You're reading: Experts: Constructors retain prices on primary housing market in Kyiv, prices on secondary market slightly grows in national currency

The average price of apartments on the secondary market in Kyiv in hryvnias grew by 3.3% in March 2014 compared to the previous month, being Hr 20,450 per square meter, and it fell by 3.4% in the U.S. dollars, to $1,916 per square meter.

According to data from the Stolychna Nerukhomist information and
analytical portal (Kyiv), the prices of apartments on the left and right
banks in Kyiv grew by 4% and 3.8% in March, TO UAH 15,814 per square
meter and Hr 19,203 per square meter respectively.

The prices of apartments on the secondary market downtown Kyiv grew
by 2.7% last month, to Hr 27,831 per square meter, reads the report.

According to Stolychna Nerukhomist, supply on the secondary market in
March fell by 11.4% compared to the previous month and by 3.4% compared
to March 2013 and amounted to 18,364 apartments.

The share of apartments t hat were first put up for sale in Kyiv in
March came to 12.9% of total supply, according to the report.

Stolychna Nerukhomist said that average price of apartments on the
primary market in Kyiv in March fell by 1.05% compared to the previous
month and grew by 2% on March 2013, reaching Hr 13,610 per square
meter.

The analysts link the decline in sales on the primary market in Kyiv
with the unstable political situation in the country and the existing
danger of war conflict. They said that the forecasts on the mass
increase in the prices of apartments by constructors due to the
devaluation of the hryvnia against the U.S. dollar did not work out.

“Growth in prices will stop sales at all. However, when the situation
stabilizes, one should expect that the prices will grow, as the prices
of construction materials and related expenses of constructors are
growing,” the experts said.

Stolychna Nerukhomist said that in March the prices of economy class
apartments grew by 0.9%, to Hr 10,090 per square meter and that for
premium class apartments by 0.64%, to Hr 22,140 per square meter. The
prices of business class apartments fell by 0.76%, to Hr 15,249 per
square meter.

According to the report, the share of economy class apartments of
total supply on the primary market in March was 58%, while the share of
business class apartments was 29% and the share of premium class
apartments was 13%.

Stolychna Nerukhomist said that a total of 18,364 apartments were
analyzed, including 4,939 one-room apartments, 5,895 two-room
apartments, 6,220 three-room apartments and 1,310 four-room apartments
and 118 construction projects in Kyiv.