Posted by Mrs Greenspan on August 29, 2005 at 00:50:43:
In Reply to: Buy Ukraine Real Estate-to do or not to do? posted by MrGreenspan on August 28, 2005 at 22:19:38:
It's a rapidly rising market in Ukraine.
Yes there is some short term gain.
Depends what you want to do with real estate.
You always have to make one decision when considering real estate for investment.
1. Are you a punter (short term investor)
or
2. A sitter (long term investor)
Either way you can make money. Many expats are getting into apartments as the returns are big (compared to a lot of western economies) at the current time. The conditions operated under in Ukraine at the present time will not last long though.
From next year (after the elections in March) Ukraine will see the introduction of many measures that will change forever the way people live.
More than likely in the next 1-5 years there will be property tax, personal tax and just about every other tax governments can dream of following this.
The first net the government will cast will trap those that are easy to reach. Property owners, business owners etc.
Slowly but surely the government will reign in those that operate in the "black" economy and this will include real estate owners.
Eventually real estate in Ukraine will look like any real estate found in the West.
Can you make money in Ukarine...short answer is yes. However you have to be very careful in getting the right title etc. It pays to get a very good lawyer working on your side.
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