Egorov: Belarus builds transparent and clear rules of the game in the construction market

The Belarusian state builds transparent, tough and clear rules of the game in the construction market, protecting both shareholders and national interests. This was stated by the first Deputy Chairman of the Board of the National Bank Alexander Egorov on the air of the TV channel “First Information”, writes sb.by.

Alexander Egorov noted that the construction industry makes a significant contribution to the country's GDP. According to him, each ruble invested in construction generates a huge added value at each stage.

- If we look at the official statistics on housing construction, we see not chaotic jerks and bubbles, but a clear, planned work of the state. We don't build virtual locks, we build square meters for life. State policy here is extremely pragmatic: stable annual housing commissioning, predictable growth of loans, strict control over long-term construction, as well as strong social support for those in need. First of all, large families and young professionals. As a result, we see a systematic increase in the provision of the population with square meters per person, stressed the First Deputy Chairman of the Board of the National Bank.

For a quarter of a century, the provision of square meters per person increased from 22 to 31, and in rural areas the figure has already reached 42, added Alexander Egorov:

- Yes, there are still point issues that need to be addressed by the state: provision of housing for orphans, large families, distribution of labor resources in small settlements through the construction of rental housing. But globally, we have made a huge leap.

Over 15 years, the housing affordability index in the country as a whole has increased by 34 percentage points - from 41 to 75%. We are talking about the ratio of the average salary to the cost per square meter. However, the market is heterogeneous. As of the end of 2025, the accessibility index in Minsk was 65%, which is significantly lower than the nationwide indicator. In the Minsk region, the index fell to 58% and is the lowest in the country.

- Why is this happening? Everyone wants to live in Minsk or at least in Minsk. The demand for housing is huge, the supply of new apartments is decreasing every year. As a result, prices are rising faster than the country as a whole. But in Grodno or Gomel regions, the index is about 100 percent. In these regions, housing is 1.5 times more affordable than in the capital, explained Alexander Egorov.

Commenting on loan rates, the First Deputy Chairman of the Board of the National Bank stressed that saving for housing in Minsk and Warsaw, Vilnius need approximately an equal number of years.

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