Real estate market in Krasnodar region expected to increase by 60% in 2008
Prices in real estate market in Krasnodar region are expected to rise on average by 40-60% in 2008, yuga.ru reports. According to Igor Luchkov, the director of the department for assessment and analytical studies of Becar Commercial Property SPb, many major developers announced their intentions to engage in real estate construction in Krasnodar region.
According to specialists, the high growth rates in Sochi and the rapid reduction of the gap with Moscow increased dramatically the investment attractiveness of the resort real estate in Krasnodar territory in general.
Thus, specialists of Modus Investment Construction Company consider the real estate market of Gelendzhik, which is the second city in investment attractiveness in Black Sea coast, has the best prospects.
Real estate specialists predict, the Sochi market will stabilize in 2008, while maintaining the positive dynamics of growth that will be about 3-3.5% per month. The situation in Gelendzhik is much better, the average monthly real estate price growth will be higher and total 4.5-5% per month in 2008.
Having examined the Krasnodar region market, a lot of experts consider investments into Gelendzhik at this moment are facing high profitability. “In 2008, a sharp rise in real estate prices in Gelendzhik will be caused by several factors at once,” says Modus Director Yuri Nikitenko. “This year, a new modern airport is expected to be put into operation in the city, and as early as in 2009 it will host international flights.”
Analysts stress the interest of business and private investors in Black Sea coast has been steadily growing.
18:13 04/29/2008
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