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Thursday, March 1, 2007

Some info about single family construction in Kiev region

Consulting company SV Development completed comprehensive study of the single family houses (cottage) towns in Kiev region.

The study showed that during 2005-2007 number of small towns in the suburbs of Kiev tripled and became close to 80 (including projects at different stages of complete). The total market share of in the Kiev area of 1.8 mln. sq.m. (4 000 houses), which K360 of them finished and 1,44 mln. are under design and construction.

During 2007 are expected to be offered 1920 houses (K500 sq.m.). In 2008-09 respectively they say at least 11 projects (K250 sq.m.). The time of completion of the rest projects unknown.
According to company calculations on the assumption that the average cost of one square meter in the houses is about USD 1,600, the total market volume is about USD 2.9 billion.

Currently, developers mainly trying to get nearest Kiev area covering 20 kilometres around the capital. Киева. Results of the research showed that the majority of small towns located in the 20 km zone from the urban area - 50%, 27% - at 20-25 kilometres distance and 23% of more than 25 km. from Kiev. Main market share is covered by "premium" and "de-luxe" houses with 70%, economy and town-houses represented poorly - market share up to 30%.

At the same time, given the share of the total planned houses (1.8 mln. sq.m.), the objects valued up to USD 200 000 consist 48% of total supply. The second place (28%), placed houses over USD 500 000, the third is took by houses from USD 350 000 to USD 500 000 (15%). Slightly presented houses from USD 200 000 to USD 350 000 (9%).