Review real estate market





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08.10.2009 11:57
Crimean estate

Now (end 2009) in the Crimea at various stages of construction are about 250 residences with total area of over 3 million sq.m. However, more than 80% of all new buildings are currently being held in the status of "frozen". Others are build with very low rates. Hence, the timing of delivery of these homes to market will be postponed to a later period.

Most of the housing under construction belongs to the economy class (about 67%). The business and elite classes of apartments, according to the company MACON Realty Group, accounts for 28% and slightly less than 5%, respectively. Note: under construction low-cost housing is represented by the apartments, while the business and elite classes - both flats and apartments – housing without the right to residence.

Apartments – housing which are built on the Black See first coastline (not more than 100 meters from the coast) in connection with the fact that in this zone according to the law "On the resort" is allowed only the construction of spa facilities. By the way, the cost of service of such apartments is about $ 2 per month for 1 square meter (utilities are paid separately, usually on the counter).

So far, the precise classification of the Crimean estate, which would definitely take all market participants, not emerged. Nevertheless, the general characteristics of classes of real estate there. How suggest experts Knight Frank, to a luxury resort segment includes projects that have the following characteristics:

• location in the most popular resort areas of the Southern coast of Crimea (South Coast)
• short distance to the sea (up to 1 km);
• individual project;
• high quality technical and architectural solutions;
• quality of construction;
• presence of their own infrastructure;
• sales price - above $ 2 500 per sq.m.

Developers, who would only deal with high-performance housing, as a result of economic shocks have revised their prices. Compared with September 2008, the cost of housing in the Crimea has decreased by 45% and now stands at an average of $ 1600 per sq.m. The most significant drop occurring in the facilities business and elite classes (an average of 25% to 55%). "But the expected surge in activity of potential buyers did not happen", - states Ilya Volodko, CEO MACON Realty Group.

At 30-60% cheaper medium-sized projects under construction cycles: real estate investors fear the risks unfinished. So, for the most daring and thrifty buyers it is "the very" time to buy. Of course, if you do not hurry to enter your home spa: deadlines can be unpredictable. Therefore, greater demand for sites with similar dates of commissioning. But to save twice on such housing not get: discounts are not more than 30%. "With regard to the secondary market, but now it is stagnating. At some sites the prices were adjusted up to 50% ", - says Elena Nekrytova, director of resort real estate company" new quality ".

Estate at any purse?
In pursuit of expensive square meters buyers stay in Yalta. There, the cost of 1 sq.m comes to 3150 dollars. Or in Alushta (2050 dollars). These are located in the Crimean city of demand among potential buyers of resort area - on the southern coast of Crimea. There are built mostly luxury and facilities close to them. The lowest value of residential real estate is fixed in Evpatoria (1400 dollars) and Sevastopol (1350 dollars), where the main part of the proposal are objects of economy class.

As in any resort area, the price depends on the mass of components, ranging from species and infrastructural characteristics and ending with finishing materials. However, the finish is given much smaller attention than in the residential complexes abroad. This is understandable: the Crimean market of high quality housing is relatively young (the first facility was commissioned in 2004). And apartments on a turnkey basis, according to Helena Nekrytovoy ( "new quality"), virtually no local developers have not yet reached world standards.

Over the period 2007 - I half of 2009 at the Crimean market left 21 objects of class "elite", 5 projects of which are presented in the format of cottage settlements. Overall, since the beginning of the construction of luxury real estate in Crimea - from 2004 to date - entered the market around 6460 apartments and about 280 cottages class "elites". Since the beginning of 2008 until the end of 1 quarter. 2009 the proposal in a class of elites grew by 1 182 apartments and suites and 60 cottage homes in the townships.

Objects, announced to the output in 2008-2009. Was much greater. Impact of the crisis, the difficulty of obtaining financing, decline in demand and, accordingly, a sharp decline in sales of attracted funds has forced developers to postpone the implementation of these projects indefinitely. As a result, over the next year sentence in a segment of luxury real estate in Crimea will be presented to projects that are now already under construction.

Geography lesson: cheap and expensive territory
Preferences of potential customers remain unchanged. The most demanded points on the map of Crimea realtors called Gurzuf, Livadia, Yalta, Alushta, Foros, Massandra, Nikita and Sevastopol. The most prestigious is the South Coast of Crimea (the area from the bay Laspi to Alushta). And the economy and business-housing should be chosen in the Southeast and West Coast. Average price offers facilities located here is $ 2 000 per sq.m.

The main developers in the south-eastern coast are the local company Krymzhilstroy "," construction battalion ". In the area of Feodosia "Krymzhilstroy" builds on the sea coast two objects: "Golden Beach" (Kerch highway) and the apartment complex in the area of the Cape of Elijah. Company "construction battalion" implements projects of residential complexes in Orzhonikidze.

In addition, "SSC-Ukraine" began the construction of large-scale project "Grand Cimmeria" in Koktebel in the area of 6 hectares, where the concept envisages construction of three 9-storey residential sections and thirteen 4-storey. On the West Coast of Crimea construction primarily takes place in Sevastopol and its suburbs. In this area realized cottage villages mostly class "business" and "economy", for example, "Star City" (the village Orlovka), MAR LE MAR (village of Sandy). At the seaside village of Kacha apartment complex with infrastructure builds company "Trigon".


For investment purposes
"In the current environment is difficult to predict the rate of return of investment, because the resort real estate market in Ukraine is subject to correction", - explained online magazine Metrinfo.Ru experts at Knight Frank in response to a question about the reasonableness of investment spending in the Crimean housing.

Despite the fact that, in the Crimea implemented dozens of modern resort real estate projects, the Peninsula continues to play overseas resorts because of poor service, lack of high-class hotels and underdevelopment entertainment, health and beauty facilities. In addition, Crimea needs modern infrastructure - engineering networks, sewage treatment plants, roads, etc. And yet, this is not too well-maintained territory with a heavenly climate remains interest from buyers and developers.

Projected Ilya Volodko (MACON Realty Group), next year the real estate market of the Crimea will be attractive to investors. Proof of this are the high rate of housing sales in the pre-crisis period, which will ensure the growth of the input multi-storey houses and the price level of these objects (from January to September 2008 house prices in the primary market increased by an average of 2,5-3,5% per month).

How foreigners could buy Crimean real estate
Buying a property in Crimea has the following legal aspects:

1. Ownership is subject to compulsory state registration in the bureau of technical inventory of the location of the property.

2. Documents required to obtain ownership rights:

- Passport, translated into Ukrainian;
- Certificate of the identification number according to the State register of natural persons - taxpayers;
- A notarized consent of the spouse (in the case, if the buyer is already married);
- Documentary evidence of legality of stay resident in the territory of the republic of Ukraine.

3. If the buyer purchases a house in privatized land, he can get and ownership of land, but only if the site is within land settlements.

Note that among the necessary tax levies on the acquisition of real estate include retirement fund (1% of the value of the object under a contract of sale) and state tax (1%).

www.zagorodna.com
 


Content tags: Property
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