NAI Ukraine: Sales volume in primary real estate market grows by 4% in Kyiv
In the first half of 2017, apartments were offered to be sold in 178 new properties in Kyiv, 4% more than at the end of 2016. In the secondary market, the number of offers increased by 5%, according to NAI Ukraine’s analytical report “Review of real estate markets in Kyiv for 1st half-year of 2017 “.
In the first half of 2017, the growth trend in the residential real estate market continued with leadership being held by Kyiv, while the suburbs maintained the same pace as 2016. According to the results from 2016, the volume of housing in operation in Kyiv and the region increased, mainly due to the volume of construction in the suburbs of the capital. Solomensky and Darnytsky districts of Kyiv, and the Kyiv-Svyatoshinsky district in the city of Irpin were the most actively built up.
“The largest number of square meters were put into operation in the business class housing, however, it is a short-term situation that did not affect the structure of the primary market as a whole: small budget housing is still dominating,” commented NAI Ukraine CEO Vitaly Boyko.
As reported, housing prices in 2016 continued to fall, with the annual decline reaching 12-13% for both markets in Kyiv, and 6% for the region. In the first half of 2017, prices remained relatively stable with some seasonal fluctuations.
“The number of transactions with residential real estate shows growth in recent years. The reason is the fall in prices, the implementation of deferred demand and the attractiveness of this type of investment in a crisis financial system. However, supply grows faster than the purchasing activity, which leads to fairly high competition in the market. A similar trend is likely to continue in the future,” said Vitaliy Boyko, CEO of NAI Ukraine.
About NAI Ukraine
NAI Ukraine represents NAI Global in Ukraine. The company has become a leader in commercial real estate consulting and leasing. NAI Ukraine is a consultant and leasing agent of the major Ukrainian commercial real estate projects – such as Lavina Mall, Rive Gauche, Ocean Mall, Blockbuster Mall and many others. NAI Ukraine team has a vast experience: 700 consulting projects, over 100 properties put into operation, and over 3 million sq.m. leased. To learn more, visit http://naiukraine.com/en