The Conditions For Investments And Opportunities In Belarus

The paper analyses the opportunities and problems of investment in rapidly growing markets like Belarus. It was analyzed economy and investment legal background in Belarus, investment attractiveness of the real estate market, opportunities for foreign investment. In the past years the real estate market in Belarus has been booming. It is especially true for the capital and to a lesser extent ñ for Belarusian province. However, in relation to the province the term ìlesserî is not quite appropriate. Thus, while in Minsk price of the real estate during the past four years has grown almost three times higher, in the other developing Belarusian cities it has grown twice higher. The current rate of the prices is obviously not the limit. It is proved by the growing demand for the real estate objects, resulting in the rapid and continuous increase of the prices. This is happening despite of the annual increase of building volumes and constant stimulation of the construction programs (especially in rural areas) by the government. The paper identifies problems affecting the registration of the rights to real estate, property development and formation of the legal environment. It is also aimed at identifying the obstacles in property purchasing, particularly in its organizational framework that hinder development of the real property market. The paper also assesses transaction cost of this particular purchase for the parties involved (i.e. seller and buyer or investor) and compares it with the similar data for several European countries.