Despite the fact that over the past few decades, residential construction has had considerable scale, housing floor area per capita remains quite low compared to European countries, especially in Minsk where more than 60 per cent of the current multi-unit housing floor area was commissioned from 1946 to 1985.
Construction industry in Belarus is an open industry. It is quite competitive since it is available to any interested party. The housing sector has a well-developed legal framework and does not provide any exceptional advantages to market participants. Nevertheless, state-owned companies are the biggest competitors for private developers as they are taking the lead in implementing government-directed housing construction solutions.
The Report represents the current condition of residential development in Minsk with basic characteristics of the largest developers and projects as per April, 2022