The change of power in the country has certainly affected the real estate market. Deputies managed to adopt several long-awaited bills for the market; The shareholding, which has been fought for more than one year, will finally be completely abolished in 2021. A transition period of 2% and 4% will be set for 2020 for residential and non-residential buildings respectively. Finally, the investment tax will go into the past. But the price reduction is not to be expected: the released budget is likely to be aimed at improving the quality of the product, in addition, developers will try to maximize the profitability, which has fallen sharply, in the comments of the portal Capital real estate said Andrey Ryzhikov, CE and managing partner of DC Evolution.
You can quite positively evaluate the launch of the electronic cabinet of the developer (customer). Yes, there is still work to be done, but the main thing is that this service will minimize the arbitrariness of the officials and will allow to bring projects to the market with less corruption load, which in one way or another will be reflected in the future buyer faster.
There is an active work on the register of property rights to real estate. On the one hand, it will eliminate double sales, reduce the risks of creating another pyramid. On the other hand, another new registry is very often a corruption component. And its effectiveness will depend on how well the law will write out the administration of this registry.
The depreciation of the dollar froze the real estate market – not completely, but quite noticeably. The cost of construction in hryvnia has not fallen, and the purchasing power has remained at the same level. Accordingly, developers’ dollar budgets are already bursting at the seams. And most interestingly, when the dollar starts to rise, we will see another rise in the price of the residential real estate market.