Minsk apartment market has seen a decline in transaction activity over the past two years, while prices per square meter have steadily increased. The National Cadastral Agency analyzed the structure of demand, the share of non-residents, and their preferences.
The share of Belarusians is stable — 94–96%
In 2022–2024, the share of transactions with non-residents was approximately 5%. Data from the first quarter of 2026 confirms this: 94.4% of apartments were purchased with the participation of Belarusian citizens (95.7% in the first quarter of 2024, 95.3% in the first quarter of 2025). This represents a decrease of less than 1%.
An important nuance: changes in legislation
Since 2025, the mandatory inclusion of the full names of both spouses when registering joint property has been introduced, increasing the transparency of transactions. This has resulted in a sharp increase in the share of joint property. While such transactions accounted for less than 3% of the total quarterly transactions in 2024, this figure has risen to 30% in 2025, and to 50% in the first quarter of 2026.
Thus, in 1 quarter of 2026, every second apartment was purchased by spouses during marriage.
Which non-residents buy in Minsk?
The vast majority are citizens of the Russian Federation (60%). Next come Lithuania, Latvia, China, Ukraine, Türkiye, Kazakhstan, and Israel.
On average, for 2024–2026, the number of apartments purchased with the participation of Russian citizens is stable — 140–145 per quarter.
Preferences: modern housing in new microdistricts
Foreign buyers have quite specific tastes and differ significantly from the average Minsk resident, who might look for a property in the good old-fashioned city center or the lived-in bedroom suburb. Non-residents vote with their rubles for modernity and scale. Almost half of all transactions involving foreigners (40%) are concentrated in a few key locations with new developments.
Priority is given to microdistricts with a “city within a city” concept and prestigious locations with good views. Foreigners most often choose: Minsk-Mir, Sukharevo, Lebyazhy, Libknekhta, and Mayak Minska.
The choice of these locations is easy to explain. Foreign buyers value clear infrastructure, access to modern utilities, and the ability to quickly rent out or resell their property in the future.
Geography: 65 countries
Between 2024 and 2026, apartments in Minsk were purchased by representatives of 65 countries, including exotic ones such as El Salvador, Cape Verde, and Grenada.
Conclusion
Foreign buyers do not have a decisive influence on the overall price level in Minsk: their share is stable (4–6%), and the vast majority of transactions are made by Belarusian citizens.