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Real Estate Real estate property falling in price
Real Estate Real estate property falling in price
| Real estate property falling in price |
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According to Delo newspaper, research firm Global Property Guide published data on how prices for dwelling property have changed in big cities around the world last year. Over the past year, the most significant reduction in prices of housing is fixed in Riga. Among the countries with the greatest fall in prices, are the United Arab Emirates (almost 50 percents), Estonia (-30.8 percents), Ukraine (-26.6 percents) and Singapore (-24.9 percents). However, there are some markets where housing, despite the global economic crisis, has become more expensive. For example, in Israel for the year prices rose by 8,4 percents, in Switzerland – by 5 percents and in Luxembourg - by 2 percents. According to Mitropa Ukraine company, which specializes in finding objects of foreign real estate, the Ukrainians in the current circumstances are not ready to buy foreign cottages, as it was before the crisis. At the same time, they may be interested in buying a European property to move freely throughout Europe. "EU countries have tightened regulations for issuing visas to Ukrainians, and the purchase of the residence gives the right obtaining a Schengen multi-visa for 180 days a year both for the owner of residential property, and for his whole family" - says Maria Konovalenko, director of Mitropa Ukraine. According to her, the rich prefer to buy residence in France. Director of international real estate agency DEC Property Oleksandr Tarchenko also notes an increase in demand from the Ukrainians for real estate in Germany. According t realtors, Italy, Spain, Cyprus, Turkey and Bulgaria are the countries where the Ukrainians buy property (real estate) often. Crisis completely put the Ukrainians off investing in real estate under construction. According to Maria Konovalenko, buyers who are in strained circumstances, prefer to buy dwelling in the secondary market. |