Hi just returned home..Back too the UK ta visit my friends and family........Great ta be back..But life in Kiev is fantasic....Like a prolonged holiday it never ends....I have a nice 2 bed roomed apartment a great girlfriend and a steady income thanks too my business in the UK.....looking at buying a house over here ..Many are half completed and people have run out of money so these property's are put up for sale.....If you have a few thousand ..Well say £10000-£150000 you will get an amazing pad 10 mins from KIEV...Sell your pad and come over here...Ukraine has it all. 15 YEARS A VETERAN.........
Good work Tintin. Are there any websites showing these cheap, half completed homes? How much would a decent (liveable) 1-2 bedroom apartment near the centre of Kiev cost in your experience? How much is your rent (if you don't mind me asking) for a place with 2 bedrooms?
very true TINTIN!!! I had put my apartment up for sale (on left bank, near Slavutych hotel) for $85,000. Had decent interest in it as
it is full western standard. But I had an American adoption agency rent it for minimum 6 months for 800/mo!!!!
This development caused me to look again at the local real estate market. There are some fabulous deals to be had at several price levels, but in particularly, the mid price range, from $150,000-500,000 both in apartments and houses. If you want a really nice house there are several of them in the 170sq meter to 300 sq meter (3000 s.f.) for less than $300,000 and if you are handy and want a "starter investment" there are one and 2 room apartments 30 minutes from the center that can be bought from the mid $40s
If you have a stable source of passive income of even 1 or $2,000/mo you can live well, even in Kiev.
Have you got any links to those $40,000-$50,000 apartment ads Rick? What are the body corporate/costs on owning an apartment like in Kiev? In Australia the costs of owning an apartment is often similar to the cost of renting an apartment.
Since first going all round south Eastern Europe some years back, I have always wanted to live there, although Ukraine would not be my first choice. Moving abroad to a country you love where your savings will go much further, giving you a higher standard of living, is a fascinating possibility. An adequate source of income from one's home country would be required - if that's possible, sufficient savings, or work opportunities in your chosen country (probably not many compared to the more economically advanced countries).
I've just been looking at some property websites in Kiev and Odessa. Prices vary massively, with some houses and even apartments in the city centres running into several million US Dollars! Whereas small detached cottages in very rural areas can be only a few thousand. These links won't work upon any sales, and remember to remove any spaces in the links, but here are just three examples of what seem to be good value:
http://www.uaproperty.com/property_1533.html (Needs completing, but only $60,000/£39,360 for a four bedroomed detached house, 262 sq. m., 12 km from Kiev. Definitely needs some plants in the 'garden'!)
http://realty-odessa.com/objects/kach_13785/ (Small apartment in a courtyard in old part of central Odessa, 60 sq. m., $80,000/£52,000 negotiable.
http://www.allstarkievrealty.com/en/house-sale-kiev/code-15 40.html (I like this. Detached 4 bedroomed house in a wooded area, 240 sq. m., in Kiev, $385/£248,000.
Thanks Juffles. I have often wondered if the prices on these English language sites are inflated and that an Ukrainian in Odessa could get that apartment for $60,000 or something and not $80,000. Any estimate as to what the running costs would be for a place like that?
Try Dom.ria.ua
It is in Russian so you will have to use google translater.
My main concern with buying property in Ukrain is a "Hostile Takeover". It happens all the time over there. Someone with money decides they would like your property or business and pays to have some phony documents drawn up and makes a couple of bribes to the proper officials. Shortly there after you are phyisically thrown out of your own place. Ukraine now ranks below Nigeria on the list of most corrupt countries.
Hostile takeovers sound dodgy. So I am probably better off renting in Ukraine and investing in Bulgarian or Romanian real estate. Dodgy women and dodgy real estate in Ukraine eh?
To second the comment above, be warned that in Ukraine, the theft of real estate is a recognized problem.
This may seem bizarre to those of us who live in countries where rule of law is comparatively strong -- how can somebody steal land, or a house? But in Ukraine, they can, and they do.
I learned on this very forum that within the past year or two, a functioning hotel was stolen in this manner!
I don't have data on how common such theft is. It's my impression that real estate thieves target (as one might expect) particularly valuable/desirable properties, for example apartments in highly-sought locations. So perhaps it's some protection to find a place in a drab section of Kyiv's left bank, far from any metro station.
According to what I've been told about how this works, you could come home to find that your locks have been changed, with a court order (duly purchased from a real Ukrainian court) stating that some previous transfer of title (possibly a century ago, if the house is historic) was not properly documented, so YOUR title is void. Your furniture, clothes, and other effects are still in the house? Tough luck, you won't see them again.
If you're a big Ukrainian guy, I suppose the logical thing to do is to maintain a generous cash flow to your own judges, so your real estate can be protected from such seizure.
WTF, I don't know if these sites that are in English quote higher prices, but it's easy to find out: do a Google search in Russian - to get the sites aimed at locals - and then click on 'Translate this page'. (First go to 'translate.google.com', to get the accurate words for 'property for sale in Kiev', for example.) There are many websites giving good information and advice for buying property abroad.
Concerning running costs, I am not the best person to advise, as I've never bought abroad, but there are a few members on this forum who actually live in Ukraine, so they should know precisely. I expect upkeep costs are very low, but I think your main additional charges would be the search, the legal and agent's costs, and various taxes.
If you do have a serious interest, I can't emphasise strongly enough the necessity for SPECIALIST LOCAL ADVICE from a REPUTABLE solicitor, tax consultant, and surveyor. Every country has different laws, and if you get things wrong, it could really cost you. But many, many people successfully buy abroad, and if you do it properly and legally, and do all the necessary thorough research, I wouldn't let anyone deter me, as most big steps in life involve risk. Could also be a good babe magnet! For quick access from airports, low maintenance and easier resale, I would go for something low risk: small, fairly cheap, VERY central, and in a good area. (Mobsters will not be interested in some $80,000 apartment.) Regarding tax, you will need to consider taxes upon purchase (stamp duty), sale (capital gains), and letting (VAT and Income Tax). Also, don't overlook inheritance laws.
Doing a very quick search, here is just one site that gives some useful info:
http://www.globalpropertyguide.com/Europe/Ukraine (Note that this site warns about corruption and weak property rights, but gives some advantages too.)
I am glad there is not as much theft in Sumy since prices are low to begin with. My wife is going over soon to find us an apartment. hers is just to small to be comfortable and the location kinda sucks.
Hi guys - been a long time since I was on here
Been in Kiev for 3 months - spent an amazing month on Black Sea and back to boring New Zealand next week
Some good sites for Real Estate - all in Russian
http://dom.ria.ua/ this is the best in my book. Learn how to work the search engine and its real good
Also - there is a law change taking affect next month that make procuring Real Estate with cash near on impossible.
I don't know the full in's and out's - but the prediction is that prices could drop 10 - 15%
There is a buying frenzy (hard to see it happening looking at prices and sale time frames) apparently brought about by those getting in with "black $$" before the law comes into force
So - I would set on hands prob til early 2014 and just monitor listings and see what happens.
Rick
Didn't realize that was actually a Hotel.
So is your apartment 1 or 2 brm ?
$800 is good return for an 80K invest. Well done.
Can I ask please, how you get on with Visa - are you following the 90 day stay or are you on a work visa etc
Bare land prices or old Dacha sites that you would demolish are very good buying too.
Mind you I and talking 40-60ks out of Kiev.
Have spent a bit of time in a big building depot close to us http://www.epicentrk.com.ua/eng/index.php
Building product prices are amazing compared to what we have to pay back home. And of course labor cost here is extremely low.
Trying to talk the wife into buying a plot and building.
JonEwad wrote: "My main concern with buying property in Ukrain is a "Hostile Takeover"
This is not as common as you may think. It was more common during the 90s but is a rarity now.
when it does happen its usually "turf wars" and/or involves high profile properties. The scenario often involves forcing someone
to sign over property rights at the point of a gun or kidnapping them and holding them hostage until they agree to "give" you the property.
Properties under a million bucks are basically immune to this.
Real Estate is another of the things subject to the "2 tier" pricing system,lol Many english web sites have higher prices than on russian/ukrainian language only sites.
I can’t see spending that much on an apartment,,, and I don‘t care where it‘s located. To me,,,,, apartments are just one step up from a tent city!! Lol
Write, these prices don't seem that great to me. I had a 200 sqm house on 2.5 acres on the river with a pool house, covered seperated patio, my own deep water paved boat launch, a 30 x 40 sq ft shop, a 16X32 kennel, a 40 x 36 x 15 ft high boat and rv car put, a double regular car port, and paid $125,000 right here, outside of new Orleans....