national currency has increased. " Less than a month, private construction companies have raised construction costs by about 50%. And, it seems, is not the limit.

According to the press service of the EGSN, most prices in national currency impact on the primary market. Some developers have even thought about the opportunity to increase the cost of housing is not indexed for real estate investors. "The secondary market became more flexible. But here, retailers are trying to negotiate a higher rate to customers, because they do not believe that they will buy currency benefit ", - explained the director EGSN.

Meanwhile, in contrast to prices, wages Belarusians remain the same. "In recent years, the housing market and so lacked the solvent Belarusians, and higher prices for construction proposal and does shrunk to incredibly small quantities", - said Alexander Lositsky. Today, therefore, the buyer was in a privileged position and competent tactics can solve the housing problem in their favor by offering sellers the game rules, and in particular by insisting on a major discount, sometimes up to 20% of the original price.

Despite the weakening national currency, on the secondary market has remained competitive proposals for metropolitan apartments. "Indeed, the cheap apartments on the market there and a lot of them", - assured EGSN. So, if you want you can find "emergency" flat costs 800-1000 dollars per square meter.

"Customers keep deposits in Belarusian rubles, were faced with a difficult choice: on the one hand, the Belarusian ruble as an asset loses its appeal, with another - housing significantly increased in price, - the expert said. - As for the supporters of foreign currency, then they can use this situation to solve the housing problem in their favor on the secondary market. "

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Content tags: Housing
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