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'Buyers' market' formed on Kyiv's real estate market in 2021 – association

KYIV. Sept 14 (Interfax-Ukraine) – Buyers form 60% of demand for real estate services in Kyiv in 2021, head of the Kyiv city branch of the Association of Real Estate Specialists (Realtors) of Ukraine Olena Haidamakha has told Interfax-Ukraine.

"At the beginning of the year, it was possible to talk about a certain balance in real estate services on the part of sellers and buyers. However, since mid-April it became clear that this year, due to a temporary reduction in supply and the launch of the Affordable Mortgage 7% program, the services of realtors are used more by buyers than sellers," Haidamakha said.

She said that as of early September, more than 60% of requests to realtors in Kyiv relate to the purchase/sale of small apartments with an area of 35-50 square meters in well-located Soviet buildings. About 20% give requests for private houses and land plots in the nearest suburb of Kyiv (at a distance of 10-15 km from Kyiv); 15% – objects of the primary housing market of Kyiv and its suburbs (mainly comfort + and business classes), and about 5% – elite real estate.

"Demand for certain services of professional real estate specialists depends on demand for a certain type of real estate. Therefore, in 2021, the work of professional realtors was mainly focused on the purchase or sale of one or two-room apartments," the expert said.

At the same time, she predicts that in 2022 the trend of high demand for real estate services among real estate buyers may continue.

"Demand for housing in the Ukrainian capital exceeds supply, because in fact there are no other effective ways to preserve and increase the fortune. This trend will be observed in 2022: buyers will form the market of real estate services," Haidamakha said.

The Association of Real Estate Specialists (Realtors) of Ukraine, established in 1995, is the country’s leading profile public organization, uniting representatives from 25 regions of the country in 32 cities. To date, the union members are already more than 2,000 professional realtors, and branches are open in almost all regions of Ukraine.