16:31 14.02.2018

Number of transactions in housing market in Kyiv 8% up in 2017 - UTG

KYIV. Feb 14 (Interfax-Ukraine) - The number of contracts for the sale and purchase of apartments in Kyiv in 2017 grew by 8% compared to 2016, to 31,400, setting an absolute record, UTG consulting company has reported, with reference to data from the Ministry of Justice.

"Some 31,400 transactions were signed in Kyiv in 2017. This is the highest figure in one region in the whole history of housing sales in Ukraine. This shows that apartments are in demand among the population against the backdrop of the non-functioning banking system, the stock market, investment instruments," the deputy head of the UTG strategic consulting department, Kostiantyn Oliynyk, said at a press conference at Interfax-Ukraine.

According to the company, for the first nine months of last year, 56% more housing was commissioned than for the entire 2016 -1.1 million square meters. At the same time, the number of new apartments that entered the market for the three quarters amounted to 17,200, while for the entire year of 2016 the figure stood at 20,300.

The average area of apartments continued to decline and amounted to 62.7 square meters.

Data for the last quarter of 2017 are not yet available.

"We can state: the record for the volume of new housing has been broken. This is also determined by the increase in the number of contracts signed," the expert stated.

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