REUTERS
Sales of newly-built objects have practically halted.
Ukrainian-based InCo home, one of the leading investment companies in construction and real estate industry, says the primary real estate market in Ukraine in January-March 2020 (Q1) lost 15% of sales year-over-year (y-o-y).
"In January-March, sales with regard to 20 new residential complexes, where the company invested, reached a total of 15,000 square meters. Last year, it was 17,500 sqm in Q1. We're seeing a 15% decrease against January-March 2019," the company's press service said on April 21.
Sales of newly-built objects have practically halted, the report says.
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"We are completing the construction of facilities that had started earlier and preparing technical and approval documentation. But we are not investing in new construction sites yet. When quarantine is over, we'll be able to understand in which direction the market is moving: whether the downward dynamics prevail or we see at least some revival," the press service quoted the co-owner and partner of InCo home, Bohdan Serotiuk as saying.
It is noted that the number of real estate installment deals will decrease, while hopes for mortgage revival will come in at least another three or five years.