The economic situation in the world, the political situation in Ukraine and the imperfectness of Ukrainian legislation have led to the fact that European investors have assumed a waiting posture regarding investment in the Ukrainian real estate market, the director general and a member of the board of XXI Century developer (Kyiv), Oleh Salmin, has said.
"Today we’re more pessimistic than optimistic, especially over the past three months, which is linked to the situation in the world and the political situation in Ukraine. Europe has abruptly hit the brake pedal. Even those European investors who we were in talks with have at least taken a pause," he said at the second annual Real Estate Forum 2011 "Residential real estate: development, marketing and sales" in Kyiv on Thursday.
Salmin also said that today the real investors for Ukraine are Russian banks.
"We see that the real investors for Ukraine for the coming year will be Russian banks. Russian banks see themselves in Ukraine, they are looking for ways to enter Ukraine, and not only the real estate market," he said.
Salmin said that in the present conditions on the market some companies that have to pay rent rates for land plots and that do not have funds to realize projects will have to sell land plots to other developers, or refuse to take them.
