What are the most important events have taken place at the capital market of dwelling in the passing year? And what is in store for us in 2008 year?

Summing up what have been done before and making plans for future are supposed to do under New Year. That’s why we traditionally asked competent experts questions which are interesting for many people now.

Vasiliy Prisyazshnyuk, the main architect of Kiev: - In my opinion, the situation at the capital market of dwelling in 2007 was quite predictable, there weren’t any surprises. So, the rise of prices at the primary market could be predictable, as the cost price of the building constantly increased. Nevertheless , in spite of all difficulties, where the political situation in city and country played not the last part, we managed to enlarge the number of dwelling. This increase is 200 thousand of square meters, that is quite many even in the scale of Kiev. For today, we have foregrounds to think that next year the speed of building of dwelling won’t be less, but even larger. The number of projects, which were discussed at the building council during the year, is the evidence of that. Unfortunately, for the present time it’s early to say about fall of prices on the dwelling. It’ll be possible to reduce the prices only when the market of dwelling is sated. Meanwhile, now we have at an average about 21 square meters for person, but we need not less than 27-30square meters. Evgeniy Lishanskiy, Honored architect of Ukraine, the professor of International Academy of Architecture: - In my opinion, the signal event of 2007 year was the ratification of the plan of building of 150 hectares on Osokorky. It’s planed here to build more than 2,6 millions square meters of dwelling (practically it’s a half of Obolon). The importance of this event is explained by the fact that this territory is the last large plot in the city, which is set for the building according to the General Plan of the development of Kiev to 2020year. The capital doesn’t have any other reserves. Now the plots can be vacant only at the expense of the destruction of old buildings. Naturally, that the land become а deficiency. So, we can speak about new stage in the development of the capital. That’s why we can’t hope for fall of prices. Andrey Pashenko, the architect, the member of the capital building council : - Judging by the projects which are considered on the council, we can remark, that demands concerning the quality of the dwelling in Kiev - the lay-out of the flats, architectural decision of the facades, view of the territories near the building – have increased. I think that in future it’ll be the important factor which influences on the capital market of dwelling. Alexander Bondarenko, the president of the Association of specialists of real estate of Ukraine: - Undoubtedly, the main event of the 2007 year was the stagnation of the market of dwelling of Kiev. As a result, the prices on the dwelling in the capital mounted to its psychological maximum. It means that clients, private investors don’t consider it any more well-founded. But, in spite of that, present prices will hardly change in the nearest perspective. Cardinal changes are possible only by increase of dwelling’s building volumes. But, unfortunately we don’t have well thought-out state policy, turned to the creation of the favorable conditions for the development of dwelling buildings in the country. It’s necessary, urgently to pass a number of laws, to make dwelling for our citizens more reasonable. Aleksey Kotenko, executive director of the real estate agency “Obolon Planet”: - In general the market of dwelling was rather passive. In that situation the operators of market had to change their attitude to the questions of the quality of given services. It’s a concern of builders, and realtors, and bankers. Now, namely the quality of service is the most important factor. And this tendency will be stronger next year. And such companies where people have another opinion won’t be able to work for a long time at the market. Maxim Burtovoy, the director of the centre of mortgage crediting of Creditprombank: - In 2007 the market of real estate and closely connected with it mortgage market have demonstrated the indications of stagnation. The great influence on it made political events in the country, and such circumstance, that in 2005-2006 the market was overheated. In bank sector the percent rates on mortgage credits in national currency have changed. As for the perspectives on dwelling mortgage next year, it’s hardly to believe that percent rates can be reduced. If such is happen only on a few points. Although the competition between banks become stronger, the main accent in the struggle for the client  of finance establishment will be done on the increase of the quality of  service.