According to analysts, real estate will continue to decline throughout 2009
One-bedroom apartments are holding at 80-100 thousand, two-bedroom at 100-120 thousand, three-bedroom at 120-200 thousand. Of course, these prices now seem inflated, as from an apartment not pledged, with the same starting price, one can negotiate a discount of 10-15 thousand dollars. But owners whose apartments are pledged are not inclined to lower prices, as they are constrained by the amount they owe the bank.
In general, Kyiv real estate is becoming cheaper, and this process, according to analysts, will continue throughout 2009. And the most optimistic forecast for the real estate market is the beginning of slow growth by the end of 2009. But it is too early to make any predictions about the final exit from the crisis. Much depends on the general state of the economy and foreign injections, if they ever come. But most likely, banks will not be able to find additional sources of financing – the National Bank is too preoccupied with other issues, the US and Europe have enough of their own problems, and mortgage lending will remain in the same dire state as now. Which again will stimulate price declines.
Analysts claim that if now apartment sales in Kyiv are practically not happening, and the entire market is 'flat', then closer to spring the situation will change. Those who waited for an even greater price drop, having cash on hand, will want to purchase greatly depreciated real estate. And a situation is quite possible where one-bedroom apartments will cost between 20-25 thousand, two-bedroom up to 35 thousand, and three- and four-bedroom up to 50 thousand.