In Minsk, not a single district is left where the average cost per square meter of housing would be less than $2000
Where are the most expensive apartments?
In Minsk, there is no longer a single district where the average cost per square meter of housing would be less than $2000, as noted by the National Cadastral Agency (NCA).
The NCA reported on the most interesting market trends, writes Office Life. One of them is a decrease in supply on the secondary market from 6.8 to 4.5 thousand apartments since the beginning of the year. Therefore, in houses built in 1980 and older, the number of transactions fell by 10-23% depending on the year of construction.
The most expensive housing is currently in the Central District. In the III quarter, a square meter there cost an average of $2740. The top 3 include Oktyabrsky and Sovetsky districts — $2570 and $2440 respectively.
The cheapest "square meter" cost in Zavodskoy District — $2020, Leninsky — $2070, and Frunzensky — $2170. At the same time, most apartments were sold in the Oktyabrsky District, where the Residential Complex "Minsk World" is located, from July to September — 732 transactions.
Interestingly, compared to the II quarter, the largest increase in the average housing price was recorded in Oktyabrsky and Moskovsky districts — by 7% each, as well as in Central, Sovetsky, and Partizansky — by 6% each. Apartments in the Leninsky District increased in price the least — by 3%.
Small apartments up to 40 square meters remain the most sought-after housing. Their share in quarterly sales grew to 34%. And, accordingly, "one-room apartments" are the most expensive — averaging $2520 per square meter.
Another important fact: more expensive apartments are growing in price faster than cheaper ones. And, by the way, over the past three months, 23 apartments more expensive than 1 million rubles were purchased in Minsk.
At the same time, the NCA noted that in October, experts began to record the first signs of market cooling.
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