Infographics: Construction sector in Belarus 2017

More information on this topic is presented in the PMR report:

  • The sharp fall in residential construction last year largely reflects the 6% contraction in real disposable income in 2015, followed by a more than 7% reduction in 2016.
  • The total floor area of new homes activated throughout the country in 2016 dropped 15% year-on-year.
  • The average rural saturation level exceeds 36 m², and during periods of weak economic growth rural population tend, therefore, to reduce their residential expansion plans significantly, as there is no urgent need for additional housing.
  • The rural housing space stock was in the 75-77 million m² range between 2011 and 2016, even though 7.65 million m² of new rural housing was commissioned over the period.

  • The national currency lost almost 53% against the National Bank’s euro-dollar-RUB basket in 2011 and 58% in 2012, instigating the sharp rise in the construction price index between 2011 and 2013.
  • Collapse in construction activity and a more stable national currency have decisively contributed to a rapid deceleration in construction price indices over the last few years.
  • In 2016 the nominal salary grew across the country by 7.5% on average, whereas in the construction industry it rose only by 1.4%.

More information on this topic is presented in the PMR report:
Construction sector Belarus 2017. Market analysis and development forecasts for 2017-2022