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Friday, May 11, 2007

Info from residential market

Kiev flat prices going down. During the summer time secondary market supply prices could decline up to 10%. In spite of lack real buyers prices can't grow any longer. Different residential experts say that since the end of last year, sales of each thirteenth flat cut prices USD 3-15 K, and the same number of owners to do so in negotiations with the buyer.

Sounds real, comparing that apartments in Kiev are in 1,5-2 times more expensive than in Warsaw, Sofia, etc.

As a result, there are a large number of "frozen" apartments. According to the "Planeta Obolon", as compared with April 2006 now the listings for sale have 25% more apartments and nearly 60% more than in December last year.

Realtors say that the disappearance of the buyers has led to some " step back" prices. However, as a 1, 5 year, this is regarding only those who can not wait and is interested as quickly as possible to obtain cash.

Most experts agree that at summer even more apartments reduce their price and the total trend could reach 10% down.