Ukrainians rushed to buy housing for “extra” money

Media: investments of Ukrainians with “extra” money in real estate turned out to be uncontested

The coronavirus pandemic allowed the Ukrainian real estate market to stay afloat, Vesti reports .ua. According to experts, because of COVID-19 and closed borders, Ukrainians have “extra” money, which they rushed to invest in housing.

As the vice-president of the Ukrainian Association of Real Estate Managers Anatoly Topal told the publication real estate turned out to be uncontested for Ukrainians – no one aspires to invest in cryptocurrency, and there is no stock market in the country. Therefore, citizens decided to give their savings to developers.

Founder of the Synergy Investors Club, Konstantin Bravo, in turn, noted that buying housing at the initial stage of construction was not as profitable as before, because the cost of square meters is high and at the pit stage. But Ukrainians still buy apartments for the purpose of subsequent resale, he concluded.

In August of this year, the head of the Crimea, Sergei Aksyonov, said that Ukrainian officials are buying real estate in Crimea, registering it for nominees. According to Aksenov, “many Ukrainian officials” secretly own real estate properties on the peninsula.