Stagnation in the Odessa real estate market continues

16.03.2011 11:12
Real Estate Market Analysis | Stagnation in the Odessa real estate market continues Realtors are convinced: the demand for apartments remains high, just that people do not have enough money.

Blessed for real estate agencies a time when every day to procure several contracts of sale, are long gone. Today, demand for apartments has once again fallen, despite the fact that prices have hit bottom.

Related article: Prices in the secondary real estate in Kiev froze

Market is more dead than alive

The onset of spring and as a consequence, a new selling season, has not yet met the expectations of the Odessa real estate operators. Buyer has not appeared again. Moreover - even in comparison with the latter two are very depressive crisis years, the demand for apartments continues to decline.

- You could say that for three months in 2011 the demand for housing purchases dropped by 20% - said an expert on real estate, Academy of Sciences "Prime Real Estate" Tatiana Terletskaya. - About any speculation in housing, however. Odessans buy apartments for themselves. And only under one condition - when they can sell their own homes and instead buy more. Cash on hand is becoming less and spending - more.

Similar opinion is shared by the vice-president of the Association of Realtors of Odessa and Odessa region Dmitry Grabin:

- Now right markets pent-up demand. We are seeing a rough picture of price movements in the area of ??0,30% per week up and down. No major ups and downs will not happen until a buyer waiting for better times. And he's afraid of economic instability.

Indeed, citizens of Ukraine continues to peter out quickly, and as a consequence, the money to buy apartments they simply remains. What determines the hottest segment of the real estate market 2011: the most liquid assets, the smallest, cheapest accommodation.

- The most attractive is now a one-bedroom apartments in "Khrushchev", located on the Cheryomushki - continues Tatiana Terletskaya. - Follow the demand for small apartments are in a nine-storey buildings, as well as a mini-flat in the old fund.

When that apartment prices continue to drop, demand is not affected - virtually no factors stabilize the economy. The reasons for the disappearance of a new customer - abound. On New Year's steadily increasing cost of domestic gas and electricity. More recently, rapidly moved up the price of gasoline. Increasingly, Odessa think much about whether to buy or change a car. Expensive all essential commodities. Before buying a flat now?

Time of optimism

Nevertheless, real estate operators believe that the market is not all that bad. This year there was a small, but still a real cause for optimism. In the almost complete lack of mortgage lending have a real opportunity to buy an apartment. But with very specific conditions.

- If last year lending rate for the purchase of residential property of not less than 25%, today the conditions have changed, and banks offer already 14,9%, but only in UAH, - notes Tatjana Terletskaya.

In Odessa, work at least three banks willing to lend at these rates. But the following condition for the last three years the crisis has not changed: the first payment for an apartment must be at least 50%. However, even at such very difficult conditions, are welcome.

- People who once scalded in mortgage lending, not in a hurry again to resume relations with the banks, - says Dmitry Grabin. - Too hard for them to cost the financial crisis.
Another positive point that can already be called a trend - is increasing demand for land. According to observations of real estate operators, the main buyers of land located on the outskirts of Odessa, were our sailors.

- The land market that had fallen to 5-6 times, has proved very attractive to sailors podflazhnikov, - says Dmitry Grabin. - They have the financial ability, between flights, to buy land in Ovidiopolsky, Kominternovsky or Belyaevsky areas for future home construction.

Even appeared in a catastrophic situation Newbuilding market gradually returns the buyer. But this, unfortunately, are not citizens of Ukraine. Last summer, according to EA, "The first real estate companies, apartments in new buildings, commissioned, purchased the citizens of Moldova, Belarus and Russia. Moreover, the most active and reputable buyers, by tradition, are the Russians.

Today realtors are again ready to welcome guests from foreign countries.

But hopes for their own, local customer are still just hopes.

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