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Booming Ukraine Property in Kiev & Carpathian Mountains
Real estate news By Homesgofast.com
Sep 13, 2007
Ukrainian website Kiev Weekly has noted in several articles recently the trend of rising prices and what it has done to property investors in the capital city. With prices rising in the city so much, many people are now looking to rent instead of buying. Another factor contributing to the large number of renters is the high interest rate on local mortgages in the Ukraine. Rates in Kiev have been averaging 12-15% in recent months, significantly higher than many other European cities. Certainly one reason for the high rate is the skyrocketing value of property in Kiev.
One local real estate executive, Mykhailo Zhogolev, who is the Director of the Kiev Office of the Real Estate Experts Association of Ukraine, believes that renting is a cheaper option for the average citizen given the high prices and interest rates, noted the Kiev Weekly. While the high prices and interest rates are forcing many to rent instead of purchase, this is providing a good opportunity for investors who are focused on rental income.
International property investors, seeing the increasing value in the market as well as the need for renters, have scooped up many homes and apartments and are making a good return on their investment.
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