Residential real estate: market prospects





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23.06.2010 19:46
Economic stability and the absence of exchange rate fluctuations on the currency market determines the gradual recovery of the primary real estate market.

Trends
Residential real estate market in Kiev is showing all the signs of recovery: the growth of the new proposal, the increase in the activity of customers, applications developers on new projects, the stabilization of average prices and price increases for individual objects, communicates in an analytical report of the company Knight Frank.

The increase in average prices recorded in several club houses, commissioned ("Clubhouse at Tithe, Residence M27). These objects, in terms of location, as well as engineering and architectural parameters have unique characteristics. Raising prices is due, as growth in demand for elite housing, and limited supply of constructed facilities.

As of June 2010 the average price per square meter prime property in the primary market is U.S. $ 7.326 thousand, while the monthly average increase in prices in the segment at 0.8% is already observed during the last 4-months.

For the second quarter of 2010 started selling landmark facility real estate market - the club house Fresco Sofia - first draft class of de-luxe in Kiev, which announced the highest standards of luxury housing, comparable to the best world analogues.

Revitalization of primary real estate market is confirmed by the dynamics of release of the new proposals. The volume of proposals for new facilities that came on the market in January-May 2010, at times exceeds the number of new luxury apartments, appeared on the market in 2009

Forecasts
Despite the relatively high activity of the market in January-May 2010, the current rate of growth of the market is unlikely to persist until the end of the year. The results of the seasonal surge in market activity will be more noticeable during June. Autumn vector of market development will largely depend on the general economic situation in Ukraine.

Following in 2010 the total increase in prices for elite housing will most likely remain within the 5-10% compared with December 2009. For the placed in service price increase will be greatest, since such objects are the most liquid commodities in the market.
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