Property Market in Belarus by October fell by more than half

27.10.2009 13:54
In September 2229 Belarus has been committed transactions on purchase and sale of apartments (according to the National Cadastral Agency). It is almost 15% less than in August, as compared with September 2008 - more than 35%.

Given that, according to realtors, a fall in prices was about 30% of the property market in the country declined more than twice and has a tendency to further decline due to falling demand.

The September volume of transactions in the country - the minimum from the beginning of summer, when the price drop has stopped. During the three summer months, the volume of transactions fluctuated slightly, but had a clear downward trend: 2673 transactions in June, 2577 - July, 2511 - in August.

Certain expectations of potential buyers are associated with September, hoping for another reduction in housing prices. While realtors and sellers are expecting a traditional spike in sales. However, the echoes of the crisis, on the one hand, and the intransigence of the sellers - the other, led to the fact that the number of deals dropped to 2229. At the same time, some realtors say with confidence about the prices started rising.

In particular, according to the site, price per square meter on the market in Minsk in September grew at 0.37%, and three weeks in October - another 0.8%. But at the same time, data from the National Cadastral Agency suggests that after a spike in June, when 992 transactions were recorded (as long as the record for 2009), the activity of buyers has declined. So, in July NCA has already recorded 948 transactions in August - 885 September - 860. Decline compared with September of 2008, when the capital was committed in 1193 the deal was 28%.

At the same time in the summer the volume of transactions was almost traditional for the summer season: if the three summer months of 2008 were committed in 2972 ??deal, the June-August - 2825. That is critical collapse has not occurred: the fall of the volume of transactions compared to same period last year was only about 5%. Approximately the same ratio of 9 months of this year (7095 deals) with the same period (7483).

That is about 5%. Thus, in September, which had pinned some hope all the players in the market, they are not completely justified. Nevertheless, in December occurred and the transaction of a few hundred thousand dollars. In particular, at most, perhaps, expensive street of Minsk - the Pioneers - was sold to another elite apartment. Shestikomnatnye apartments with total area of ??212.3 sq treated to a new owner to Br837, 3 million

Disappointing statistics on the flats and transactions in the regions. In some areas, falling transaction volume in September compared with September of 2008 approaches 50% mark. For example, in the Brest region in September last year was recorded 393 transactions with apartments. The current - 209. The Gomel region in September was committed 226 deals, while a year earlier NSA recorded a 435 transactions. And it is as small towns, and about the regional center: the city of Gomel in the number of deals fell from 214 (September 2008) to 114 (September 2009).

Perhaps the most prosperous looks Mogilev region, where the number of deals fell from 244 last September to 179 at present, approximately 27%. Mogilev himself and does looks prosperous city, judging by the number of transactions: the drop was 13% - a trifle compared to other regional centers. However, if you count the total number of transactions for the first 9 months of this year, a drop in volume compared to the same period last year was 30% and 36% of the area - directly in Mogilev. If last year during this period in the regional center was carried out 907 transactions, in the present - only 580.

Residential buildings: the trend for a fall

Market collapsed in the segment of residential single-family homes. Fall in the number of transactions in September compared to August was 13%, and if we compare the current September from last year - or even 28,5%. A year ago, in Belarus in September 1447 was carried out transactions, in the present - only 1035.

In this market segment is also clearly seen the trend for a fall: June-2009 - 1372 deal, July - 1303, August - 1190 September - 1035. In this case, a similar trend emerging in all areas of the country. It is worth noting that in most regions of the sharp drop in the number of deals with single-family residential buildings happened in September.

In particular, in the Vitebsk region in August had been committed 237 transactions a month later - just 182 in Gomel - 202 and 167, respectively, in Grodno - 149 and 100, in the Mogilev oblast - 131 and 105. However, in Minsk and Brest regions collapse occurred a month earlier. Thus, at Brest in June had been committed 224 transactions in July - 219 in August - only 181 and in September - 179.

In addition to the constantly decreasing number of transactions, August noticeable "dip" in 17,5%. The same situation is in the Minsk oblast: 340 deals in June, 323 - in July, 286 - in August. Incidentally, the Minsk oblast - only one in which in September marked albeit minor, but still increase the number of transactions compared to August - 295.


In most regions of Belarus, also dropped the demand for land. In Brest, Minsk and Mogilev oblasts the number of transactions on sale of land this year and in September in particular dropped significantly. Thus, in the Brest region in September 2009 was carried out 48 deals with land, while a year ago - 86. As for the total number of transactions per year, for the 9 months of 2009, there were committed 382, ??while during the same period of 2008 - 648.

A similar picture of the Minsk oblast: 254 deal in September last year and 146 - in September of the current. In Mogilev region the number of transactions with land and does tend to zero: 11 deals in September, 135 - 9 months. However, last year's deals were not much higher: 155 for 9 months, 22 - for September.

Even less is demanded of land in the Vitebsk region. During the first 9 months of the year here has been acquired 92 plots of land - almost half the one in Minsk on September the area! However, this "demand" for land in this region have traditionally: in January-September 2008 there were registered 89 deals.

In the Grodno region the number of transactions on sale of land in this September compared with last year declined slightly: from 42 to 38. However, for the first 9 months of the year we can say that the demand for land in the Grodno region even increased: from 217 deals during January-September last year to 259 deals for the 9 months of this year. A similar situation in the Gomel region: 138 deals during January-September last year and 177 - for 9 months. present.

Market hinder the application of the growth in prices?

Thus, September was the most difficult month for the real estate market of Belarus. Realtors have repeatedly pointed out in his conversations with reporters portal, that they do not matter, rising real estate prices or falling.

"For us the important thing is that there was a movement in the market and went bargain", - said representatives of real estate agencies. Today, the number of transactions has been seriously curtailed, including those due to allegations of prices. Several representatives of real estate agencies - like Minsk and regional - have noted that because of the ill-conceived statements prices started rising, many sellers in the secondary real estate market is really trying to raise prices, resulting in their apartments, "hang" and not for sale.
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