Minsk Residents On Housing Prices: Russians Will Leave, And Prices Will Fall

When will real estate prices return to normal?

Minsk residents are discussing apartment prices in the capital on Threads.

“Should we expect a crash in real estate prices? ” asks _cold_lights18. - “Just two years ago, prices were reasonable; now something’s really f***ed up.”

Social media users attribute the high cost of apartments to an influx of buyers from Russia. The website Charter97.org cites some comments:

- Has this ever happened before in history? The only thing that causes housing prices to crash is war. Other than that, I don’t know of any cases where housing prices have fallen. Throughout world history, housing prices have only gone up.

- Two years ago, everyone was already complaining that prices were out of line and criticizing those who were buying back then.

- Two years ago, a 45-square-meter two-room apartment cost $75,000. Now, one like that would cost $120,000. The difference is huge.

- No, it won’t; prices are set by the people who come here—there’s demand, so prices go up.

- Yes, they’ll drop soon, when the Russians leave and the properties sit empty for six months to a year with no demand.

- I agree; it’s unbelievable right now. You used to be able to rent a two-room apartment in downtown Grodno for $80–100.

- The Russians will leave, and prices will drop.

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