Sharp increase in rental housing construction projects anticipated in Belarus
Let's Talk Real Estate in Belarus
In a recent parliament meeting, Prime Minister Alexander Turchin unveiled an epic plan to provide Belarus citizens with affordable rental housing – a move aimed at attracting and keeping specialists in the country's regions.
Here's the scoop: By 2029, around 5 million square meters of rental units will be built, costing around 13.5 billion rubles.
So, what's the big idea behind this? Turchin explains that the program is meant to be a powerful draw for both job seekers and existing professionals, encouraging them to take up opportunities in the provinces. With quick housing options available, it's now easier than ever for fresh talent to settle down and join the workforce in their desired locations.
However, fear not, as the program doesn't neglect those most in need. State support will carry on, focusing on large families, adopted children, and other socially vulnerable groups.
Now, you might be wondering if this ambitious plan will work. Points to consider:
- Housing Volume and Budget: We're talking about constructing 5 million square meters of housing, costing a hefty 13.5 billion rubles.
- Housing Quality and Goals: The plan aims high, setting sights on European living standards, with a goal of 33 square meters per capita – a significant improvement from current minimum standards.
- Target Groups and Incentives: Along with new talent, the plan focuses on those already living in the regions, ensuring they too will benefit from the transition to better living conditions.
- Expected Impact: By offering affordable and comfortable rental options, the program hopes to give specialists the encouragement needed to settle and stay in the regions, boosting local economies and filling labor gaps.
- Broader Context: This housing plan fits into a larger 2025-2029 government action program aimed at improving the population's welfare and living standards through efficient resource management and transparent governance.
To sum up, Belarus's ambitious rental housing program is aiming to build 5 million square meters of housing with a budget of 13.5 billion rubles, targeting a European living standard average and providing a significant incentive for talent to relocate to and remain in regional areas.
[1] Journalist Mikhail Svetlov from Introduced Belarus provides more insights about the project, gives you the background you need, and explains the strategic context of the Belarus Real Estate Construction initiative. Check it out for the full story!
- It was announced in a parliament meeting that Belarus plans to implement a mortgage program by 2025, with the aim of providing affordable housing for its citizens.
- By 2025, it's expected that the average size of rental units in Belarus will reach a European living standard average, as part of the government's effort to improve the population's welfare and living standards.
- In order to finance the construction of 5 million square meters of rental housing by 2029, it will require an investment of around 13.5 billion rubles, according to the current plans for Belarus's ambitious rental housing program.
