Buy a cottage: «hidden» costs

11.03.2011 15:16
Articles about real estate | Buy a cottage: «hidden» costs Even real estate brokers and analysts "has finally acknowledged that the Ukrainian real estate price drops, and in the near future prices are not expected. For example, in Kiev, even according to official figures the cost of housing has fallen to only a few percent in February.

What are the prospects for this segment as a whole? Let's start with the fact that overseas property is now also resides in stagnation. However, the cost per square meter in Gda?sk relationship with the local average salary makes him already much cheaper than Ukrainian one square meter, says tomorrow.

Related article: Overview of cottage villages near Ufa

Some argue that compared to the prices of Ukrainian utilities in the same Europe is much more expensive. It's true. While still expensive, although we are already preparing to keep up with our neighbors and developed it. However, in recalculation on the same salary average European pays for your property 15-20% of their income, and a Ukrainian - 50%.

In addition, global crisis, in which Ukraine sink deeper and deeper, significantly lowered the purchasing power of citizens. If you consider the fact that the average salary in Kiev is now 300-350 euros without an uptrend, and prices for food and fuel rising almost daily, there are very few willing to take a real estate loan. First, because interest on the loan are still mad. Second, insecurity in most cases takes precedence over the desire to possess her apartment. Third, given the pessimistic mood in the economy and having free money, better buy for the same money to a normal real estate abroad than filthy Kiev Khrushchev near Chernobyl.

Of course, nobody doubts that the apartments will not go up. The issue is much more interesting - to what level they fall. It is hardly worth waiting for the ball sold out at 150-300 dollars per square meter, as pessimists predict. For that to happen, the average salary of a Ukrainian should be back in 90s and is about 50-100 dollars a month. Most likely (unless there is force majeure), by the end of the Kyiv real estate smoothly pass mark 1000 dollars per square in the new building for repairs and 800 - in the secondary housing.

If the economic situation will not improve, then by the mid-2012 $ 500 per square can become a reality, because the rental market is rapidly shrinking public services for the second apartment for the average Ukrainian family will be unfeasible.
Content tags: cottage villages CIS
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