Luxury living zones in these provincial urban centers: Prepare for the pricey revelation
In the second quarter of 2025, the housing market in Belarus' regional centers witnessed significant changes, with average housing prices per square meter experiencing an upward trend.
The city of Grodno emerged as the frontrunner, recording the largest increase of 14% in square meter costs, resulting in an average price of $840. This rise was mirrored in Brest and Mogilev, where costs increased by 3% and 5% respectively, to $1060 per square meter in Brest and $880 per square meter in Mogilev. In contrast, Vitebsk saw a more modest 4% rise, bringing the average cost to $790 per square meter.
The most expensive per square meter deal was made in Mogilev, where a property was sold for $1860 per square meter, marking the highest price point among the regional centers. In terms of the largest sum deal, Brest took the lead with the sale of a 120m2 apartment for $201,000.
Interestingly, the demand for housing in Grodno and Brest leans towards two-bedroom apartments, while in Vitebsk, Gomel, and Mogilev, the demand for one- and two-bedroom apartments is evenly distributed.
Despite the price increases, the total number of deals decreased by 16% to 2,700. Mogilev showed the lowest figures in turnover, with a total of $16.7 million, followed by Grodno with $32.8 million.
While the factors contributing to the housing price increases in Belarusian regional centers in Q2 2025 remain unclear, typical factors such as interest rate cuts, limited housing supply, economic factors, government policies, and inflationary pressures are often associated with similar trends in other markets. However, without specific data or analysis, these remain general assumptions rather than confirmed facts.
For detailed insights into Belarus’s housing market in Q2 2025, it is recommended to consult specialized Belarusian real estate market reports or local economic analyses released around or after Q2 2025.
- The surge in commercial activities in Grodno, Brest, and Mogilev, owing to increased investment in real-estate and finance sectors, seems to have a direct impact on the housing market, leading to price escalations in these cities.
- Housing demand in the Belarusian regional centers is evolving, with a preference for two-bedroom apartments in Grodno and Brest, while one- and two-bedroom apartments are in demand in Vitebsk, Gomel, and Mogilev, potentially indicating shifts in commercial property demands.
- As the housing market in Belarus' regional centers continues to show strong growth with rising prices, watch for further developments in the commercial real-estate sector, as interest rate cuts, shifting economic factors, government policies, and inflationary pressures could play significant roles in this ongoing trend.
