10/12/2021
The ghost of the crisis
Some experts and insiders have already begun to compare the current situation in the real estate market with what happened in 2008, when the “bubble” burst with a big crash, not only in Ukraine, but all over the world.
In particular, both then and now there was a rapid rise in prices for building materials. And when the global financial crisis hit in 2008, the cost of apartments increased, and the demand for them fell. As a result, the entire industry went into a steep dive.
However, experts doubt that the history of 2008 will repeat itself in the near future.
At the same time, Sergei Kostetskiy does not exclude a short jump in prices on the primary market due to the rise in energy prices, a further increase in the "minimum wage", as well as political factors.
“Today and in 2008 the situation is completely different,” says Aleksey Koval. - At that time, most of the demand was represented by buyers with credit funds. They were willing to pay more because they spent money from the banks. This contributed to the overheating of the market. When the banks were unable to fund the deals further, there was a failure. ”
He explained that now the share of loans is insignificant in the total amount of funds that people invest in real estate: “Basically, buyers first collect money, and then invest it in the purchase of apartments. This makes the rate of price growth not as high as in 2008, but allows the market to develop more steadily ”.
Well, it remains to believe in the best. However, it should be remembered that crises occur in our country from time to time. By and large, the history of Ukraine is the history of crises.
Yes, and not everything is calm in the world - according to the most pessimistic forecasts, the global crisis may begin in the near future. And, if this happens, it will not seem enough to anyone and nothing. Including the real estate market.
