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On December 2 at the National Reserve Sophia Kyivska took the final official event of the Ukrainian Real Estate Club in 2010 on the topic: «The residential real estate market - results and forecasts». The main issues discussed at the roundtable were:
• The situation on the residential property market by the end of 2010.
• Government actions to improve the situation on the residential property market.
• The ratio of banks to finance projects of residential real estate and mortgage acquisition of the primary real estate.
• Innovation of developers in the proposed market product and ways to promote the sales organization.
• Forecasts for 2011. Companies' plans for the construction of new objects of residential real estate. The dynamics of demand, the profitability of residential real estate market.
Roundtable was attended by representatives of executive power, domestic and international developers, investors, construction companies, the leading consulting and law firms.
The leading participants of the event:
• Vladimir Vysochin, Deputy Director of Housing, construction and building materials industry.
• Igor Dovban, Chief of the Economy and Investment department, Kyiv Administration.
• Michail Golitsa, President of HC Kyivmiskbud.
• Valeriy Kirilko, Director of development company Gerc.
• Arie Schwartz, General Manager of Seven Hills.
• David Amsalem, Partner of Colony Real Estate Professionals.
• Andrey Brinzylo, Senior expert of real estate financing, Ukrsotsbank.
• Alexander Borschevich, head of mortgage department, VTB Bank.
During a round table the moderator, Natalia Pronina, head of the Department of Housing, Knight Frank, said that during 2011 the market of Kiev came out 11 new residential objects of real estate. According to her, 5 of them belong to economy class, 6 - to business class.
Better dynamics, according to Mrs. Pronina shows a business class. «There is less frozen projects, more and more new buildings completed during the active construction», - she said, adding that in business class are actively being built about 2 / 3 objects, while in economy class - only half.
For 2010 the cost of facilities for business class, according to experts, rise for 15%, while the year before it fell to 44%. Dynamics of prices for economy class is now stable - the price for the last year remained virtually unchanged (falling during the crisis amounted to 40%). In the luxury segment of the fall during the crisis was quite substantial - about 23%.
In his report, Michael Golitsa, President of HC Kyivmiskbud, made a comprehensive analysis of the situation in the residential real estate market, demonstrating the key indicators of construction work over the past three years, and also gave information on the introduction of total living space for 9 months of 2010.
Special attention Mr. Golitsa paid to state actions to improve the situation on the market. In particular was cited as an example the program Affordable Housing 30/70, which is now actively being implemented by Kievgorstroy in close collaboration with government agencies. As for the plans of the country's largest construction holding company for the future, Kievgorstroy in 2011 is ready to reduce the cost of apartments for the waiting list for the program Affordable Housing to 7970 UAH / sq.m. Answering journalists' questions, Mr. Golitsa explained that the lower price will be due to the fact that there is public support, and the house can be completed in a short period of time. «Our market price - 8750 UAH. But construction of the facility takes a long time, if there is government support and funding for 30% of the homes is solved for several months, we agree to go for it», - said the expert.
Summing up his report, along with other experts, Mr. Golitsa said: «The crisis is not over yet, in 2010 the construction industry has significantly slowed the fall, but fall in the industry is not stopped».
Valeriy Kirilko, Director of development company GERC, said that now on a single potential buyer has 20 to 30 apartments for sale. At the same time, he said, property values in the secondary market is often lower than in the primary. The cheapest apartments, according to Mr. Kirilko, located in Kharkov and Zaporozhye. In particular, Zaporozhye prices returned to 2002 levels and now apartments in the primary and secondary markets of the city sold for $ 650-1000 per square meter In Kharkov, as in most other regions, now is not more than 50-60 trades per month.
In Dnipropetrovsk, apartment prices in the primary market is $ 880-1800 USD per sq m in the secondary - $ 700-1400 per square meter. Flats in the secondary market of Odessa is available for $ 980-1400 per sq. m. in the primary - for $ 980-1600 per square meter. In Simferopol, Crimea and other cities located not near the sea, apartment prices up to $ 1000 per sq.m. in the secondary market and up to $ 1100 per sq.m. in the primary.
In this case, as reported by Mr. Kirilko, buyers wishing to buy property in the primary market, do not even consider the objects with the degree of preparedness is less than 75%, and by taking a preliminary decision, 1,5-2 months tracking the progress of construction on the selected object.
The moderators of the roundtable were:
• Alexey Govorun, Deputy General Director for Strategic Development and Marketing of TMM.
• Natalia Pronina, Head of Housing Department of Knight Frank.
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Partners of the event |
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Official partner of the event |
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Official automobile partner |
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Musical support: STILL WATER BAND |
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