Real estate market participants initiating development of new property classification
Kyiv, May 23 (Interfax-Ukraine) - The emergence of comfort class on the primary housing market requires the development of a new classification of residential real estate segments, experts of the market have said at a press conference at Interfax-Ukraine.
"In today's environment there is the need in a new classification of the real estate market, because the market itself has changed, projects, positioning were also altered. We are initiating the process of developing a new classification. We invite public organizations, developers and other members of the market to take part in the process. The process starts in May," director of City Development Solutions (CDS) consulting company Yaroslava Chapko said.
According to her, the new class on the market occupies about 20-22%.
"Where did the comfort class appear from? After the 2008 crisis, developers tried to reduce the cost of projects. This primarily influenced the change of architectural features of the project, reducing the classiness of the object. On the other hand, projects with large developed infrastructure started appearing, which cannot be referred to economy class. But in terms of their technical specifications they are lower than business class," the expert said.
According to the expert, comfort class took part of the market from business class in terms of lower prices, on the other hand – from economy class as comfort class is better than the cheapest panel construction.
In addition, according to the expert of the European City residential complex, Kateryna Temirbayeva, people buy not just square meters but a lifestyle.
"The format of simply a stand-alone house, unclear where it is built, is no longer relevant," she said.