Studio apartment for sale is mostly unique and unrepeatable in layout due to the lack of partitions inside the premises. The concept of studio apartment is not contained in the standards of Belarus, therefore, from a legislative point of view, it’s impossible to give an exact definition of this concept. This review by «Grand Realt» real estate experts will give you an idea to such a property specifics.
Reasons for studio apartments demand.
Studio apartments to buy footage can be different, but in economy class housing of a small footage prevails, which is ideal for one person. In Belarus, studios began to gain popularity since the 1990s, and now they are most in demand in large cities where the cost of housing is traditionally high. Studio apartment is the most affordable housing option. This purchase option is usually more profitable due to the minimization of the kitchen area. As a result, the price difference can reach 30%.
Studio apartment attractiveness lies also in the further arrangement of the interior. Due to the absence of ceilings, repairs, together with building materials, will cost significantly less than repairing an ordinary one-room apartment.
Advantages include possibility of zoning space with furniture, decor items. The final design decision completely depends on the owner’s imagination. The most preferable style is hi-tech or minimalism.
Who are studio apartments suitable for?
It is a mistake to believe that only young people who start their independent life are interested in studios. Elderly people sometimes choose a studio as more convenient in terms of maintaining the premises.
For investors, studios are of particular benefit, because when renting out, such housing doesn’t differ in value from a one-room apartment. There is a steady demand for the studio, especially among students.
Studio apartment is perfect for parties and corporate events, if it belongs to the business class. In the resort areas of Belarus, such housing is an excellent investment, since the demand for it traditionally grows during the holiday high season.
Legal nuances of studio apartment purchasing.
Studio apartments belong to residential real estate; therefore, the Civil Code of Belarus applies to the rules of their purchase and sale. The acquired studios, after signing the contract, are subject to mandatory state registration.
Studios apartments to buy can be leased, donated, bequeathed. Nevertheless, the studio acquisition has its own characteristics, in particular, it concerns redevelopments, which must be legalized.
Buying a studio apartment in a new building.
Transaction is made by signing an agreement on equity participation, or by assigning rights of claim. Risks for equity holders are minimized. But some developers are looking for workarounds and disguise the deal as an obligation to sell the property in the future. In this case, tax rates increase, which affects the cost of studios as well. Therefore, it is very important to get complete information about the studio apt for sale in «Grand Realt».
Possible serious risks when concluding deals without «Grand Realt».
- An investment project contains a chain of companies transferring rights to a real estate object and subsequently terminating agreements between themselves.
- To reduce costs, developers indicate a lower cost of the property, and the real cost is paid in the form of insurance premiums.
- If the companies violate their obligations to each other, the shareholder will not have a contract with the developer company, concluded directly.
- You will be able to make a claim legally, but you have the right only to demand compensation from the intermediary company.
- If the construction is “frozen”, the shareholder will receive the funds contributed for the equity participation, and the remaining part in the form of insurance compensation can be received only on condition that an insured event occurs. The list of grounds for insurance compensation may be limited.
Studio apartment purchase contract concluding.
When concluding a contract, «Grand Realt» draws your attention to:
- Penalty. The developer companies prescribe a clause in the contract that the liability for the delay in the transfer of the object to the shareholder arises in the event of the company’s fault. Belarusian companies are liable without fail.
- Object of the contract. The studio apartments characteristics must be clearly spelled out. Entrance, section, floor, area and others should be indicated.
- The right to a plot of land. Land for construction, can be owned or leased. It’s possible short-term lease ending by the construction final. This is fraught with the fact that the co-investor’s right may not be subject to registration.
- In the case where the right is indefinite, it must be reissued as a lease or as property. If an unauthorized person transfers the right to land to a developer company, then the court will declare such a transaction unauthorized. An erected structure on such a site is considered a building, and not an apartment building. Unauthorized construction requires legalization through the courts.
Developer ownership registration.
Additionally, the developer of studio apt for sale can offer such a service as the registration right to an object in Belarus. Here you should be vigilant, as there may be delays in the documents’ delivery. Special care should be taken when participating in investment projects where the design and technical documentation for the facility has not yet been approved. So, instead of the promised studio apartment of 100 sq.m. the co-investor can get 80 sq.m., and this will be justified by the change in the construction project. Consult about each of the projects you are interested in building a studio apartment at «Grand Realt».
Increased demand for studio apartments.
The supply in the segment of cheap studio apartments for sale is steadily growing, as is the volume of their construction, because there is demand in Minsk and Belarus. Studio apartment to buy is ideal for a young family. Studios are in demand among students, creative people, these with an original taste and look at the interiors of the environment, as well as among investors who are tempted by attractive prices.
How can you buy studio apartments in Belarus?
Studio apartments for sale at «Grand Realt» is one of the most important cooperation sections that offer studio apartments to buy great abilities in Minsk and all over the Republic of Belarus. Get more details per email: firstname.lastname@example.org or make a call: +375447978585