Real Estate

Auction Madness: 173 People Fought for a Minsk Utility Room

Utility rooms on Rusiyanova Street were put up for auction at very low prices — 7600-7700 rubles.

The first one has been sold, and a real battle unfolded for it. The 16 square meter lot was contended by 173 participants, writes Onliner.by.

As a result, the starting price of 7600 rubles increased 15.2 times and reached 115,140 rubles (almost 40 thousand dollars).

Despite the utility room being comparable in size to a regular living room and also having its own bathroom, it will not be possible to legally convert it into an official studio apartment. The status of a non-residential premise will permanently remain for these square meters.

According to the seller's terms, the new owner is obliged to start using the object for any permitted non-residential purpose no later than one year after state registration of the right of ownership.

Those who missed out on acquiring the first 16 "squares" can try their luck in bidding for other utility rooms. Auctions for the sale of two more similar premises with basic renovation and bathrooms (areas of 16 and 16.2 sq. m) will soon take place — the bids are scheduled for July 28 and 30.

Given the great excitement around the first deal, there is every reason to believe that the modest starting prices for the remaining lots may also rise to six-figure sums.

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