The real estate market in Ukraine is out of healthy logic. The price trens show mixed dynamics. Some analysts ascertain a rise in prices and sales volumes, while others claim they are still falling .
Following the results of April the inhabited real estate in Kiev has risen in price for 1,6 %. Such data is confirmed by the Analytics Committee of the Union of Real Estate Experts of Ukraine. However, experts of the Union have made a reservation at once that the insignificant rise in prices has technical character and is connected with sale in April of dozens of objects the prices on which were the least. As a result of sales of the specified objects, the indicator has moved aside more expensive offer which “hangs” for a long time in the real estate market, without feeling sufficient interest from outside buyers. “The next month will show if the reached price level is low enough for awakening of activity of buyers, or we will detect signs of additional correction”, - analysts say.
It is one point of view. Another is expressed by the SV Development company. According to them, from April, 1st through May, 1st, 2009 the average price of sale of 1-3 room apartments in the secondary market of the real estate in Kiev has decreased by 9,17 %. Thus, the cheapest was a Darnitsky area, and the most expensive - Pechersky. Thus, growth of1,6 % and decrease of 10 % - is a big difference.
Analysts SV Development notice that the resulted figures reflect a situation in the market of secondary real estate, while the primary market of the real estate is practically in “the frozen” condition, and transactions here practically are not noticed. At the same time, about one month ago, experts have noted increase of consumer activity when Ukrainians and visitors of the Ukrainian capital have started to buy up one-room apartments in houses of “Khruschev’s” construction.
However as a whole, experts assure, that the Ukrainian real estate is still in a condition of recession. According to experts, situation improvements should be expected not earlier the beginning 2010.
Isthistrue? After the collapse on the real estate market of the end of the 2008 – beginning 2009, it looks like the number of transactions is again on the raise
This was reported by the President of Real Estate Specialists of Ukraine, Andrey Shulga. According to him the number of real estate transactions has started to grow, which is a clear sign that the Ukrainian real estate market has finally hit the bottom. This was especially virtually for the secondary market of residential property related as economy class dwelling.
The expert has noted that while from December 2008 through February 2009, the market was really flooded with a huge offer of cheap apartments, now the number of such affordable objects has decreased. It is also apparent that prices for many flats available for sale finally started to grow. Indeed after a sharp 50%-100% drop, growth by a couple per cent is not so obvious, however this is a sign that marks the new trend: sharp decline, stabilization and slow growth.
And this growth concerns all segments of real estate. Isn’t it a good time to think about investing at bottom of the price drop?
This trend may also concern residential and commercial property for rent in Kiev. In some cases, the rent prices have dropped since August 2008 more than 150%-200%. Some office space at A class business centers such as Leonardo and others in the downtown of Kiev, were available for $30-$40 per square meter in March 2009, while just 9 months ago, the price of such a property was over $100. Now, the process of rent price decline has also seemingly stopped. Will they start to grow again? Absolutely! The question is only when: soon or even sooner…
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It looks like after a year slow and go motion, real estate prices again started to grow in Kyiv, Ukraine. For the last two month the growth rate of the flats of the priamry market made 6.5% and 8% on the secondary market. Just for three days in March, the prices grew on the priamry market over 1/3 of the percent.
