Last night the BBCU held a meeting to discuss the current state of the property market in Ukraine.
We heard from experts from DTZ, CBRE and NAI Pickard about the 'Investment Market', 'Residential Market' and 'Office Market'.
Ukraine and in particular Kyiv is experiencing a small but slight increase in property activity.
In commercial, the office and retail sectors have seen a little light at the end of the tunnel, whereas the residential market is barely alive. Its certainly a 'buyers market' now in Ukraine and there are some good deals to be made in residential. (probably for the first time in Ukraine).
However, there are far too many developments in both commercial and residential that are still 'frozen' post crisis. Banks are still not prepared to provide credit to developers or private lenders.
Mortages are only available with a 40% deposit followed by very high interest rates.
The property market in Ukraine still has a heart beat, but its certainly not sprinting down the street like it did during the past five years. Maybe this is a good thing.
I am off to the UK today for 10 days to see how things are progressing. Will keep you informed.