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The earth rose to heaven

For the first quarter, in the most popular settlements of the Kiev region, land has doubled in price.

According to the consulting company SV Development, the maximum price increase was recorded in Vyshgorod – the land went up by 182%, to $ 10.6 thousand per one hundred square meters. Vladimir Stepenko, Marketing Director of SV Development, notes that Kiev-Svyatoshinsky is still the most expensive area in the region, but Obukhov is actively advancing on his heels. According to the results of three months, the highest price was recorded in the Obukhov direction in the village of Kozin – $ 15.3 thousand per one hundred square meters (growth for the quarter was 74%). Irpen was not much behind Kozin, where one hundred square meters of land now costs 15.2 thousand (an increase of 98%). According to Mr. Stepenko, in the first half of the second quarter, an increase in the cost of land by another 10-12% is expected.

Players identify several reasons for the increase in land prices in the Kiev region. The key is rush demand. “Land is a limited resource that cannot be replenished,” says Andriy Koshil, president of the Land Union of Ukraine association. Moreover, according to experts, demand is growing due to an increase in speculative capital in the land market. “More than 50% of transactions are speculative,” notes Vladimir Stepenko. As “i” was explained by the adviser to the president of the Association of Ukrainian Banks Aleksey Kushch, the land market is more attractive than the real estate market and especially bank deposits. As “i” already wrote, in 2006 the land in the region went up by an average of 100%, housing in the primary market – by 30-35%, and in the secondary – by 70%. “We recorded people who own more than 100 plots,” says Andrei Kobrinsky, Director General of the Center for State Land Cadastre. At the same time, Mr. Koshil is sure that it is difficult to clearly distinguish between speculators and investors. “Because of the complexity of obtaining permits, people sell land without realizing the project,” the expert says.

Another reason for the unhealthy excitement in the land market, experts call a tightening of the moratorium on the sale of agricultural land. If earlier market participants could purchase agricultural land and change its purpose for $ 300-500 per one hundred square meters, then since the beginning of the year this operation has become more risky. Accordingly, land with a designated purpose for construction began to be more popular. However, Mr. Stepenko predicts that in the second quarter of this year, the moratorium factor will decrease significantly, as players adapt shadow schemes to the new rules of the game.

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