Short bursts of more than 20 cottage townships, commissioning of which was planned in 2009, will put only a few …

Many developers had to buy before the crisis in the Kiev area plots for construction of cottage townships. Indeed, over the last three years the number of projects in the metropolitan area increased by more than 2 times. However, it seems that most developers have overestimated their financial capabilities. And to the very concept of the cottage community, not all went deliberately. And if at the peak of the real estate market virtually any proposal would have gone under the hammer, in the present context, given that the suburban housing, typically purchased as a non-core, and an additional place of residence, cottage villages, most projects have remained unrealized .

Frost

Unfortunately, due to the lack of an integrated database of cottage towns, Kyiv region, to say exactly how many projects to implement, it was stated as frozen, but how many actually built, no one is taken. For example, according to Victor Kovalenko, director of RealEkspo, as at 10 September this year in Kiev and the region, there were 244 cottage town, at different stages of readiness - from project development, construction and until it is ready. Thus the 162 designed and built towns construction of 80 villages, according to him, is suspended. In turn, Ilya Naroditsky, CEO of Europe, project manager cottage town Olympic Park, notes that if at the end of 2008 in the Kiev region was declared to implement more than 100 cottage villages, but now construction is only 8-10 villages, while in others it is frozen or suspended.

main cause of freezing of projects, according to experts, was the lack of funding - according to various estimates, the demand for houses from the population declined during the crisis in 2 or more times. This project lending in the property market is also absent. Given this, some developers have already put their properties up for sale. I think it is not wrong if I say that 70-80% of the land on which the previously planned development of cottage townships, in one form or another is put up for sale. And at a price much lower than that on which the land was bought, - states Sergey Eliseev, a member of the supervisory board of the company Europe .

In addition, some developers moved the timing of construction of cottage townships at a later time (in fact - have frozen) in the hope of restoring the market after the crisis. In particular, according to Alexander Popov, the director of the project team Arhimatika, frozen construction in those towns, which are located in more than 20 km from Kiev, and in which the area has houses of 250-300 sq. m. Buying a cottage even before the crisis was expensive, since its operation in the monthly average cost of $ 0,5-1 thousand

therefore to find a buyer for this type of housing has always been difficult, and now - almost impossible. The buyer prefers buying an apartment, because it is not only cheaper, but definitely grow in value since the crisis. In addition, if necessary, it can be quicker to sell than a cottage, - says Popov.

One of the few

Thus, according to Vladimir Stepenko, director of marketing, SW Development, due to the prevailing market situation of the country real estate claimed by commissioning the 2009 20-25 cottage townships (or a separate queue for them) completed be 5-10. At the same time, according to Popova, this year scheduled to be put into operation no more than 11 cottage townships. In this case, most likely, one will be ready only 3. Thus, Sergey Eliseev said his company is going in October this year to put into operation the first starting place (99 houses, all in the village are going to build 1,053 houses) in the cottage house of Olympic Park, located in the district of the Makarovskyy Kiev region. Completed by the end of 2009 construction of the first cottage town Severinovka (156 houses, total - 326 houses) in the same area is going to OOO Dio groups. Furthermore, Ltd. Infinity, serving the customer and investor of the construction of the cottage community Sun City (Kiev Svyatoshinsky rn), scheduled for November commissioning of 18 townhouses a total area of 3.1 sq m (total number of townhouses in the village - 115).

Price vicissitudes

As noted by Catherine Starunskaya, PR-director of developer company DeVizhn, in the absence of effective demand in the market, most developers are ready to reduce prices for cottages. Some of them - in 2 times or more. For example, according to Mr. Kovalenko, when in October 2008, the average cost of 1 square meter in the cottage house was about $ 2 thousand, as at 10 September of this year - $ 1.4 thousand, ie price fell by about 30%. In this case, according to experts, major declines have occurred in autumn last year, whereas in the current year rate of decline has slowed down the value of detached houses, and in some towns fall stopped altogether. In particular, according to company Knight Frank, from January to September 2009 reduced the average prices for housing in the Kiev region was only 20.3% of houses in a segment of elites, 8,7% - in a segment of economy and 2,5% - in a segment of business. Thus, according to Yaroslavy Chapko, General Director of OOO Knight Frank in town economy-class area of 200-250 sq ft cottage on 8.12 hectare site can be purchased for $ 180-250 thousand, business-class - for $ 250-500 thousand, while the elite residences are offered at $ 0,5-5 million

However, some market players say that the spring of 2009 the developers took to the minimum level of profitability, and opportunities to reduce prices even more they do not have any. In fact, almost all developers are on the border of the cost, and prices continue to fall nowhere - persuades Elisha.

Express the price bottom of developers
triggered, most likely, a revival of buyers, which began to occur in the suburban real estate market exactly at the end of August. In particular, according to developers, has increased the number of requests and hits on the market. The majority of buyers are interested in ready-made houses with connected utilities. And they are known, the market is not so much as before the crisis, the majority of buyers bought at the stage of homeownership section of the project.

Expectations

single opinion about the behavior of the market of cottage building in the future among market participants, of course not, because the deciding factors, they said, will be the hryvnia exchange rate and the general economic situation in the country. However, almost all players are unanimous in that the demand for suburban housing after a crisis will again. Moreover, they do not exclude the likelihood of shortages in the marketplace. In general, people are willing to buy houses in towns, which continue to build and develop, but still waiting. I think we will see some recovery this fall. But in the spring of 2010, after the presidential election, we expect significant growth market. This demand is largely fueled by lack of quality proposals , - considers Naroditsky.

market saturation cottage real estate is not expected to be at least another three years - agrees with her colleague, Ms. Starunskaya. At the same time, she believes that even in conditions of unsaturation best able to earn those companies that will bring to market high-quality, balanced product at reasonable prices.

According to Popov, the option for developers who have the concept of cottage townships, mildly speaking, a failure may be except that its revision, and then only if the concept under development. If the cottages were built, one of the options, for example, for houses with a large area - the creation of a cottage, roughly speaking, two. That is, townhouse or duplex. Also, the maximum yield could be lower prices for houses - even to the level of costs , - thinks Alexander Popov.

Regarding settlements located at a distance of 30-40 km from the city and not having the necessary communication, then, according to experts, an outlet for their owners is one - to freeze the project until better times, because the investment to find or sell such projects in the current unrealistic conditions.

Tatiana Stojko

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