The Ukrainian real estate market has collapsed. Nobody buys apartments and houses
Against the backdrop of rising housing prices in Europe in 2014, the cost of residential real estate in Ukraine dropped by almost half.
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Housing prices in Europe increased by 2014% in 1,1, and in the European Union by 2,6%, Eurostat reports. In Ukraine, the cost of residential real estate in foreign currency has almost halved - this is the worst and unattainable indicator among all European countries.
According to Global Property Guide research, the European housing market showed strong growth last year. The best result is in Ireland, which managed in 2014, in which prices rose by 16,6%. The Estonian market has grown significantly, where housing prices have risen for the third year in a row, and last year the increase was tenfold: by 16,55% compared to 1,6% in 2013. Sweden also has a high price increase - 8,78%. Even in Turkey, housing prices have risen by 8%.
Ukraine has become, according to Eurostat, the leader in the fall in housing prices. The dollar value of square meters here has dropped by almost half - by almost 49%. “In the fourth quarter of last year alone, prices decreased by 9,7%. The main reason is hyperinflation and the collapse of the national currency,” the report says.
In Russia, prices dropped by 2014% in 6,15 after growing by 5,8% in 2013.
A significant drop in housing costs is also caused, according to experts, by increased emigration from Ukraine, as well as a huge number of refugees, which can reach 1,2 million people.
If we consider that the main wealth of the majority of Ukrainians is the cost of their apartment or house, then the citizens of Ukraine, according to these indicators, became twice as poor in 2014.
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