Real estate property cost depends on the street`s location.
The location of luxury property is moving from downtown to quiet places of elite buildings not far from ponds. A very good example is Pionerskaya str., Drozdy quarter, it has been the most expensive one in the city for 1,5 year.
«The cost of one square meter is increasing up to $4500. The prices in Drozdy quarter aren`t changing, in spite of the total apartments` demand decrease in Minsk. The limited supply gives the opportunity to leave the prices unchanged. Today it is quite difficult to sell an apartment on Pionerskaya str., but the owner will better wait, rather than give a discount to a buyer. Moreover, the real estate property interest in this quarter will grow – for example, it is planned to open a large SPA-salon next year», said Svetlana Kudelko, « Tvoya stolitsa» Group of Companies, Sales Deputy Director on the secondary housing market.
Commercial real estate (a business center Riviera Plaza and a shopping mall Arena-city) is also rising the status of Pionerskaya str. The reservoir Drozdy vicinity is playing an important role when forming a price.
Zhasminovaya and Parnikovaya streets are also in the top expensive triple, its square meter cost is varied from $3500 to $4500. Parnikovaya and Van`kovicha streets have a little bit less price for a square meter. The four streets are situated in a residential quarter behind The National Library.
Storozevskaya street is on the sixth place in the rating, due to the house « U Troutskogo». Then Karla Marksa street is coming.
Six years ago Pobediteley Prospect was on the twenty-first place, now the Prospect has position number eight. The value of this prospect has risen. Experts explain that apartments are bought here for rent. Yanka Kupala and Internatsionalnaya streets close top-ten most expansive streets in Minsk.
Experts mark several places, where the most expensive real estate property is situated. Firstly, it is a historical downtown and elite quarters near picturesque ponds, for example, Drozdy or Slepyanka water system. Besides, the so called «pizhikovskiy» quarter ( Zaharova and Pulihova streets) is popular. We could also observe some streets ( including Uruch`e – Gorodetskaya str., Lozhinskaya str.,) in dormitory quarters.
«The real estate cost on the prestigious streets in Minsk is twice as high( up to $3000 and higher for a square meter) as the average cost on the market. Usually business owners and top-managers buy such real estate property. Sometimes there are foreigners, especially Russian, who buy apartments. Investors are also engaged, they expect to get additional profit when they sell the bought apartment in 1-2 years», said the expert.
At once the number of expensive flats deals has been considerably fallen this year. Sellers are not ready to reduce prices, and buyers don`t want to invest money on presentable streets.
«The supply is much bigger than the demand on the market. Buyers have a great choice, but their financial possibilities are not on the appropriate level. When population solvency is being reduced, the most popular real estate property is an inexpensive apartment, while the supply on pricy housing is basically laid-off. But individual transactions are certainly made», noted Svetlana Kudenko.
The last top-30 are Kirova, Masherova, Zaslavskaya, Pervomaiskaya streets and Storovilenskiy truct.
The rating of the most expensive streets is composed on the expert evaluation and real estate property supply monitoring data basis on the secondary housing market. The ranking criterion is the current average cost for a square meter on a definite street.
7. K. Marksa
8. Pobediteley Prospect
9. Y. Kupali
19. Nezavisimosti Prospect
27. Masherova Prospect
29. Starovilenskiy truct
Text and photo from onliner.by
Author Nikolay Gradushko