Sales of apartments from constructors in installments could partially replace banking crediting

Kyiv, June 30 (Interfax-Ukraine) – Sales of apartments on the primary market in installments by constructors could partially replace banking crediting and it is more profitable for buyers, according to a senior lawyer of the "Vasyl Kysil and Partners" Law Firm, Natalia Dotsenko-Bilous.

"Taking into account our practice, we can say that many constructors have started selling apartments in instalments, and the period could reach even ten years. These are not single cases, and the trend is gradually covering the market, especially when it concerns multi-apartments blocks. This could partially replace banking crediting," she said at a press conference at Interfax-Ukraine on Wednesday.

Dotsenko-Bilous also said that constructors propose lower interest rates for apartments bought in instalments.

"This is better than a banking credit, as we don't see conspiratory banking interest rates. It's cheaper, as there are no intermediaries," she said.

In turn, the director general of the Kansas Company Oleksiy Kiselev said that in May 2010 a constructor in Kyiv sold 40 apartments in instalments.

"As for housing sales under the said programs, today there are such projects in Kyiv, in particular, in May 40 apartments were sold," he said.

Conference participants did not disclose how many apartments are sold in instalments in Kyiv by constructors.