In Kyiv there is currently an abundance of demand and a lack of supply of quality real estate stock and this has caused prices to grow dramatically and rental rates chargeable to go through the roof. The cost for land sites has risen threefold in certain parts of the city in just 18 months and there are more skyscraper projects being considered now as a result. The latest to be pronounced is Mirax Plaza complex, a 44 storey multi purpose development consisting of 380 apartments, business and trading centre, a recreation zone with restaurants.
We believe the Kyiv real estate investment market to be overpriced but many local agents and experts believe that prices are going to continue to increase with no indications currently suggesting a crash or even stagnation of prices in the near future. For this reason the capital could well be a good market to consider for residential property investing especially for purchasing to let or buying off plan in the latest developments for resale upon completion to an awaiting market which favors brand new property stock. But investors really need to get a feel for the market on a month by month basis before making a step.
An ideal alternative for investment in residential real estate is Odesa – it is enjoying magnificent infrastructure investment and foreign direct investment is inward introducing in many sectors. The city proposes sea services to the likes of Istanbul and it is also becoming a favorite location for holiday makers searching for an accessible destination with massive charm. The city population is increasing as the appeal of Odesa increases and job opportunities are formed, and Odessa could be one of the markets for a slightly shorter term turnaround of an investor’s commitment with short to medium term gains likely to be attractive.
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