October was one of the worst months in the Belarusian real estate market.
"In Minsk we expect something similar to 1,100-1,150 transactions, maybe even less. For comparison: in October 2025 there were over 1,500 transactions. Just feel the difference," real estate market expert Nikolai Tokin told the wikidom.by YouTube channel. The indicators are also devastating in Brest, where 155 deals were closed in October; The situation is much better in Vitebsk and Gomel, where 210 transactions were closed in October.
According to the expert, the relatively stable situation in the real estate industry has so far been supported by the banks' policy of offering affordable mortgage loans, but it is difficult to fully predict how such a practice might develop.
"The secondary, one feels, is already falling on its knees," says Nikolai Tokin. "If we sit on this banking needle like this, I wonder what all this could lead to." Because, again, for the tenth time I say: the Russians are hooked on this banking needle, now there is simply a disaster in the real estate market."
According to an analyst from banks, in October they did not fulfill their plans for loans issued for the purchase of housing.
"It seems that people have started to slow down their decision to purchase real estate. Or simply the banks have already selected from the population all those who can qualify for the purchase of real estate and the desired mortgage," Smartpress quotes the expert.
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