Share of investment deals with housing property in Kyiv doubles since 2010, says expert
Kyiv, November 21 (Interfax-Ukraine) – The share of investment deals on the sale and purchase of housing for the purpose of saving moneyin Kyiv grew to around 15% in 2013 of the total number of transactions from around 7% in 2010, Head of Strategic Consulting Department of the UTG Viktor Oborsky said.
"It’s pleasant to say that we're gradually seeing the return of investors to the housing property market, as the acquisition of property continues being an effective instrument for saving money," he said, with the reference to the information from constructors, at a press conference at Interfax-Ukraine on Wednesday.
Growth in investment deals in 2013 for the purpose of diversifying risks has been registered both on the primary and secondary markets in Kyiv, Oborsky said.
"There are no alternative instruments for investing in this country. Deposits have their own risks, their own nature, and we know many cases of non-return, etc. People diversify the risks: they have deposits and own property," he said, answering a question on the reasons of the growth in investment deals on the capital housing property market.
Oborsky said, referring to data of construction companies, that as a rule buyers pay 100% of the cost of apartments during the investment deals, not using the possible mechanism of paying in installments.
The Ukrainian Trade Guild was set up in 2001. It specializes in providing comprehensive assistance to development projects.
Over the 12 years of its operation, 97 real estate facilities have been opened with the participation of the UTG, including the Ocean Plaza shopping mall (Kyiv), the Meganom shopping mall (Simferopol), the French Boulevard shopping mall (Kharkiv) and Global.UA (Zhytomyr).
The UTG is selecting leasers for facilities with a total lettable area of over 500,000 square meters.