The PROPERTY... the Third month of STAGNATION! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

The PROPERTY... the Third month of STAGNATION! - News about real estate, Kiev, Kyiv region. Real Estate In UkraineIn some segments of the market has seen falling prices and demand...Real estate in Lviv: the third month of stagnationThe real estate market of Lviv paused, and in certain segments of the market has seen falling prices and demand.As reported in the press service of the company "Rosan-invest LLC, in November, the cost of housing on the secondary market in Lviv fell by 7%. According to the Department of the analysis of investment risks of the company, if before the end of July 2008 of flats rose in price, from July to November, there is a rapid fall in prices.According to the data of Department of the analysis of investment risks of the company "Rosan-invest LLC, in November, prices of flats in the secondary market and subsequently continued to fall. It amounted to about 13% of the maximum rates in July, or $240. In November, the decrease in the cost of a one-room apartment amounted to 7%, a two - 6,4%, three - room-7,6%. At the end of the month the average price per square meter of the middle class in the city is $1690. The cost of 1-, 2 - and 3-bedroom apartments are practically on the level of January 2008. The growth from the beginning of the year does not exceed 1.8%, or $34.The CEO of the company "Rosan-invest Denis Smigel, predicting further development of the situation, noted that in January, February and March, the fall will continue. The cost of housing on the primary and the secondary market will drop by 20-30%. According to him, will be hardest hit segment of social housing, in particular, will significantly drop the prices of apartments in panel houses. "Although, in reality, the crisis will only bring rates into compliance with housing quality. No two-bedroom apartment in Lviv "socket" to cost as much as a house in Spain," said D. Smigel.In his opinion, after the new year in Lviv you can expect waves of non-mortgage loans. This will lead to the fact that in February-March 2009, banks will offer a range of residential and commercial real estate. The low prices of these objects will cause a slight recovery in the property market.The General Director of "Rosan-invest" also noted that the demand for real estate will not appear until the end of next year, while the proposal will be significantly less. This is due to the suspension of construction of the portion of the primary objects of real estate and allow one to assume that property prices in Lviv will rise to the level of the spring-autumn of this year not earlier than in 2-3 years.The company "Rosan-invest LLC is one of the leading real estate developers in Western Ukraine. Working in the real estate market since 2006, is part of a financial-industrial group Rosan.



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