At the end of 2021, the total investment in office and retail real estate in Minsk amounted to $55 million, which is 45% less than last year. The main reasons for the decline in activity in the investment market are the rather difficult business conditions, as well as the continued impact of covid and related restrictions.
Investments in office real estate are decreasing
The total volume of investments in office real estate amounted to about $25 million. It is noteworthy that in 2020 there were 2 times more investments in administrative real estate, although the prevailing number of transactions took place in the first half of 2020.
The retail real estate market continues to recover
The total volume of transactions in the retail real estate market amounted to $30 million, which is not significantly different from 2020. Despite the lack of such growth compared to 2020, the interest of investors in retail real estate remains, which cannot be said about offices.
Given the epidemiological uncertainty and the current political situation, the participation of foreign capital in the total investment is quite low.
Total volume and number of transactions
At the end of 2021, the total volume of transactions amounted to about 65 thousand square meters. m. The decrease in the volume of transactions for administrative and retail premises, in comparison with 2020, amounted to 23%.
