The unfinished buildings: how to recognize and not jump into the mess

The unfinished buildings: how to recognize and not jump into the mess

The real estate market is growing and developing – the formats of residential complexes, areas and apartment finishes are changing, and the buyers themselves are others, and yet the price remains one of the main factors in choosing a home. It happens that the “hot” price hides potential long-term or, worse, unfinished.

“A civilized and clean market is the key to success for developers and the peace of mind of buyers. We have analyzed the housing complexes of the capital to gain an understanding of what stage of development our market is in and what are the dangers of stopping projects and the crisis of confidence that await it. Using open source information and information from the Injured Investor Relief Association, we have identified 66 properties that are in the process of being under construction or unfinished. Despite the fact that every year the dynamics of new developments are slowing down and seemingly there is already a lot of information on the network, 30% of such objects are still selling apartments“ says Oleksandra Gluzdovska, Head of Data Science DC Evolution.

Market analysis allows us to identify a number of features that are often seen as unfinished, so buyer apartments should focus on these details and think carefully before investing in the following projects:

  • In 60% of cases construction stops for legal reasons – so when choosing a future apartment, be sure to check the availability of all necessary permits,
  • The biggest temptation is the low price, the sale of real estate well below market value is very often indicative of a fraud,
  • If an object changes its name over its life cycle one or more times, this is one of the reasons for the warning – such an object could potentially be unfinished.
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