Buyers to favor purchases of completed housing after crisis, expert says

18:03

Buyers will prefer buying completed housing in the wake of the financial crisis because of their distrust of construction companies, Volodymyr Hermanov, the head of the PR and marketing department in Kyiv-Zhytlo-Invest construction and investment company, has told Interfax-Ukraine.

"Themarketistransforming to a client oriented one. Developers offering completed housing will be the winners after the crisis," he said.

According to Hermanov, today construction companies need to minimize their expenses and direct all funds to completing housing to offer it to buyers as soon as the market stabilizes.

"Prices will fall in 2009. It is worth saying currently any price announced by construction companies is not important, as there are no buyers on the market," he said.

Kyiv-Zhytlo-Invest was founded in 2001. The core business of the group is the design and construction of housing and office buildings, investment in construction, management of projects, commissioning of houses and commercial real estate. The overall area of the company's projects is over 60,000 square meters.

Kyiv-Zhytlo-Invest Group is a member of the Ukrainian Construction Association.