Firstly, nature is picturesque, cozy and serene. Secondly, the healing climate for which the peninsula is famous. No wonder Crimea was once a favorite vacation spot for Russian nobles and the royal family. During the Soviet years, Crimea turned into an all-Union health resort and a place of rest for the ruling elite.
According to Nikolay Lutsenko, director of the Absolut Crimea real estate agency, high-quality real estate appeared in Crimea during the Soviet Union: in the area of Bolshaya Yalta and Alushta there were departmental health resorts that were built by the Yugoslavs and Czechs, and already at that time corresponded to the European level of quality. However, Ruslan Ostapenko, CEO of the Peninsula agency, on the contrary, believes that the market of modern high-quality real estate in Crimea is just emerging and has a spontaneous, point-based character.
Getting to know the quality
The construction boom typical for the resorts of Crimea in 1999-2004 brought nothing but price increases. Competition among developers was determined by the degree of proximity to the government, and the volume of construction was determined by the principle of "who did not have time, he was late." The facilities built during this period can be divided into two categories – those that were built for themselves, and those that were built with the aim of maximizing earnings.
In the first case, you can find several very decent and high-quality facilities, but their cost in the secondary housing market is incredibly high. In the second case, there is no need to talk about quality at all. After 2005, the first signs of relatively high-quality construction began to appear on the market. Large Ukrainian and international companies began to invest in Crimea, and the private construction market gradually declined.
If before 2005 quality could be found only in private houses and villas, now the market of modern apartments has become quite acceptable. Unlike world practice, seasonal apartments are not rented "turnkey", ready to move in and have a comfortable rest. Most often, as with the purchase of new buildings in Moscow, the buyer can get them in a state "for finishing". Given how intensively the owners of resort housing visit Crimea, you need to be prepared for the fact that even 7-8 years after putting the house into operation, repairs in neighboring apartments may continue.
Green light
Today, foreigners, including Russians, have the opportunity to purchase residential real estate in Crimea without restrictions. Also, according to the Land Code of Ukraine, any foreigner has the right to purchase a non-agricultural land plot. However, he will not be able to privatize the land owned by the state – he will only be able to buy it from the previous owner, a citizen of Ukraine. The transaction follows the usual procedure, the package of necessary documents must include a passport, a Ukrainian tax identification number, an immigration card and the consent of the spouse to purchase the object.
With or without a palm tree?
To date, the choice of real estate in Crimea is quite large – how can you navigate it? Nikolay Lutsenko notes that the main Crimean developers, who account for a significant part of high–quality modern housing, are the companies "Console" and "Professional". Vladimir Korolev, director of the YALTABEST real estate agency, suggests paying attention to the facilities of the Aerobud company, and Ruslan Ostapenko adds that now there are a number of interesting projects in Crimea – both large multifunctional residential complexes and private houses.
"About 70% of the peninsula's high–quality resort real estate is Greater Yalta," says Ruslan Ostapenko. This city is also a leader in the cost of housing in the primary market of Crimea – the average cost of 1 sq. m here reaches $ 2,200. This is completely justified, because Yalta is not only a prestigious, but also the most developed resort in Crimea – both in terms of luxury housing construction and the quality of infrastructure and communications. In recent years, it has undergone active reconstruction, in connection with which the appearance of the city has noticeably changed, acquiring modern outlines – the famous embankment has been repaired, the facades of old houses have been updated, street lighting has been improved.
Sevastopol is also quite interesting for buying real estate, where, according to Nikolai Lutsenko, serious money is invested by local standards. Although this city was and remains in the shadow of Yalta as a resort, these places are not much inferior in beauty to Yalta, with one exception – there are no famous palm trees here. There are fewer real estate offers in the western part of Crimea, and they usually build for themselves. A significant part of the wealthy residents of the city have already moved from the built-up center to the suburbs, where beautiful cottage settlements have grown up. Hence, a more pleasant price-quality ratio compared to Yalta.
Promising from the point of view of future construction today are the territories from Yevpatoria to Stereguschy, from Alushta to Sudak (Veseloe, Rybachye, Zaydnoye, Solnechnogorskoye, Morskoye, Semigorye) and the city of Feodosia. Until recently, it was believed that it was possible to buy inexpensive housing in the suburbs of Yalta (Alupka, Simeiz, Foros, Laspi), however, Vladimir Korolev, based on his experience, says that apartments in these settlements are more expensive than in Yalta itself.
For the sake of a bright future
The development of recreation infrastructure in Crimea is significantly lagging behind the pace of construction of expensive real estate. It is at least incorrect to compare the quality of local recreation with the popular Turkey or Egypt. At the same time, the cost of both real estate and goods and services in Crimea is much higher.
According to experts, high-quality infrastructure will appear in Crimea only in 7-10 years. However, in large cities such as Yalta and Sevastopol, there are pleasant exceptions. Positive changes are taking place: every year there are more and more well-maintained beaches, tour services are improving, the quality of services of the hotel complex and the catering sector is improving.
Both experts and buyers note that the prices of Crimean real estate do not correspond to its real value. However, any price is determined primarily by supply and demand – and demand remains high. 1.5 years ago, the cost of luxury real estate in Crimea almost approached Moscow. Compared to last year, apartment prices have increased by about one third, and so far there is no limit to price growth.
On average, the situation in Crimea is as follows: inexpensive housing in the primary market costs from $800 to $1,500 per 1 sq. m, in the luxury housing market – from $ 1,500 to $ 4,000. The expected growth in the next quarter will be 5-10%. However, today Ukraine has a difficult political situation: early elections to the Verkhovna Rada are coming. Therefore, it is difficult to predict changes in the economic situation in isolation from politics. As soon as the political life of the country returns to a calm course, experts predict a huge growth in the Crimean resort real estate market. For the sake of this prospect, many companies incur heavy losses trying to stay in the market.
Market prospects
When buying a property, experts advise you to pay attention to the following nuances.
Firstly, this is the year of construction. There cannot be cheap and high-quality housing built before 2005 in Crimea at the same time. Secondly, it is the exterior decoration of the house. In Crimea, the conditions for maintaining housing in proper condition are very difficult – moisture from the sea, strong winter winds, high summer temperatures. If there are smudges, rust, plaster falling off on the walls of a new house – imagine what will happen to it in 10 years! Next, the availability of hot water. Having a high–quality independent boiler room in the house is not a luxury, but a necessity.
It is very important to pay attention to the construction company. There are companies that have proven themselves not to be the best. The buyer should look at other facilities built by the company and talk to their competitors. Special attention should be paid to the company that will provide intermediary services between the buyer and seller of the property. It is advisable to make inquiries in advance about the agencies operating in the region and contact those who have proven themselves well.
Be sure to check the legal purity of the object. In almost 80% of cases, the legal status of real estate has some pitfalls. In some cases, the problems are insignificant, in others they are critical. By competently approaching the study of legal issues, you can always protect yourself from trouble.
Evaluate the prospects for the development of a particular territory. Having bought up plots in the center of Yalta for $20,000 at one time, their current owners are selling this land for $200,000 per hundred.
Do not forget that Crimea is primarily a market of prospects. The main players in the real estate market are investors who plan to make money in the next 10 years. In the future, Crimea may well become a kind of Russian-Ukrainian version of the Cote d'Azur. The prerequisites for this exist, but there are also "sharp corners" – the uneven distribution of infrastructure on the peninsula, the low level of development of the Ukrainian real estate market.
However, those who want to buy a house in Crimea were, are and will be, as well as those who want to invest profitably. With an adequate approach to the issue of buying real estate in Crimea, it is really possible to find a truly successful option. High-qualityThere are facilities in Crimea. You just need to know how to look for them.
