Parliamentary election not to considerably impact Ukrainian real estate market, say experts
Kyiv, October 9 (Interfax-Ukraine) – The real estate market after the parliamentary elections in Ukraine in autumn 2012 will retain the price stability in demand and supply that have been seen since the start of the year, according to representatives of the Association of Realtors of Ukraine.
"We believe that the market will be stable [after the parliamentary election]. It's likely that prices will remain the same as now, and the market trends will not change: this is a gradual increase in the number of transactions and the buying power," President of the Association of Realtors of Ukraine Serhiy Zlyden said at a press conference at Interfax-Ukraine on Tuesday.
He said that the average housing prices of projects at the final construction stage on the primary market in Kyiv today are $1,100-1,350 per square meter.
The Association of Realtors of Ukraine said, referring to the Justice Ministry, that the number of deals on the real estate market in Kyiv in January-September 2012 grew from 633 in January to 2,084 in September on the secondary market and from 314 to 1,546 on the primary market.
"We haven't noticed a splash [on the Ukrainian real estate market] since the start of the election campaign. One cannot say that money [used in the election campaign] directly flow to the real estate market and impact it significantly," Head of the Information Technologies, Services, Analytics and MLS Committee at the Association of Realtorsof Ukraine, Eduard Brazas, said.
He said that since the start of 2012, as in 2011, apartments worth up to $100,000 were most popular on the secondary market in Kyiv.
According to the Association of Realtors of Ukraine, demand since the start of 2012 moved towards apartments on the primary market, which share of the total number of deals signed in January-September 2012 came to 42% compared to one third as of early 2012.
The experts also said that there are no economic preconditions for the increase in real estate prices in Ukraine and they are not expected by late 2012.
The Association of Realtors of Ukraine was created in 1995. It unites representatives of 25 regions in 32 cities and towns of Ukraine.