In March 2014 in the Crimea there was a high demand for property by Russian citizens, the market declined, prices fell by 2%. Prices
According to the Trading System REM Navigator property prices in the Crimea during the past month decreased by 2 % (in USD). In the secondary market Simferopol average house prices by the end of the month were:
1-room apartment - 1030 USD / sq.m.
3 -bedroom apartments - 873 USD / sq.m.
house - 1150 USD / sq.m.
The main factor that influenced the political and economic life in the Crimea was the annexation of the Crimea by the Russian Federation . But the state of the real estate market is almost not affected. Although initially there was an excessive increase in demand for coastal property from Russian buyers , this demand has not yet had a significant impact on the price level . In addition, the increase in the number of real estate transactions prevents Rosreestra inability to organize the territory of Crimea normal functioning of the registry of real estate rights .
Crimean real estate market volume declined to the level of 8469 points ( -7.8 %). Many sellers of property removed from the auction.
Buying activity in the property market Crimea was high enough . The greatest demand for houses, apartments and land in the resort towns of Crimea.
Despite the dramatic changes in the political and economic spheres , which are associated with the establishment of effective control over the territory of Crimea from the Russian Federation , TC REM Navigator does not see these changes as a favorable factor that can have a significant positive impact on the real estate market of the Crimea. The Russian Federation is in the same doldrums as the Ukrainian economy , and not able to provide an annual GDP growth even at the level of 5%. At the same time , according to the analytical model TC REM Navigator, the normal development of the real estate market in the country with an annual GDP growth of less than 5% is not impossible. In these circumstances, the TC REM Navigator sees no reason to revise its forecast of the real estate market of the Crimea in 2014
Crimean real estate market forecast TC REM Navigator for 2014 remains unchanged :
dynamics of prices by month:
September 1 %
October +1 %
minor price fluctuations in the range 0 % for the year ;
increase in supply in the range of 10-15 % ;
slight increase in the number of transactions .
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 are an opinion of anticipated trends in the property market . Weather should not be construed as a guarantee of immediate results or a recommendation for action. Weather is not the actual information and therefore can not be characterized as " accurate " or " inaccurate ."
Recommendations for buyers and sellers
For sellers it is time to determine the competitive price and expose a property for sale .
Buyers time to analyze the market and begin to search for the optimal real estate.