Such prognosis is given by a leading consulting company DTZ in area of the real estate.
The volume of real estate capital market attained $12 trln in 2007, that is 18% more than in 2006. This information is published in the annual lecture of DTZ. The volume of investment transactions attained $730 milliards last year, however in 2008 the specialists of DTZ forecast a 30-percent slump to $500 milliards. In the first quarter 2008 the volume of direct transactions was abbreviated as compared to the same period of 2007.
Questioning showed that 62% people, accommodating their facilities into real estate in 2008, expected an increase, and the respondents from Europe, Azia and Pacific ocean region is far optimistic than Americans.On the average, respondents wait for a 4-interest feedback of an income, and investors from the Azia and Pacific ocean region would like to get 10%.
56% investors plan to multiply their position in Asia, and 15%, vice versa, want to be delivered out of the Asia property climate. China becames the most attractive market for investing, at the same time Japan, Australia and Singapore lost in attractiveness to such countries, as Vietnam and Indonesia.
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Mortgage crisis was not reflected in the commercial real estate sale size.
The processes, which occur on the market of housing real estate (decrease of the crediting volumes), recently led to the essential reduction of a quantity of real operations of purchase-sale, UNIANE reports with the reference to the analyst of the company "Ticko-construction" (Kyiv) Olexander Marchenko.
As a result of this the accessibility of the mortgages, which were the basic source of housing real estate purchase, decreased sharply to 70% of operations.
"In other words, despite of the unpredictability and the opacity of our market, this segment has sufficiently steadfast "immunity".
Moreover, the positive dynamics of economic growth in Ukraine gives hope for the subsequent development of the market and, correspondingly, an increase in the demand of the commercial real estate objects, which is to a considerable degree dissatisfied practically in all its segments”, he explained.
According to Marchenko’s data, in office real estate segment the total dissatisfied volume of demand for the professional office accomodations comprises not less than 1 mln. sq. m., whereas the total volume of proposal is about 800 thousand sq. m.
Thus in commercial real estate segment the proposal of professional commercial areas is about 420 thousand sq. m., whereas demand on them is 900 -1000 thousand sq. m.
The company Ukrainian Hotels, which enters the corporation " Astron Ukraina", concluded a contract with the Swiss controlling company Sophos Hotels S.A. The press service of the company reports. This agreement became on-duty step in the realization of the development project in Ukraine of 15 hotel network under the brands of Ramada Encore, Ramada, Ramada Plaza. Project started in November in 2007; after acquisition of rights for openning Ramada network in Ukraine by the corporation "Astron Ukraina" from one of the greatest world hotel operators, company Wyndham Hotel Group.
The company Sophos Hotels S.A appears leading manager in Switzerland and was selected by Wyndham Hotel Group for controlling process of determination of Ramada in East Europe and CIS. On the
The executive director of the company "Ukrainian Hotels", Vladislav Vezhnin, stated: "in the process of selection for its hotel projects the corporation "Astron Ukraina" pays main attention to the quality of work and European reputation of the potential aspirants”. Specifically, after these criteria the Swiss company Sophos Hotels S.A. was selected, the company faces upon the long-standing collaboration after the signing of exclusive agreement, which took place already".
The most favorable scenario for the Ukrainian market of commercial real estate experts of «Foyil Asset Management Ukraine» consider stabilization with the subsequent increase to 5-7% per year for a period of 3-5 years.
“Decisive for the real estate market will become the present autumn, when situation with the crisis of liquidity in the banking sector is discharged a little, Dmitriy Moshkalo considers, the Vice President of «Foyil Asset Management Ukraine». If banks keep on this level until this time, then they will attempt to sell their participation parts to nonresidents. The latter will introduce their capital and there will be the absence of large “lowering” of prices ”.
This scenario is most probable, since banks will not “freeze” capital in the projects, connected with commercial real estate. Therefore with improvement in the situation on the stock market of the Ukraine and liquidity of the financial system the banks will try to leave the stopped projects.
Thus, prices will not be reduced more than to 10-15% and this corridor will remain for the next three years. But as a result of inflation a correction nearly 40% will be observed. The experts of the company «Foyil Asset Management Ukraine» consider this scenario to be most positive version for the Ukrainian financial structures.
In the opinion of «Foyil Asset Management Ukraine» experts the Ukrainian commercial real estate market experiences the sharp shortage of commercial areas.
“This “misalignment” can keep the commercial real estate market out of a sharp drop in the prices, Dmitriy Moshkalo considers, the Vice President of «Foyil Asset Management Ukraine». - But payment for this will be the stagnation of the branch, when the prices will grow in the limits of the indices of inflation”.
Source: agent.ua
At its session the standing committee of Lviv regional council for questions of investment activity and trans-border collaboration examined and agreed on job schedule of commission for the second half-year of 2008.
Commission charged to the main department of town construction, architecture and three-dimensional development of Lviv regional state administration, to develop the ะกoncept of the investment policy of Lviv region of 2009 - 2010 and to put it for the examination of commission with the subsequent carrying out on the session in September.
Deputies heard the information given by Stepana Lukashik, the head of the main town construction department, architecture and three-dimensional development of Lviv regional state administration about the development of the territory planning diagram of Lviv region. Commission decided to turn to the standing committee for questions of budget with the refinement of the indices of the budget of Lviv region and to isolate means for the financing, when the territories planning diagram is fulfilled prior to the end of this year.
Also at the session deputies agreed on methodology benefit of "Recommendations regarding the three-dimensional planning of cities and territories of Lviv region". Benefit is prepared with the help of Nikolai Gabrelya, the editor professor of the town construction department at the institute of the architecture of the National University "Lviv Politekhnika" and the assistance of Joseph Khrom'yak, the head of the commission.
