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Why is Minsk so badly sold apartments?

It's strange, but earlier real estate in Minsk almost always found a buyer for itself. And this is understandable: even in the most remote and deaf district of the capital it was possible to equip a delightful office. And due to the fact that the roads here are brought in a more or less proper form, then the problems in order to get to, almost does not arise (for those who do not have a personal car - an excellent transport interchange). There is everything and even more for an excellent life and a good sale of real estate. However, in recent years, there has been a very sharp decline in interest from buyers, as if people do not need homes and apartments.

The most observant probably noticed that some large real estate companies started unprecedented real estate actions with discounts on square meters. And, some ads say that you can throw up to 5, and even up to 10% of the cost! But alas, for some reason it is deaf, no one is in a hurry to buy apartments in Minsk . What is the reason?

Actually, it is understandable: a difficult economic time. However, earlier, in times of previous crises, there were always willing to invest in real estate. It's not just about money.

The developers who practiced shared construction were among the first to suffer . The problem is that most of the participants-buyers were involved in construction through loans. However, they were more often issued in Belarusian rubles. Because of the devaluation, people in panic and shock understood that they had lost huge sums, which, incidentally, still have to be paid under the draconian interest at 50% per annum or higher. And the seller, no matter how hard he tried (to admit, many did not even try) to keep the cost, still had to raise it, and not even "on", but "in" a certain number of times. Even the Belarusian construction mixes went up, those for which it seemed that there was no need to attract import components. Some of the co-investors found themselves in a difficult situation: there is nowhere to take money for surplus, but it will not be possible to get a new loan, and it's simply scary to take it with an ever-increasing refinancing rate. And on the other hand, to abandon the construction late - with the termination of the contract, many builders reserve the right not to return the invested funds if the breakdown of the relationship was due to the fault of the insolvent buyer.

What is the result with the Belarusian real estate? Shared construction began to be associated with something bad. Construction is stopped, no financing. Those who have the means, preferred to invest in the "secondary housing", and, perhaps, made the right decision.

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