Analysis

Property boom in Belarus: What is driving up housing prices and when will it stop?

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Residential complex "Kaskad" in Minsk, Belarus. Photo: LookByMedia

Over the past year, the price of a square meter of housing in Minsk has increased from 1,748 USD to 2,233 USD, a 27.8% rise. Furthermore, this price growth is not limited to the capital city. What factors are contributing to this trend, and when is it likely that the increase in apartment prices will come to a halt?