Realtors: Renting an apartment in Minsk now cheaper 1.5 times

“The prices have dropped 1.5 times,” Euroradio is told by real estate agents that specialize in apartment rentals in Minsk.

The cheapest option - an one-bedroom flat in Pushkin Avenue - is sold for $200 per month.

“Everything is worn out. The furniture is old. There is no internet connection. It will be vacated during the weekend,”  realtors at Kvartal City Plus agency describe the property.

There are more options: $50-80 more expensive - yet again, with the old furniture and no internet connection. The modern housing costs more. Don't forget to include the agent's fees into the final bill.

The cheapest rental opportunity we have found without the help of real estate agents is an one-bedroom flat with the "grandmother's furniture" and no internet for $300 per month. It has a wardrobe, a furniture unit, a TV set, a sofa, a refrigerator, and an electric cooker.

An apartment with internet connection, modern household appliances and digital TV in Hrushauka  costs $600 per month.

“The property is one-bedroom, fully refurbished. Evrythintg is there: a fridge, a TV and a washing machine,” Euroradio is told by the landlords.

A VIP one-bedroom studio costs $900 per month. It has video intercom, new furtniture, a glazed balcony and a guard at reception. This is the most expensive option that Euroradio has found in the classified ads online.

Apartment rental prices have dropped significantly over the past year, says Natallia Radzenia, deputy director at the Tvaja Stalica real estate agency in Minsk. 

“We have recorded a downward dynamics since April. The average price for an one-bedroom apartment is $300 per month. It can be even for $250. A two-bedroom apartment is from $380. These prices are acceptable. Last year in September, the maximum was $450 per month for an one-bedroom flat. Demand was inflated by cheap loans. Landloards artificially raied the prices, because they saw the market demand and potential,”  explains Natallia Radzenia.

She expects the rental prices to grow by 20 percent, because university freshmen are coming.

“This is logical, because demand is growing. Towards the winter time, there will a drop in prices again,” says Natallia.

According to Natallia, the world ice hockey championships in May did not affect the long-term apartment rental prices. Flats were rented out for not more than $130 per night. Yet, there were also those who asked $800 per nigh.