Posted by Jon on April 26, 2002 at 06:07:12:
In Reply to: Real estate posted by Bob on April 26, 2002 at 03:51:57:
I used to work for the international real estate company DTZ, based in Kiev. I have also worked in Bucharest Romania, and therefore have a good understanding of the state of the property market in the region.
I personally would think very carefully before buying property in Ukraine. There are many aspects about the market that put me off buying outright. It is a very illiquid and opaque market. There is not the transparancy that is normally found in developed countries such as the UK, US or Australia. This is not a mature market, as it has only been in existance since independance.
I have carried out a number of valuations for clients in both Ukraine and Romania, and it is very difficult to obtain accurate comparable sales evidence to put a value on a property. Agents are not regulated - they will take a commission from both sides if they can!
On the other hand there are positive aspects - you can pick up a cottage in the countryside with a wood and a stream for a thousand dollars! (It will have no gas, toilet or running water though!) If you are spending an extended period in Ukraine - 2 years+, then I would think it worth buying something perhaps.
What do you want to buy, and why?
A flat in Kiev? If so, investigate carefully the state of the common parts of the building - internal stairwell, roof etc. If the roof leaks who will fix it? Zhek? Have they got the money to fix it properly? Probably not.
Unless you buy a flat in a building that has been completely refurbished or newly built (not many around. expensive) - you will have this issue to contend with.
Let me know what you are considering purchasing and why. I'll give you a few pointers / issues to consider.
: Hi does anyone have any info on how to purchase real estate in ukraine or know of a www site (in english) where i could browse and see what may be available
: Thanks
FROM THE WEBMASTER - post only travel-related msgs. Report abuse here.
POSTS CONTAINING NEGATIVE COMMENTS ABOUT OTHER BOARD CONTRIBUTORS
AND OTHER NON-TRAVEL INFO WILL BE DELETED
EVEN IF PART OF YOUR NOTE CONTAINS USEFUL INFORMATION.
PLEASE DO NOT PROVOKE AND REFRAIN FROM RESPONDING TO PROVOCATION.