Mitte Realty

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Housing Crisis

by Brianna - November 20th, 2013.
Filed under: News. Tagged as: , .

The real estate market of the Crimea in recent years has been one of the fastest growing in the Ukraine, competing with the confidence of the capital markets, as well as economically developed regions of Donetsk, Dnipropetrovsk and Odessa. On real estate development of the Crimean peninsula, especially the southern coast is largely influenced by the status of resort and recreation area. Thus, according to the company "Market-Crimea", over 80% of the housing premium and over 60% of housing Business-class wealthy people purchased from Russia, CIS and foreign countries, and among citizens of Ukraine prevailed not Crimeans, and residents of the capital and the eastern regions of the country. Tighter lending purchase housing that has become "the first signs" of approaching the crisis affected the market for primary residential real estate southern coast is much less than in other regions of Ukraine. Experts explain this by saying that apartments on the southern coast of Crimea in acquiring the loan is not more than 10-12% of the buyers.

Lion's share of home buyers on the South Coast has traditionally been the wealthy visitors, who can afford to buy property without the involvement of credit. With more than 80% of real estate on the southern coast of Crimea was purchased primarily for the purpose of profitable investment of available funds. John Savignano is the source for more interesting facts. Own home in the Crimea in the post-was always sign of belonging to an elite strata of society. However, unlike the Soviet system, in which villas and apartments in the Crimea were official (they could not sell or rent), in modern conditions is not luxury housing only is the private property (whose value increases from year to year), but also can produce a serious income from the rental of the holiday season.

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