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21-August-2008
Award-winning Property Investment Ticks All the Boxes
Overseas property investment specialist, Obelisk, has a passion for excellence and the company’s determination to offer superior standards and high professionalism at all stages of property investment has reaped its rewards.
Interview with James Gonzalez
Ukraine: Investment Potential 2008
A previously little-known former Soviet Republic, the Ukraine is attracting considerable interest from overseas property investors seeking long term rewards. According to Knight Frank, the Ukraine is one of the most promising property markets in the world and The Independent reports property values rising by a remarkable 600% over the past three years since the ‘velvet revolution' brought democracy to the country. Property investors in the Ukraine will be encouraged to hear that the government supports closer ties with the EU and NATO and, in early 2008, the country became a full member of the World Trade Organisation.
One of Eastern Europe's Fastest Growing Economies
As a further indicator of the expected rapid growth, The Ukrainian Observer reported the opening of a CB Richard Ellis branch in Kiev in early 2008. A spokesman said, "The country is one of Eastern Europe's fastest growing economies and the huge potential for expansion of its real estate market makes it attractive." The Ukraine's economic growth has been strong since 2000, growing by 7.7% annually during the five years between 2003 and 2007. Real disposable income rose by 16.5% in 2007 and by 11.5% in the first half of 2007, according to Ukranian Bank, Ukrsibbank. All these positive figures are expected to create strong demand in both the domestic property market and the market for second homes on the coast.
Ukraine Property Prices
The capital, Kiev, experienced property price rises of 70% during 2006. Property prices in Kiev are now higher than those in Warsaw or Prague. Capital growth is clear and rental yields are also impressive. Average yields in the Ukraine as a whole are as high as 8.8%, with yields in Kiev ranging from 6.9% to 10.2%. The Ukraine has been thriving since it became independent; it has a dynamic economy, an affluent population and a growing tourist industry. With EU membership also on the horizon, all the ingredients of the perfect property investment in Ukraine are in place.
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