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Ukrainian Property Demanded by Investors – CBRE

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According to experts of CB Richard Ellis, foreign investors are becoming increasingly interested in Ukrainian real estate. Particulat interest is demonstrated towards Kiev and Odessa commercial property.

The company has seen a significant rise in the number of customers interested in development of shopping centers and hotels in Ukraine.

This means that Ukraine is slowly but steadily overcoming the economic downturn.

Odessa House Prices Fall by 0.5%

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According to the latest report publsihed by SV Development on Setember 1st, house prices in the city have fell by 0,49% or $7 compared to August 2010.

The average price of odessa apartments in ukraine reached $1486 with the highest prices being registered in Primorsky region ($1705) and the lowest – in Kotovsky Village ($1146).

Property Tax, Ukraine

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Commenting on the changes to the Tax Legislation, Prime Minister of Ukraine, Mr. Azarov said that the property tax will not affect 90% of the country’s population.

He highlighted thta only those who have apartments exceeding 100 square meters will be required to pay the tax.

If you want to own a large apartment in Odessa and yet not to pay the tax, consider contacting Paradis odessa ukraine apartments.

Odessa Property Prices Fall by 0.5%

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SV Development reported a fall in the values of apartments in Odessa, Ukraine.

It constituted 0.56% or $8 and resulted in the average price of  $1 493 per 1 square meter.

The highest monthly decline was seen in the Tairovo district, where prices decreased by 0.66%. The lowest decline was seen in Kotovsky village district (0.26%). No changes in property values were registered in the Moldavanka district.

House Prices Continue to Increase

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According to the latest release of SV Development, house prices in Ukraine rose last week (May 17-23).

The highest increase has been noticed in Kharkov, whereas Kiev real estate prices showed the fastest increase.

Prices on apartments in Odessa rose by 0.68% to $1462 per square meter.

An average price per 1 square meter in Kiev has reached $1762 (1.6% increase).

Construction Decreases in Ukraine

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According to official statistics, the volume of construction works in Ukraine fell by 24,9% in January-March 2010 compared to the same period of 2009.

In the opinion of real estate agents from “Planet Obolon,” the reason for that is lack of financing.

Even though the Ukrainian government has already allocated funds that should be enough to help resume property construction.

Developers of apartments in Odessa, Ukraine also hope for foreign invetsments.

Real Estate in Ukraine to Become More Affordable

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In May 2010 the Government of Ukraine will launch the program aimed at helping the country’s citizens purchase a home of their own.

The Government has already allocated more than 1 billion hryvnas that will be used to finance real estate construction.

In the framework of the program, Ukrainian citizens willing to buy an apartment of their own will have to pay 70% of the price; the remaining 30% will be paid by the Government*.

* Some restrictions apply. Apartments in Odessa, Ukraine priced over 5000 hrynvas per square meter will not be financed by the Government.

Ukrainian Property Market Falls by 90%

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According to Alexander Bondarenko, real estate expert, the Ukrainian residential property market has shrunk by 90% in January 2010 compared to the previous years. In the first month of the year, the number of agreed property deals in major cities (Kiev, Odessa and Kharkhov) amounted to 10% of those in the same month of 2007-2008.

House Prices in Ukraine Discussed at an Interactive Conference

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House prices in Ukraine were recently discussed at the “Real estate and property development in Ukraine-2009” conference.

According to the Ministry of Construction and Regional Development, an average price of 1 square meter in a typical block of apartments amounted to $600 and $525 in Kiev and Dnepropetrovsk respectively. Other organizations, however, claim that this price is far below the real value of Ukrainian real estate. As such, “Ukrainian Trade Guild” said that, according to property developers, the real value of 1 square meter reaches $1100-1400.

Meanwhile, Kiev estate agents report that an average price of 1 square meter in a new-build constitutes $1975.