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Mar 25, 2020

No life what happens to prices for Kiev real estate Ministry of Finance

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No life what happens to prices for Kiev real estate Ministry of Finance square meter

No life: what happens to prices for Kiev real estate – Ministry of Finance

The Kiev real estate market has practically stopped.

According to the Blagovest real estate agency, in May the volume of investments in the capital’s real estate about $ 22.6 million, which is half as much as in April. Then the people of Kiev skimped on $ 33 million, and a month earlier, in March – by $ 34 million..

“There have been periods when no one even called, let alone views and deals. April, which has always been considered very active, this year has become “dead”, and in May traditionally began a period of long weekends, and demand fell even more, “says Irina Lukhanina, head of Best & Seller agency.

More or less lively now, except that the segment of the cheapest housing – up to 50 thousand dollars. Such apartments are taken both for themselves and for rent. “For objects that are really profitable to lease, in general there is a hunt – they are dismantled in just a few days”, – said Mikhail Artyukhov, Managing Partner of ARTA Property Management.

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Recent trends have already affected prices. Although their overall level did not fall, and developers even announced a rise in price, you can get an individual discount both on the secondary housing and in new buildings. And the skeptics have once again started talking about the “construction bubble”. According to their estimates, it should “burst” this fall. Moreover, there are indeed more and more problematic facilities both in Kiev and in the suburbs..

“The Ministry of Finance” figured out why the people of Kiev stopped buying apartments, and what will happen to prices.

Request – for the cheapest

According to Mikhail Artyukhov, the people of Kiev have postponed their dreams of a housewarming due to the presidential elections and the associated uncertainty in the country. “People just decided to wait. This was especially noticeable before the first round, when there was no clarity at all about what to prepare for, “says the expert.

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After the elections, little has changed: housing in the capital is still in minimal demand. Although, according to the Academy of Sciences “Blagovest”, the demand still revived a little.

Basically, people solve their everyday problems (moving and exchanges) or try to invest savings in apartments for rent.

Interest rates on bank foreign currency deposits remain low – 2.5-4.5%, and many Ukrainians do not risk investing in hryvnia, fearing devaluation. It is possible to earn up to 10% per annum in foreign currency in an apartment, experts explain..

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According to Mikhail Artyukhov, the main demand now is for the cheapest housing. “20-30 thousand dollars for an apartment of any size, but in a residential condition, which can be rented out right after the transaction, without investing in additional repairs, or 50 thousand dollars for the same object closer to the center,” said Artyukhov.

According to him, large apartments have “hung” on the market and now there is even a service for their reformatting. For example, from big three rubles in new buildings they make several “units” for change.

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Co-founder and managing partner of the Ukrainian Real Estate Club (URE Club) Olga Solovey notes that now about 20% of all apartments are purchased for their subsequent lease.

According to the agency “Blagovest”, the segment of objects under 50 thousand dollars in May took 37% of the total number of real estate transactions. In April, the share of this category was 33%.

The most actively sold 1-2 – room apartments in Darnitskiy and Solomenskiy districts. The cheapest “lot” in May was one in the Svyatoshinsky district – an apartment of 26 square meters was bought for 20 thousand dollars. That is, the buyer paid $ 760 per square meter. In Goloseevsky district, a two-room apartment of 50 square meters went for $ 40 thousand ($ 800 per square meter).

Apartments in the price range of 50-100 thousand dollars, according to Blagovest, accounted for 39% of transactions. Mostly we are talking about “kopeck pieces” and “treshki” in Shevchenko and Dniprovsky regions.

No life what happens to prices for Kiev real estate Ministry of Finance Mikhail Artyukhov

Only 19% of transactions fell on elite housing costing from 100 to 250 thousand dollars in May, while a month earlier – 26%. And buyers with a budget of $ 250 thousand, on the contrary, became more active after the elections: 5% of transactions in May versus 3% in April.

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They build a lot and are expensive

As realtors told the “Ministry of Finance”, last year in Kiev, about 6 thousand transactions of purchase and sale of housing were concluded. Before the crisis, they bought so much per month. But this year may be even more disastrous than 2018. Instead of 500 transactions per month since the beginning of 2019, at best, 300.

At the same time, the supply of apartments – both in the secondary housing and in the primary housing – remains huge. For each potential buyer, there are several dozen or even hundreds of options. And housing continues to build.

In Kiev, there are now 58 housing complexes at the project stage, 31 are undergoing preparatory work, 186 are under construction.

Interestingly, despite the low purchasing power of the population, developers not only announce more and more new projects, but also make attempts to raise prices.

“For the second month in a row, the average cost per square meter in new buildings in Kiev is growing, and this time at once by 700 hryvnia or 3%, up to 24 thousand hryvnia. In May 2018, prices for apartments in Kiev were at the level of 22,200 hryvnia, that is, over the year they increased by 1800 hryvnia, or 8.11%, “- calculated the chief winstrol tabs for sale expert of the online magazine about new buildings 3m2 Victoria Bereshchak.

The minimum price per square meter in May was UAH 16,300. This is UAH 100 or 0.62% more than a month earlier. That is, even against the background of absolute calm on the market, developers still risked raising prices.

The companies explain their actions by the rise in the cost of housing. According to the Ministry of Regional Development, construction in USA this year has risen in price by an average of 11%.

“For 5 months, construction materials have risen in price by an average of 8%, and construction and installation work – by 13-17%. For example, rebar increased in price by 8%, brick – by 10%, gas block – by 6%. And in June, the cost of concrete and concrete products will increase sharply – by an average of 10%, ”explained Vladislav Kononov, managing partner of AVM Development Group.

However, according to Mikhail Artyukhov, many developers deliberately overestimate the cost of construction. “They raise money buy superdrol online from third-party investors, then show a yield of 10% or less (real profitability on the market average – 20-25% – “Ministry of Finance”), and put the rest of the money in their pocket. It turns out that only builders make money on this business, and investors are left with nothing, ”the expert said. According to him, such schemes have already provoked numerous scandals in the construction market, and some small and even medium-sized companies have left the market or are close to it, which clearly does not add stability to the industry..

At the same time, the number of problem objects is growing. “According to Monitor.Estate, about 20% of housing estates in Kiev are being built without building permits. About 3% of objects are being built without work licenses. About 51% of objects (more than half) are built on land that is not suitable for residential construction. 32% of construction participants have tax arrears. And against 17% of subjects, enforcement proceedings are open. These indicate that all the high-profile facts in construction are nothing more than words. There is no transparent, clean market. And the matter is most likely in the prevailing corruption schemes, including in SACI “, – says Olga Solovey.

Price list “for friends”

Not everyone succeeds in selling housing at new prices.

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According to Irina Lukhanina, having nominally increased their prices, many companies give discounts for a specific buyer or hold promotions. It is interesting that now the developers are competing with their own clients, who bought housing at the stage of the foundation, and now do not mind getting rid of it. “They are ready to sell by assignment of rights, moreover, they give housing 15-22% cheaper than it costs from the developer. Many construction companies are trying in every possible way to prevent such transactions, for example, do not let new buyers into the facility, etc., ”says Lukhanina.

The system of discounts works in the same way on the secondary housing – nominally, prices do not fall, but you can always find an accommodating owner who will give up up to 15% of the declared value. Therefore, there is something to choose even primobolan alpha pharma for buyers with a minimum budget of 10 thousand dollars. For example, near the Chernigovskaya metro station on Miropolskaya Street, you can buy a 21-square-meter room in a kopeck piece for 11.4 thousand dollars. On Petro Zaporozhets – for 15 thousand a one-room apartment of 28 squares is being sold. A unit of 15 square meters on Demeevka was put up for 13.5 thousand.

At the same time, sellers are still counting on price increases. According to Vladislav Kononov, already in June, a rise in price is possible in the most liquid projects located in the suburbs – villages between Kiev and satellite cities at a distance of up to 5 km from the capital. “Therefore, in addition to the rise in prices caused by the increase in construction costs, 2-3% will be added to the price by the growing popularity of projects in such settlements,” he says. In Kiev, according to the expert, in 2019 the price increase may reach 10%.

Alexander Panfilov, head of the Svitlo Park mini-city sales department, agrees with him..

“It is likely that by the end of 2019, the cost of housing in the primary market of Kiev will grow by 10-15%, depending on the project itself, its location, the cost of building materials, the dollar exchange rate, as well as the demand among buyers, “he notes.

But Victoria Bereshchak believes that a jump in apartment prices should not be expected. All changes will be within 1-3%. According to Mikhail Artyukhov, even a situational decrease in prices is possible, especially if demand does not recover in the near future.

Maria Kolyvanova

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