To buy real estate in Belarus a foreigner is required to be living in the country for seven years or more and get permanent income. The Russians are an exception; they have a priority and the rights for buying a flat similar to the ones of Belarusians. The land in Belarus belongs to government, so one can’t buy it.
Prices for the real estate in Belarus on the primary market range from 1300 EUR to 1500 EUR per sq m. If you want to buy a one-room flat, it would cost you 35-45 thousand EUR depending on the region. Generally, investors are interested in real estate in Minsk, the capital of Belarus. The infrastructure is getting better every year.
To get the Belarusian citizenship a foreigner is required to have money to live there, cancel the citizenship of the other country and for the period of five years not to leave the country for more than 3 months a year. The application for the buying real estate in Belarus is looked into for about a year.
The real estate tax for foreigners is similar to the one for the Belarusians. The tax concerns houses, villas, flats at farmlands, flats in multi-storey houses are an exception.
Don’t think that you’ll earn a lot of money from leasing flats out, it would be a bad business, but you can earn money in case you buy selling space. To be sure your decision is right, you’d better go to a real estate agency that will help you to choose the flat that suits you.
The buying of the real estate in Belarus is accompanied by signing a sale contract, in which the locus and its square should be mentioned. If you want, you can notarize the contract. Every deal should be governmentally registered.
