Some developers can freeze the project or to withdraw completely from the market
Quarantine in Ukraine has lasted almost three months
and during this time many areas have undergone many changes. Impact of the pandemic on the Ukrainian real estate market: construction has been halted and the demand for housing fell by more than 50%. Why after quarantine will be even more protracted – it is all about in the author’s article on the website Today.
On the background of the quarantine was discontinued for more than 70% of the buildings. While it is difficult to say whether all of them to resume the work and whether it will lead to the emergence of even more protracted in the country.
CEO and managing partner of the development company DC Evolution Andrey Ryzhikov
noted that, according to their estimates, in Kiev stopped about 20-30% of building sites — mostly those that were built at the expense of borrowed money and do not have significant financial resources.
“Purchasing power will be restored, but due to the fact that property – goods not the first necessity after quarantine until the end of the year some companies will have problems with revenues and liquidity. Accordingly, some of them may make the decision to freeze projects or complete exit from the market. Therefore, we will observe the growth of frozen objects, which the following year can acquire the status of long-term construction. It will not be a mass trend, but they will appear,” said Ryzhikov.