The average price of square meter on the primary elite class property market in Kyiv, which is around $7,200 now, would grow by 16% in the near term, the director for development at Knight Frank in Ukraine, Natalia Pronina, has said.
"There are several large-scale projects at final stages in the elite segment now… Prices, which will be announced on the market, would be higher than the average market price of current elite projects: the exact figure is 16%," she said at a round table entitled "Primary housing and construction market in Ukraine: prices, crediting and projections" held on Wednesday in Kyiv.
Pronina said that the sale of the apartments from the new projects will start in around two months.
The expert said that the step to increase the price is a risky one, as there are few elite apartments sold in the opened sales offices.
Pronina also said that new project with increased prices would be seen in the business segment, where the average price now is $2,410 per square meter.
The fall of the average price of economy class by 4% since the start of the year to $1,290 per square meter is linked to the commissioning of new projects with reduced price in the third quarter of 2011.
Pronina said that active sales are seen in the economy class segment.
Knight Frank was founded in London and provides a full range of agent and consulting services for developers, real estate owners and users, including businesses and individuals.
