On the status and prospects of the real estate market in Lviv in 2010-2011.





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18.12.2010 04:19
Real Estate Market Analysis | On the status and prospects of the real estate market in Lviv in 2010-2011. Lions, as the largest cultural, historical and business center of Western Ukraine in the post-crisis period will continue to retain its status as a region with high investment attractiveness. Such a competitive advantage as proximity to the EU is increasing investment demand from the European business community. Especially this factor should show themselves in the period 2013-2015., After the EURO 2012.

On the status and prospects of the real estate market in Lviv in 2010-2011.

Investitsonnaya attractiveness of real estate in Lviv: the saturation of housing, commercial real estate and social infrastructure

Based on the calculation of rate of foreign investment per capita, Lviv region is 6 among Ukrainian regions by the level of attractiveness.

According to our calculations, in Lviv, there is significant growth potential of retail real estate. At 1 thousand people. the population of Lviv today accounts for about 200 sq. m. professional trade areas (according to new «King Cross Leopolis» and "Leopolis Centre") in Kiev, the figure is 350 sqm, while in neighboring capitals of Europe (Warsaw, Prague, Budapest), more than 650 sq.m.

In the office segment, despite the current low demand, is also a shortage of quality office space. Among the most significant operating facilities should be provided in Lviv: Dominant Plaza - Class "B +" (4,430 square meters), «Optima-Plaza», Class "B +" (4620 sqm) TOC "Intercity" class " B + (2300 square meters.), «Lemberg» «B +" (7500 sqm), Bіznes Center Ukrayinsky CAPITAL "B +" (7800 sqm), POC on the street. UPA heroes (Turgenev), 72 "B +" (3125 meters), Alliance Business Hall «B" (12,655 sq.m.), BC rac Shuvar "B" (16500 sq.m.), 2 cases of business Centre Technopark LZTA "(10000 and 3000 meters).

With regard to housing, Lviv is also observed low saturation housing. At the beginning of 2010 to 1 citizen, the Lion had 18,5 sq.m. total area, whereas in Ukraine as a whole - 23 sq.m. In this case, there is a tendency in Lviv aging housing stock, more than half the houses are in poor condition.

Due to the need to meet the requirements on the number of hotel rooms for the EURO 2012, and given the initiatives of the State Tax promote hospitality, hotel construction segment will grow the fastest. Today we can judge the major projects for the introduction of new and reconstruction of existing hotels. Recently opened in Lviv «Citadel Inn» ***** - 26 rooms, Reikartz Dvorzhets Lviv **** - 52 rooms. Reconstruction and upgrading of (stars) were the Hotel Leopolis, "Helicon," Dnestr "," Opera "," Kiev "," Grand Hotel ". At this point, it is also known that the global network Reikartz Hotels & Resorts is implementing phase 2 of the hotel project «Reikartz Center Lions »***** (100 rooms). Also under construction is a hotel complex Maxim **** (50 rooms).

In the nearest time possible to yield and other international hotel operators in Lviv market, have already expressed interest: Accor Group (Novotel, Etap and Ibis), Kempinski (Kempinski Lions), Radisson Sas (Park Inn), Hilton, Orbis, Shaeraton, Clubhouse Group Holdings (7 days) (some started to develop project documentation).

On the current activity of the construction sector in Lviv and iconic real estate objects

As for the whole Ukraine and in Lviv in 2010, says the negative dynamics in the construction industry. Investments in construction are at the level of 2009, and many construction projects are still in a frozen state.

According to State Statistics Committee of Ukraine, the volume of construction work in the Lviv region in January-August 2010 amounted to only 69.3% by volume of the corresponding period last year. And given the fact that in 2009 the volume of construction work has fallen compared to 2008, almost 2 times, today we can say about the ongoing deep stagnation of the construction sector.

In spite of this, based on 1 half of 2010 Lviv remains one of the leaders (after Kiev and Kiev region) on the volume of commissioned housing. During this period could be commissioned 281.6 thousand square meters or 8,7% of the total amount collected from housing in Ukraine. Among the 1028 construction in progress only at 462 sites (or 45%) was the construction on 524 sites (51%), construction was halted, 42 of the object (4%) were in a conservation regime.

Among the most significant commercial real estate projects in Lviv, which were implemented in recent years and significantly raised the level of professional commercial real estate in Lviv can be identified:
- SEC «King Cross Leopolis» on the street. Striysky 30, total area 105 thousand square meters, the developer who made Polish company King Cross Development Sp.oo, already implemented 10 projects in Poland, Croatia, Italy and Russia.
- SEC "Leopolis Centre", on the street. Naukova-Kulparkivskaya a total area of 96 thousand square meters. m., the developer who made the largest operator of wholesale and retail trade in Western Ukraine - LLC "Trade Company" Intermarket ".
- Building a hypermarket Praktiker, the total area of 8,140 square meters. m

PERSPECTIVES ON Development in Lviv as an object of Development: the planned path, the intentions of investors announced plans to build

In Lviv, there is still a definite shortage of promising land for new construction. Despite the fact that in 2010 held an auction to sell 14 plots of land for housing, industrial and commercial facilities with total area of 28.3 hectares valued at over 1 billion UAH.. for 3 quarters in 2010 the budget received only 13.4 million UAH. that is only 10% of the annual plan. In this case, the majority of sites have already stated repeatedly offered for sale.

In the near future considerable interest can be demonstrated in the scope redevopmenta, in particular to industrial facilities with the ability to change the target destination of industrial zones and development in these areas, shopping, entertainment and business centers. One of these objects can land the size of 7.55 hectares on the street. B. Khmelnitsky, which previously functioned Lviv experienced Neftemaslozavod. According to data of the Kiev real estate development company, the concept of the plot involves the construction trade ofsnogo complex with total area of 87,596 sq.m.
Oleynikov Alex (Ph.D., director of strategic development of the investment group INEC "
https://www.inventure.com.ua


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