You're reading: Expert: electoral process has not invigorated activity on Kyiv’s housing market

There was no invigoration in activity on the housing market in Kyiv in October 2012 due to the parliamentary elections, according to a review by the Union of the Real Estate Specialists of Ukraine and Kyiv.

“The stimulating effect of the electoral process was not observed in
October, the housing market showed weak economic activity. Notably,
during the last week before the elections the highest rate of decline in
prices was fixed,” reads the report.

According to the experts, the average cost of housing in Kyiv in
October fell by 1.1% and now stands at $1,777 per square meter, while
the figure became very close to the historic minimum recorded in July
2011.

The experts noted that the decline in prices was mainly due to that
in districts close to the downtown and the peripheral districts of Kyiv,
while prices in Kyiv downtown slightly increased (by 0.13%).

According to the union, the average price of a one-room apartment in
hotel-type residential buildings in Kyiv as of November 2 was $51,947,
that of a standard one-room apartment – $69,419, two-room apartment –
$95,901, and that of a three-room apartment – $122,756.