Situation on housing market in 2014 will depend on the state | Bedford Hills NY Homes

The real estate market of Ukraine in 2014 will be largely influenced by the state, according to experts polled by Interfax-Ukraine.

“One of the threats to the property market is the draft law initiated by Omelchenko [bill No. 3757-1 of Regions Party MP Valeriy Omelchenko], which foresees the introduction of a 15-17% tax on the sale and purchase of real estate: if it is adopted – it worth expecting the total collapse of the market,” the vice president of the Association of Professional Property Managers, Anatoliy Topal, said.

Another threatening factor for the primary housing market, according to him, is a high increase in the price of construction materials.

According to the head of the Union of Realtors of Ukraine, Oleksiy Rubanov, the main risk to the real estate market development is a lack of liquidity of households.

“As for prices, activity, the situation in 2014 will slightly differ from 2013. Depressive mood will be observed on the market in 2014 and in 2015,” he said.

In addition, the experts noted a peculiar record set by the real estate market in the past year: the number of transactions on the primary market during this period exceeded the number of deals on the secondary housing market.

“People, who are able to buy, prefer to buy housing on the primary market due to the fact that developers offer loyalty programs, installment payments, favorable loans, interesting price offers,” said Rubanov.

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