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10:37
AVERAGE PRICE OF ELITE HOUSING IN KYIV 10.5% DOWN IN H1, 2009

Kyiv, July 29 (Interfax-Ukraine) – The average price of elite housing in Kyiv in the first half of 2009 fell by 10.5%, to $6,139 per square meter, while in June the price grew by 0.5% compared to May, according to a press release of Park Lane real estate agency, which is part of the First Realty Group (both based in Kyiv).

According to the Park Lane analytical center, the lowest price of elite housing in June was $4,406 per square meter, and the highest price was $10,350 per square meter.

According to Park Lane Director General Halyna Melnykova, the price of elite housing in Kyiv has not significantly changed compared to the pre-crisis level.

"We can see a 20% fall in prices only on some objects. Currently we are observing a growing interest in elite housing. According to our forecasts, the interest will grow in autumn. Taking into account everything mentioned above, the price of individual flats is likely to grow by 3-5% by the end of the year," Melnykova said.

According to Park Lane, 2,443 flats have been analyzed, which is 20% of the whole elite housing segment in demand from clients.

First Realty Group includes the Park Lane real estate agency and Blagovest real estate agency.

Park Lane real estate agency was created in 2006 and has four branches in Kyiv employing over 400 realtors.

Blagovest real estate agency was founded in 1993. Currently it includes nine branches in Kyiv and has 760 employees.

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