Overview cottage real estate outside Kiev





17.09.2010 00:00
Real Estate Market Analysis | Overview cottage real estate outside Kiev Although most of the cottage towns on the outskirts of the capital remains in a frozen state, with the advent of spring, some developers have stepped up construction work on their sites, hoping to attract these potential buyers.

However, experts believe that the thawing of banal buildings and reduce prices to revive sales is not enough. Customers have become so spoiled that they want to get not only high-quality household, but also well-developed infrastructure, availability of which most towns can not boast.

Nearly half of more than 130 cottage villages in the suburbs of Kiev, the construction of which was announced before the financial crisis, are still under development or approval of project documentation, because the developers lack the financial resources and the concept itself need to be redesigned.

For this reason, many projects together with the land for their implementation are now available for sale. This was stated by the expert Ukrainian Trade Guild President Oborsky.

According to him, the remaining about 70 cottage townships, construction and sale of objects of which were launched in 2008, active work can not boast of more than 12 towns, such as the "Olympic Park", "Mayetok", Green Hiils, "Zoloche "and some others.

Sluggish construction is still about 20 campuses, for example, "Ivankov," "European", Rivera Villas, "City of the Sun." "At the remaining sites work suspended, and often even curtailed the sale of objects", - says Mr. Oborsky.

The main reason for the suspension of any construction experts say the lack of developers' financial resources and a sharp drop in sales. For example, the developer of "Michael's Garden" says that a freeze on construction work and as a result, sales to fall to zero resulted in the closure of credit lines.

"In most cases, the company began implementation of projects at the peak of demand, but because of the acquisition or lease of land and preparation of project documentation invested only a small part of the funds, hoping to attract resources for the construction through the sale of future facilities to end users or resellers.

During the crisis, sales began to fall, and builders were in a vicious circle: their own money to continue construction they do not, buyers do not go, because it is under construction, but it is not because of lack of sales.

The only alternative left bank lending, which in most cases also have been minimized. And get a new loan to complete the project, finished only 30-50%, today is unreal, "- said the deputy director of development company Build & Live Development Elena slutty.

No less significant cause of the collapse of some projects has been and changing consumer preferences. For example, in the town "Zaspa Golf developer withdrew from the sale of objects from the forced changes in the concept of the village: instead of households ceased to be in demand area of 600-900 square meters. m the company intends to build houses on 200-400 square meters. m, and also significantly reduce the cost per square meter, was formerly the 3,1 thousand dollars.

No wonder that in 2009 in a suburb of the capital was put into operation only about a dozen cottage townships instead of 40 planned. The largest of them - "New Bogdanovka" and "Severynivka" - were actually completed in 2008, and last year developers have only to draw up documents and built some infrastructure.

"So actually been completed and commissioned a village" clear dawns "for 70 households in Kiev Svyatoshinsky area, as well as several smaller towns and 30 cottages -" Gulliver, "" Sunny Beach "," radiant, "" World of Light "" Nevada "," Dream "- said the director of the group of companies" Trajectory "Irina Golovneva.

Loss of interest of buyers to private homes has forced developers to revise the pricing. According to EA, "Trajectory", the average cost per square meter cottage in a civilized settlement on the outskirts of Kiev is now 1.34 thousand dollars, which is 27% lower than in December 2008 and by 35% - than in April 2008.

With all that decrease in prices of almost no impact on the number of transactions. "Since there is no cheap loans, through which previously acquired 50% of economy-class households, the cost of a cottage lost paramount.

Buyers who have money do not want to invest in long-term construction. They are either shifted to the secondary market, where the cottage is 500 square meters. m can be purchased for 350 thousand dollars, if any, are in no hurry to conclude the transaction, waiting for further price reductions and building infrastructure in the already constructed small towns, "- says Victor Oborsky.

Despite such meager sales, with the coming of spring, several companies have resumed work on their sites. According to Ms. Golovnev, construction of houses has been intensified in such a cottage village as Happy Land, Green Hills, Riviera Villas, "Bezradichi", Dream Land Spa.

Infrastructure being built in Green Wood club, "Severynivka. More actively set about equipping villages and market leaders - Mayetok "," Zoloche. Developers themselves explain this by the expectation of sales growth in the season to 50-60 houses per month.

Although these figures are far from desirable, activity on construction sites will allow them to compete for purses of potential buyers. However, experts believe that the impact will be only those companies who can offer facilities best suited to modern requirements of customers.

According to the company's "trajectory", is now most in demand ownership of an economy class in the price range of 150-200 thousand dollars an area of 200 square meters. m plot in the 10-15 hectare. And the demands of customers rather expanded: for the price they want to get housing-furnished cottage area with the social infrastructure and convenient transport interchange, near water or woods.

Some demand exists for business-class objects, but again with caveats. "In this segment, price preferences decreased from 500-600 thousand to 350-500 thousand dollars for an object with an allotment. But for the price customers want high-quality cottages area of 250-350 square meters. M, the spacious area of up to 20 acres, swimming pool , sauna and landscaping.

"Unfortunately, most developers can not offer such conditions. That's why buyers attracted chaotic building, offering a wide selection of the location of houses, planning, etc. Often these homes are sold for repair and even furniture," - said Irina Golovneva.

On expanding the list of customer requirements and says Victor Oborsky. According to him, before deciding to purchase real estate, the buyer looks at over 20 sites, not just the building of civilized towns, but also ready-made home in the chaotic building, as well as satellite towns.

"Today's buyer of home ownership in the cottage - it is usually a family man aged 35-45 years, owning one or two apartments in the capital and at least two cars per family. The kind of activity is mainly owners of small and medium businesses, and as top-of Management of large companies with revenue from 6-8 thousand dollars a month.

Such people have time and opportunities to learn the real state of affairs in the market and make decisions about buying, carefully weighing the pros and cons, "- said Mr. Oborsky.
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