17:34 13.07.2015

Cost of housing in Kyiv in U.S. dollars to fall by 7-10% in H2, 2015 - UTG

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Cost of housing in Kyiv in U.S. dollars to fall by 7-10% in H2, 2015 - UTG

The average cost of one square meter of housing in Kyiv in U.S. dollars in July-December 2015 will reduce by 7-10% and reach $1,116-1,153 and $1,456-1,505 in primary and secondary markets respectively.

The senior analyst of the strategic consulting department at UTG (Kyiv), Kostiantyn Oliynyk, voiced this forecast at a press conference in Kyiv.

"To a large extent the housing market is tied to the U.S. dollar and experience shows that prices in U.S. dollars decrease very slowly: we can say that under such circumstances as now a maximum decline of 7-10% could be expected by the end of the year," he said.

According to Oliynyk, in January-June 2015 the average cost of one square meter of housing in primary and secondary markets in Kyiv in U.S. dollars decreased by 7-11%, to $1,240 and $1,618 respectively.

He said that the cost of primary housing in the national currency rose by about 70%, to UAH 25,585 per square meter, secondary housing - by 54%, to UAH 33,978 per square meter.

UTG was founded in 2001. It specializes in the quality assurance and control of development projects.

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