There's an unusual alternative to studios and "Brezhnev-era" apartments on the market. What are business apartments, and what are their pros and cons?

Business Apartments

This type of housing is relatively new to Belarus, and therefore not well-known. It appeared at the legislative level only at the end of 2020.

In simple terms, these are the same multi-story buildings where premises are called neither apartments nor offices, but specifically "business apartments." The uniqueness of such premises is that they are officially suitable for both living and registration, just like a regular apartment, and for registering a legal entity there and, accordingly, conducting business.

This results in a legally flexible format, as it's impossible to register a residence in office and administrative premises, and to conduct commercial activities in residential ones.

Currently, "business apartments" have the cheapest square meter from developers. In 2023, prices started from 1050 euros per meter.

What about prices?

The cheapest offer now is a 25-meter apartment in a building at Igor Luchenok Street, 4, priced at 41,900 euros, which is 1676 euros per meter. The building will only be completed in 2027.

In the building at Savitsky Street, 24, which has already been put into operation, owners are reselling several business apartments with a total area of 21.4 meters.

Павялічыць

The cheapest ones are priced at 43,000 euros, or 2000 euros per meter. Others value similar premises higher, asking 45,500–46,500 euros (2126–2172 euros per meter).

For apartments with an area of 24.7 meters in an already completed building, prices range from 49,200 to 51,600 euros, or 1990–2090 euros per square meter.

Павялічыць

Few vacant business apartments are sold on the developer's website, but the prices look attractive.

For example, apartments with a total area of 76 meters are sold for 1185 euros per meter, and with quick payment, a discount is offered, bringing it down to 1031 euros. However, there's a nuance: almost 10 of the 76 meters are a loggia.

Павялічыць

The cheapest meter is in 87-meter apartments. But 25 of those meters are a loggia. However, the meter is only 1000 euros or even 870 euros if paid quickly.

Cheap, but with nuances…

A low price, as is often the case, implies certain drawbacks, and naturally, such apartments also have them.

Firstly, the owner of such premises needs to know that utility payments will be charged at the same rates that apply to individual entrepreneurs and legal entities.

Павялічыць

Secondly, making a redevelopment (and even large business apartments are delivered without walls) will be more difficult and expensive than in a residential premise. And if this is not an obstacle for small studios, owners of more spacious apartments will have to spend about 10,000 rubles on formalizing the modernization of the premises.

In addition, you need to be prepared that a business may be located next to your apartment, which could generate additional noise or simply mean many more people passing through the entrance than in a regular residential building.

Another disadvantage of such a business apartment is that its sale is not covered by the tax exemption that applies to residential premises.

Павялічыць

And while, for example, an apartment on the first floor can be converted into a non-residential fund, changing the legal status of business apartments is impossible.

Will there be any advantages?

In addition to the low price per square meter, the advantages include the possibility of registering a legal entity at the same address and using the apartments for commercial activities. In theory, the owner of such real estate can be registered, live, register a business, and work within the same apartments.

What are the alternatives?

Small studio apartments in "Minsk World," unlike business apartments, are not a new phenomenon. And now, if a person sells an apartment rather than an apartment unit, this residential status is highlighted as an advantage.

Павялічыць

Accordingly, prices are higher. The cheapest studio apartment in "Minsk World," at 23.6 square meters, is sold for 59,200 euros, which is about 2500 euros per meter.

A "Brezhnevka" (Brezhnev-era apartment) on Kabushkina Street, 76, is sold for just a thousand euros more. This is 59,500 euros, or about 2800 euros per square meter.

Павялічыць

For 21-meter "Brezhnev-era" apartments with old renovations, prices range from 53-56 thousand euros (about 2500-2650 euros per meter).

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