|Last Updated: Jan 8, 2007|
|KIEV1 - Apartments||COST (€)||YIELD (p.a.)||PRICE/SQ.M. (€)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|50 sq. m.||129,400||1,100||10.20%||2,588||22|
|80 sq. m.||220,500||1,880||10.23%||2,756||23.5.0|
|120 sq. m.||336,805||2,550||9.09%||2,807||21.25|
|150 sq. m.||495,600||2,870||6.95%||3,304||19.13|
|180 sq. m.||575,800||3,600||7.50%||3,199||20|
| 1 Kiev has informal historical neighbourhoods, although it is formally divided into 10 raions/districts. Khreshchatik, Podil, and Pechersk are the most expensive residential areas. Lypky, Zvirynets, Koncha-Zaspa are also popular.
Source: Global Property Guide
Yields in Ukraine are high at 8.8% on the average. By Global Property Guide estimates, yields in Kiev range from 6.9% - 10.2%. The average price per square metre (sq. m) of apartments is around €2,930.
"In the majority of cases people invest their money in apartments being built exclusively for further sale and resale to turn a profit, rather than to live in them," says Serhiy Zakharin of the Institute of Economics and Forecasting at the national Academy of Sciences.
The beginning of the real estate boom coincided with the stabilization of the currency. Zakharin suspects that there is a "currency turn" to be made out of buying new property in local currency, and reselling in dollars.