Experts: Raising the price of new building will not be | Предприниматель

Experts: Raising the price of new building will not be

Now the average price per square foot still close to its market minimum. However, prices should not expect as soon not see those macroeconomic factors that could affect the increase in demand and therefore prices. This was shared Natalia Pronin, head of marketing and research company «Knight Frank».

“The market is in crisis in the segment of business and economy merged into a single buyer’s market, hence the corresponding price, particularly for the housing economy class” – explains Natalia. In Econom segment there is a weight problem that spawned the financial crisis in the country (very expensive loans, falling incomes, lack of confidence to developers, the risks of long-term construction), so stagnation in property prices is very real reasons.

Table 1.

Basic indicators of primary residence in Kiev*
Market segment Average prices, $/кв. м Changes in average prices, %
IV quarter 2010 г. for IV quarter 2010 г. for 2010 Change from the beginning of the crisis (Q4 2010 / Q3 2008)
Luxury 7 460 -0,4% -5,4% -23,5%
Business Class 2 198 0,2% + 15,4% -38,3%
Economy Class 1 341 -0,1% -0,3% -38,1%

Of these segments, it is most business-class fell in value in the crisis. The peak of the maximum reduction in prices in this class detected in the II quarter of 2009, the market dipped by 44% of the maximum value. But in 2010, most facilities have raised the price of the squares in the business class, so by the end of 2010 the segment grew by 15%. This year, some significant jumps in prices for all classes of property are not expected, since the prognosis may well increase the market to meet current demand and to support current prices.

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