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European Debt Crisis
Europe’s sovereign debt crises are changing daily, yet are making little...Today's investors in Ukranian real estate, who are they?
Sergey But, Managing Partner of NAI Pickard, about foreign estate investors and...How to choose a valuation company?
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For the first nine months of 2010 eight new properties appeared on the elite residential market, 2 projects announced the construction of the second lines, and one project was renewed after the crisis. This additional stock could not but affect the demand structure for elite residential property – if in the beginning of 2010 the majority of purchases fell to the secondary market, now about 40% of all the agreements are made on the primary one. However, potential buyers are more interested only in commissioned projects. Nobody is willing to buy apartments in unfinished buildings.
At the same time the market players confirm that in the majority of cases the development of the infrastructure, inherent to the elite properties (sauna, swimming pool, children’s room, fitness centre etc) is postponed by the most developers. Experts say that the situation in the service of elite properties can change only when companies will start to earn by their services and the owners in their turn will pay for these services in time. “The possibility to earn is the biggest incentive, as there is demand for such services , so I am sure soon all the elite properties will switch to the high level of service”- says Julia Olshevska, residential property specialist of NAI Pickard.