Fall of prices on primary housing market slow to 0.6% a month - expert
KYIV. Oct 24 (Interfax-Ukraine) – The fall of prices on the primary housing market slowed in the past months to 0.5-0.6% a month, a representative of the Realtors Association of Ukraine Eduard Brazas has said.
"Prices of property in all regions continue falling, but the falling pace has slowed down. If last year the prices declined by 1.5-1.8% a month, this year we see a decline of 0.5-0.6% a month," Brazas said at a press conference at Interfax-Ukraine on Tuesday.
He said that in coming months the prices will continue falling, but the decrease will be small.
He said that professional investors are returning to the primary housing market, which is a positive signal for the market. This year the share of deals in the economy segment on the primary market has grown.
"If last year 70% of buyers could afford to buy a one or two-room apartment for $25,000-60,000, this year demand shifted to the cheaper sector – from $20,000 to $40,000," he said.
Brazas said that the number of transactions on the real estate market this year increased by 65%, and the increase in the number of deals in the economy segment did not result in the increase in the money supply on the market.