The situation on the real estate market in Sevastopol: Rising prices and the impossibility of fully completing the transaction
Sevastopol, July 18 (Navigator, Olga Nikolaeva) – Real estate specialists note a significant increase in the number of Russians from the mainland wanting to buy apartments in Sevastopol, despite a 40-50% increase in prices. However, it is not possible to formalize the purchase and sale due to the incomplete Russian registry.
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As Navigator’s interlocutors, realtors from city Academy of Sciences, noted, interest in Sevastopol housing intensified immediately after the February events.
“We are talking about an increase in the number of buyers. Mostly, the buyers are Russians. Today, the market price of 1 sq.m of housing is about 1,5 thousand dollars, which is 40% higher than the cost before the annexation of Crimea,” said sales specialist at the Infoservice Academy Kirill Savitsky.
“Many purchases were made in March, now prices have risen to 50%, and a price plateau has been established. Cost of 1 sq. m of housing - 2 thousand dollars, despite the fact that last year this price was 990-980 dollars per sq. m. m,” says Sergei Vladov, real estate valuation specialist at the Multidom Academy of Sciences.
In addition, he predicts a housing shortage and an increase in prices on the market due to the moratorium on construction, “this means that new housing will not be built.” According to him, despite the fact that 75% of construction projects received permission for construction work, all apartments in unfinished buildings have long been sold.
Elena Chesnokova, a specialist at the Sevastopol Academy of Sciences “Admiral-Crimea”, also explains the lull in design as a moratorium on construction. In addition, it is not possible to fully formalize the purchase and sale, since the real estate register is not yet fully operational, and not everyone has received cadastral passports for apartments.
Therefore, ANs practice concluding a preliminary purchase and sale agreement. Buyers formalize the transaction, paying the seller 95-100% of the cost, and receive a general power of attorney for the property. The new owner can move in and live in the apartment, but can register it only after receiving a cadastral passport and registering the apartment in the Russian register.
In this case, the buyer bears the risks. Again, due to the blocking of Ukrainian registers, an apartment can be checked for the presence of a seizure or a ban on alienation only upon a written request to the Ukrainian departments. However, according to realtors, buyers go to all these lengths, thus trying to “fix” real estate prices, expecting a new wave of price growth.
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