Kyiv apartments fell in price twice

14:36, 14 April 2009
Ukraine
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During a year, prices on flats at the secondary market in Kyiv fell twice. According to the information of the Union of Real Estate Experts of Ukraine, the record fall in prices took place in the segment of one-room flats, Delo daily reports (#60 dated April 14).

In the first quarter of the year 2008, 1 square meter in one-room flats in Kyiv cost $3333, while in the first quarter of the current year, the price fell to $1878. The prices on two-room flats fell by 39%, three-room – by 38%.

Realtors believe the main reasons of the abrupt fall in prices are the reduction of mortgage crediting and the devaluation of hryvnia. In their opinion, prices on one-room flats have already reached the bottom. They expect that the native real estate market will recover by 2010, after the presidential election.

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