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13 February 2020, 19:09

State Property Committee offers 451 real estate properties for sale for a song

Andrei Gayev. An archive photo
Andrei Gayev. An archive photo

MINSK, 13 February (BelTA) – As many as 451 state-owned real estate properties in Belarus are available for sale for only one base amount (Br27), BelTA learned from Chairman of the State Property Committee of Belarus Andrei Gayev on 13 February.

According to the source, 451 real estate properties are up for grabs taking into account those, which have not been sold in previous years and have yet to find a new owner.

As many as 555 properties worth about Br20 million were sold in 2019 alone. As many as 103 properties were sold for one base amount.

Andrei Gayev reminded that in 2019 the procedure for selling state-owned real estate was improved and the list of territories where a property can be sold for only one base amount was expanded. The starting price still cannot be set as low as one base amount only in Minsk and the other oblast capitals.

Private individuals can now participate in auctions to buy properties for one base amount along with entrepreneurs. Individuals were previously allowed to participate in auctions only if the property had not been sold to a legal person. Now citizens can buy these real estate properties, set up farm stays or reconstruct them into residential buildings if they want to.

According to the source, the share of ineffectively used or unused state properties in the country has been close to 2% for the last few years. The figure does not change significantly. While some properties get back into economic activity, some become unused.

It was necessary to reintroduce about 2,800 properties into economic activity in 2019. Nearly 65% of them were reintegrated into the economy.

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