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What will happen to the prices of apartments and new buildings in Kiev in 2020: forecast from market experts

The main factor of influence is the exchange rate

The largest real estate market players expect changes in the rules of the game in 2020. Other factors will also influence the situation. The capital real estate portal learned from experts what will happen to the prices of apartments and new buildings in Kiev in 2020.

The main factor influencing the prices of apartments and new buildings in Kiev is the exchange rate
The impact of the exchange rate on the situation in the real estate market in 2020 will continue. While experts cannot predict the real dollar exchange rate, many factors depend on its change – the result of negotiations with the IMF, inflation, the political situation and others.

UTG believes that together with the stabilization of the national currency and its further strengthening, the price of real estate in 2020, denominated in US dollars, will gradually increase in all classes.

“If we talk about forecasts for 2020, then again it is worth starting from both economic and political factors. It is obvious that the hryvnia exchange rate will change, because now in the budget for next year the adjusted rate is laid down, exceeding the mark of 27 UAH. for a dollar. With regard to political aspects, the market is awaiting the adoption of an important law aimed at protecting the rights of investors, as well as regulating the completion mechanisms of long-term construction. In addition, everyone is waiting for the launch of an electronic system that regulates the construction industry, which could significantly affect the creation of a truly transparent housing construction market, ”says Alexander Panfilov, commercial director of Svitlo Park mini-city.

Related article: Loan for the purchase of an apartment in Ukraine: how much will a mortgage cost in 2019

In addition, prices for apartments and new buildings in Kiev in 2020 will depend on the presence or absence of affordable mortgage programs.

“Without the development of mortgage lending, demand for new housing in 2020 is unlikely to grow. Reducing interest rates on loans by 2-3% can increase existing demand by 8-10%. All these factors will affect the final prices for the buyer. While maintaining the current situation, prices will remain quite stable, and their revision is possible only in case of a sharp rise in price of the construction process itself. Also, do not forget about the quality characteristics of the construction site itself, ”says Vladislav Kononov, managing partner of AVM Development Group.

Experts agree that there will be no sharp rise in price or cheaper prices for apartments in 2020.

What new buildings will be in demand in 2020
Residential complexes in Kiev, which “entered” the market in 2019, will be surrendered in 2022–2023, if they are large-scale – even later. Developers slowed down the pace of construction at the end of 2019 due to the fact that many homebuyers choose the option of investing in new buildings at the initial stage of construction and after the house is commissioned, they resell the apartments. Thus, competition is created for developers. In order to partially eliminate speculators, some developers charge 6-8% of the investment amount at the conclusion of the assignment agreement, or set a fixed amount for payment (10-12 thousand UAH).

What will happen to the prices of apartments and new buildings in Kiev in 2020
In 2020, one of the key trends in the market of new buildings in Kiev will continue – the buyer will give preference to large LCDs, which occupy entire quarters
“Therefore, developers have slightly slowed down their entry into new projects and are bringing them out with a big eye on the market. Many will postpone the release of new projects until the end of 2019 – the beginning of 2020, ”says Roman Savchenko, CEO of UTG Residence.

Related article: Apartment in a new building: how to assess the quality of construction, profitability and risks

The market has announced several lines of large residential complexes that developers have actively begun to commission in 2019. Bogdan Serotyuk, co-owner and partner of InCo home, a real estate investment company, is confident that the buyer of housing in new buildings will give preference to large residential complexes that take entire blocks.

“Demand, at best, will not change. In relation to the objects of single development, it will definitely fall, an exception can only be in respect of houses located in the center. As a result, developers will be more oriented towards the construction of large, closed residential complexes, comparable in size to microdistricts. For example, such LCDs as “Warsaw”, “Fine Town”. The consumer is increasingly shifting the choice in favor of closed residential complexes with advanced infrastructure solutions, when there is a kindergarten, school, social, domestic, medical facilities, public gardens and recreation areas.

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