Real estate market overview of the Crimea, September 2014

15.10.2014 00:15
Real Estate Market Analysis | Real estate market overview of the Crimea, September 2014 In September 2014 the activity of the real estate market of the Crimea has risen sharply. Prices have gone up by 10%, the market fell slightly. Prices
According to the Trading System REM Navigator property prices in the Crimea in September 2014 increased by 10% (in USD). In the secondary market Simferopol average house prices at the end of the month were as follows:

1-room apartment - 1272 USD / sq.m.

Related article: For the month the price of apartments in Kiev has grown up to $1 886 per sq.m.

2-bedroom apartments - 1162 USD / sq.m.
3-bedroom apartments - 984 USD / sq.m.
house - 1350 USD / sq.m.

In September 2014 the real estate market of the Crimea there was a sudden sharp rise in prices. The increase in prices was a spontaneous rush character and by the end of the month the index has reached 10%. Particularly significant growth in prices was in a segment of 2-room apartments.

Recall that from January to April 2014 prices on the Crimean real estate market gradually decreased (-6%), and only in May and August there was a price equalization (+ 6.5%). Back in August 2014, the market was balanced in a state of precarious equilibrium with virtually no demand in some segments.


Offer
Volume of the market of real estate of Crimea fell to the level of 4643 points (-1%). Improve the proposal did not contribute even a significant increase in prices.


Demand

The sharp increase in demand is observed in all segments of the real estate market of the Crimea.


Forecast

Adjusted forecast the real estate market of the Crimea TC REM Navigator for 2014 assumes the following:

dynamics of prices by month:
October 10%
November 5%
Dec. 2%
price increases in the range of 30% for the year;
increase in the number of transactions.

The forecast is based on current macroeconomic indicators of the Russian Federation and the state of the global economic system on the date of the forecast. Forecast TC REM Navigator represent the opinion of anticipated trends in the property market. Forecast should not be construed as a guarantee of immediate results or a recommendation for action. The forecast is not factual information and therefore can not be characterized as "accurate" or "inaccurate."


Recommendations for buyers and sellers

Sellers in connection with the beginning of the fall season should begin to actively selling real estate. Particular attention should be given to the development of competitive prices.

Buyers should be aware that property prices are rising rapidly. Delay in the conclusion of the transaction may result in significant financial losses.
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