News Blog - Apartment in Minsk!

Sometimes the weather brings us very unexpected surprises. A very strong snowfall paralyzed life in Minsk and Belarus on the 15th of March 2013.  Today many major highways are blocked with traffic or blocked by the road police. Some people are spending in traffic over 12 hours! The airport Minsk MSQ is closed, subway stations are overcrowded. Many people had to walk home because of public transportation collapse.

Luckily the snowfall is over now, over several thousand people are cleaning the snow from the streets.

Since 2010 the hotel "Oktyabrskaya" (former name) was being at restoration and only some months ago, at the end of 2012, it opened its doors for guests. No one is able to say that this hotel has being situated there for more than 30 years because now it looks like a brand new one. Now it’s called President Hotel, has almost the most luxurious interior among other hotels in Minsk and rooms which cost begins at $300 per night.

The history of the Oktyabrskaya Hotel began in 1980 with Moscow Olympic Games, some parts of which were held in Minsk. Its location – on the crossing of Engels and Kirova streets - was chosen due to the nearby situated “Dinamo” stadium.

Coming to Belarus there’s no need to refuse from traveling by private vehicle. Car hire is a rather new but quickly developing service there; also it’s possible to hire a driver. But if you want to travel by your own car, there’s some information every foreign driver in Belarus has to know.

International driving license and original documents confirming the ownership of the vehicle give you a right to drive to Belarus. At the border crossing be ready to give information about the car into a customs declaration and to buy a vehicle insurance certificate. Also the international motor insurance certificate (Green card) is acceptable in Belarus.

Since the Belarusian tax system is developing at a fast pace, it is recommended to use data below for guidance only. In case someone intends to start a business in Belarus it’s necessary to contact a company that provides consulting services.

After choosing a sphere of business, registering a proprietorship and opening a bank account, every businessman faces with a taxation issue. There’re three taxation systems in Belarus: common tax system (CST) and simplified tax system (STS) with including VAT or not.

CST is going to be the most common form of taxation for individuals in 2013. It provides payments for all businesses which are Belarus tax residents of profit tax received from the sale of products, goods, services and plus other incomes at 18% rate. CST is advantageous to use when most revenues are to cover expenses.

After analyzing the proposals of the most expensive apartments in the world in 2012, experts have found that most costly property is located in Monaco, London, and Cap Ferrat (France).

First place in the rating belongs to Monaco, sovereign city state, situated on the French Riviera in Western Europe, where according to reports of London real-estate firms the price of real-estate is now an average of $58,400 per sq. meter. Thereby if you spend a million dollars on an apartment you’ll get only a 60 square meters closet without a water view.

Back in 2010 to rent a good furnished one-room apartment near the subway in Minsk (long term) cost about $300 USD a month plus utilities. By the end of 2011 because of the currency shortage and growth of exchange rate rental prices fell to $200-250. But in August of 2012 situation cardinally change, prices greatly increased. Realtors used to say that such situation takes place every year when nonresident students return to Minsk, so there was nothing to worry about.

But rental prices have not fallen, either in October or in November. One-bedroom apartments are now for at least $450 and those who have managed to grab are happy for such variant. Considering that the average salary in Minsk is about $650, far not everyone can afford to rent an apartment. Both tenants and realtors are at a loss, and no one knows exactly what could cause such a problem. Experts have some ideas on this problem, but probably answer consists of the whole complex of factors.

It was about two years ago when Belarusian economy faced with one of the most wasting crises in its history. No doubt devaluation of national currency influenced people’s wages. During these two years Belarusian’s salary has increased to about 500 USD per month, but in comparison with prices it’s enough for only one person’s average living.

Financial facility is an individual question, because someone can survive with 200$ per month but for others 1000$ isn’t enough. No doubt it depends on one’s needs, but higher are people’s wages – more they need and want. In Belarus if one have to live with 500$ a month it’s necessary to refuse from many pleasures such as expensive clothes, regular trips to other countries, visiting restaurants and so on.