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| Current situation at the Kiev real estate market: |
| Profile 2005 |
1. Current situation at the primary Kiev real estate market, current scopes of construction
2. A price situation in the primary and secondary habitation markets, forecasts on new buildings cost change
3. Inquiries and needs of customers (floorage, placement, lay-out)
4. Forecasts on development of the primary real estate market - price, new areas of construction, reconstruction and allocation of sites for construction in city centre
All experts of the real estate market converge in opinion that demand for primary habitation stably exceeds the supply. Though now, in comparison with events of the recent past, the situation has more or less calmed down. If 1,5-2 year ago in the market the excessive demand for all classes of new apartments was observed, any habitation coming to the market was bought up quickly, special claims from consumers were not observed, now the customers became more selective and informed. They put forward certain requirements to all the parameters of the future house: to the quality of construction works, area and a lay-out of the apartment, technical equipment, external and internal characteristics, placement, adjoining infrastructure and social environment. All this should be considered by builders when designing, constructing, internal development and positioning of the object. Builders and customers are closely connected with each other by market relations. On their ability to listen to each other depends, what kind of modern habitation will be built, how well it will respond wishes of the target audience and, proceeding from it, what are the prospects of domestic construction business development.
The universal practice shows that in the developed countries the real estate rises in price on 5-8 % annually. Our rates are still higher due to more dynamical inflation, smaller competition and in order to maintain some security in case of possible financial risks, which probability in our country is higher than in the countries with stable economy.
Besides year after year quality, appearance, internal development of new capital buildings noticeably improves. Now customers are interested not just in square meters, but a new concept, new approach to the organization of housing, intrahouse and domestic space is interesting to them. Remarkable is that the given tendency is a characteristic not only for expensive elite projects, but also for middle class houses. Probably now standard lay-outs and general construction solutions are still tolerated only for "budgetary" habitation.
The tendency which can be predicted with a big share of probability is a gradual increase of public opinion as for comfortable habitation characteristics.
Milan M. Pajevic
Operating director of “Slav-Invest” LLC
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