The real estate market of Ukraine is very diverse: apartments in the rural areas are very cheap but in big cities they are extremely overestimated. If the prices will continue to rise, this may lead to a collapse of the bubble with negative consequences for the local population. In the first turn, it refers to the capital of Ukraine – Kiev. Other cities have much more moderate prices.
Lets see what you can get in Odessa. It’s one of the biggest cities of the South of the country and is a resort city, an industrial center and an important port. Odessa is situated on the coast of the Black Sea and plays a vital role in the economy of Ukraine. Its port accepts many ships from all over the world from the countries that trade with Ukraine or other countries from the region. The city is popular among tourists and this fact influences the prices of apartments and hotels, raising them up. From the other hand, investing into real estate of Odessa may become a prudent and profitable action.
So, if you want to buy an apartment to live in the city, Investing in Ukraine you will have to pay 50-70 thousand dollars for 2-rooms apartment depending on the district, sizes and other conditions. The price for 1 square metre vary from $800 to $1700. Many owners rent out their real estate after purchasing it and that brings them big profits.
If you rent out your flat on the daily basis, you can get $40-$60 per day. Luxury apartments can bring as much as $125 daily. Another option is to rebuild your property and make a commercial object. This may save you a lot of money because commercial property, like shops, casinos, pharmacies or offices, costs much more than simple apartments. You will just have to choose a proper location and appropriate apartment of the first floor.
After that you can conduct some repair and rebuilding works and then sell or rent out this real estate as a commercial one at a big price. However, most of the best locations are already occupied in Odessa, so most probably you will have to buy a ready business investing more than $100,000. But the market changes with time and the prices may fall for a short period. Like they say, this may happen in the nearest time in 2013. That may be the best time to invest. In any case, Odessa is a city of possibilities where everyone can earn money if you just make some efforts.