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New giant Residential Complexes: How Kyiv will change in five years and what the apartment prices will be

The cost of apartments will rise, and the Kyiv market will be reoriented to large residential areas of the "new city" format. Photo: archimatika

The cost of apartments will rise, and the Kyiv market will be reoriented to large residential areas of the "new city" format. Photo: archimatika

In the next 3 to 5 years, the foundations of the primary market work will change in Kyiv, resulting in optimizing business processes in development and increasing the quality of new residential complexes.

In particular, the market will be reorienting to large residential areas of the "new city" format, Mykhailo Pidvysotskyi, the founder and managing partner of the group of companies Concept Group, notes in a comment to The Page.

According to him, these will be self-sufficient living spaces integrated into the environment on territories of 10—20 hectares with everything necessary for a comfortable life, work, recreation, and sports.

Such projects, in his opinion, will meet world energy saving standards and will be built using the most modern technologies.

Quote"In new large-scale facilities, the environment will become the dominant feature, and residential buildings, as well as the proper infrastructure for the most comfortable life (including commodious kindergartens, schools, sports, walking areas, and parking lots), will be organically "woven "into the natural environment," Pidvysotskyi emphasizes.

The prime cost of building such facilities may be 30—35% higher than that of the usual comfort-class projects.

By 2025—2027, the share of new large-scale projects in Kyiv may reach 25—30% of the total supply in the primary housing market.

Quote"Under favorable conditions, in the next 5 years, the share of large-scale projects will account for about a third of all housing that will be built in the capital," Pidvysotskyi believes.

At the moment, only 20% of developer companies in Kyiv work according to the new world standards consisting in full cycle development (from designing and constructing to operating constructed residential complexes). In addition, modern developers are increasingly using their own investments, accounting for up to 60% of the project cost, to implement their projects.

Such funds allow building without regard to the state of demand, not depending on force majeure like, for example, pandemic restrictions in 2020—2021, Mykhailo Pidvysotskyi says.

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