The entire Internet space is literally absorbed by information and news related to the epidemic of the Covid-19 virus, which the World Health Organization has already declared a pandemic. One by one, European countries, with varying degrees of spread of the virus, closed their borders and imposed quarantines within the countries.
Following its European neighbors, Ukraine also announced a quarantine on March 16, which, according to the public, may last until the beginning of summer. Will this affect the real estate market and how - let's figure it out. And the question arises, is it worth investing in real estate in Ukraine?
In Kyiv and other cities, the panic spread much faster than the coronavirus itself – Ukrainians massively began withdrawing their savings and closing deposits, which caused the dollar to rise against the national currency. By the way, if you are thinking about buying real estate, we recommend that you contact us professional luxury real estate agency THE Capital.
It turns out that people now have a large amount of cash in dollars and hryvnias, but people do not understand what to do with them - hide them under their pillows or send them to where they will "work". Our answer is very simple "Money must make money" and now is a very good time for it! But some people who know what to do with money are lurking with another question, how to invest in real estate in Ukraine.
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First, buying real estate now is a great opportunity to "fix" the course of your invested finances. This is especially important in the conditions of the fact that the exchange rate is increasing every day, until it is clear at what mark it can be fixed and whether there will be a "rollback" after some time. Ukraine was already in similar situations in 2008 and 2014, and as the founder of the real estate agency "THE Capital" Kostyantyn Pisarenko says, all crises have one thing in common - the unknown.
"No one understands how long it will last, but investing in real estate costs money. Last time, for example, a house that was bought for $800-$900 is now worth at least twice as much."
Konstantin also added that the main thing is to do everything wisely, not to invest all the money, to look for profitable options, to "beat out" profitable offers. According to expert forecasts, Kyiv's real estate market may stagnate in the near future due to the strengthening of quarantine conditions, if movement around the city is restricted, but these are only temporary measures.
As for housing rent, everything indicates that no special changes are expected, on the contrary, the first week of quarantine showed that there were even more requests for rent than before. Even in a pessimistic perspective, people will change apartments to more budget-friendly ones, but a decline in this direction and rental activity is not expected.
See also: Renting an apartment: how to write an ad correctly?
Volodymyr, an expert in real estate sales from one of the Kyiv agencies, comments on the situation as follows:
"This is a short-term period that can last up to 3 months. Now many are asking "will real estate prices fall now?". There are no visible reasons for the fall in prices. The number of purchase inquiries has decreased, but in the meantime these inquiries have become more targeted . Those who planned to buy real estate earlier do not postpone it for later. Real estate owners are ready to make concessions."
Experts from other capital real estate agencies emphasize that the demand for country houses has increased sharply, clarifying that this is also connected with the desire to temporarily distance oneself from the busy city life with concern for one's safety. Tenants even agree to options further away from the capital. And now the number of requests significantly exceeds the number of similar offers. We are talking about renting, as for the purchase of suburban real estate, the situation remains at the "up" level for now.
In order to understand in detail and reasonedly for yourself which real estate you can invest in more successfully and more profitably right now - consult experts who will offer options based on your budget, and also based on their experience, they will tell you about possible risks when investing in real estate, so that you can avoid them. Was the publication interesting and useful? Subscribe to our real estate blog updates and get the latest posts from THE Capital real estate agency.
