Kiev Ukriane Real Estate
Ukrainian real estate agents will confirm that now is the best time to invest in residential property in Kiev. Many Western investors, especially Americans, cannot imagine a real estate market without credit, and that is what Ukraine will see in 2019.
In a constantly growing economy, investing in Ukrainian real estate can prove to be a lucrative investment in the long term. Whether you are considering buying a suburban home or a house in a residential community, you should remember that investing your money in residential property is a good investment. There is no shortage of housing in Kiev and other parts of the country, especially in central and eastern Ukraine.
So, when you think about it, real estate prices in Ukraine are not as low as you might have thought. Real estate costs for investors in Ukraine are quite low, especially compared to the costs borne in real estate.
Another advantage is that suburban real estate will always be very expensive and buying a house in the Kiev region is much cheaper than investing in other liquid assets. If a Ukrainian has a windfall, much of it is spent on real estate, to drive up the prices of other assets, such as stocks and bonds, and maintain the value of that asset class.
We strongly recommend that any procedure for the purchase of real estate in Ukraine be conducted by a qualified lawyer or legal advisor. Please note that all documents such as bank accounts, tax returns and other financial documents are completed in writing and notarized. Notaries are legally obliged to perform due diligence and to ensure that they are not only legally valid but also legally correct (see our guide to legal requirements of the Ukrainian real estate market).
None of these regulations exists in Ukraine, so extreme caution is required when choosing an agent or real estate agency. If you are an investor and want to buy, renovate or rent an investment property in Kiev, you will want to find out which agent is right for the type of apartment you want to buy. Real estate lawyers will help you to buy reliable real estate from Ukraine, even without your presence. However, if you need a competent and independent buyer agent for your real estate investment in Donetsk or Kiev, we recommend you speak to Alex, who is based outside Ukraine.
It is also possible to structure your investment in Ukrainian real estate tax efficiently and to meet banking requirements in Ukraine and other parts of the world.
Qualified legal and tax advice goes beyond the scope of this article and specific circumstances may differ from the assumptions used herein. Real estate investments in Kiev may seem daunting to many at first glance, but here are a few legal issues to keep in mind if you are a foreign citizen considering buying real estate in and around Kiev. If you have read # until now, then congratulations, you are well on your way to understanding the basics of investing here And I guarantee you have plenty of follow-up questions.
Ukraine is a great place to live and has a lot of real estate to buy, starting with hotels, apartments, condominiums, office buildings and even a few residential properties. However, it should be noted that only foreigners legally residing in Ukraine are entitled to purchase real estate. One might conclude that a foreign citizen must be 18 years old to legally acquire property in Ukraine, even if he or she is married. In order for a foreigner to acquire real estate in Ukraine, he must first obtain the consent of a spouse.
In Ukraine, the most important part of any transaction is undoubtedly the thorough and detailed due diligence before choosing the property or object. Ukrainian law does not require you to carry out a technical inspection of the property before buying or selling it. In Ukraine, speculative taxes are levied when the buyer sells a property that has been in possession for less than three years or when more than one property is sold in a calendar year.
The number of distressed properties for sale is relatively small, but this may not come as a surprise, given that comparatively few properties are purchased without mortgage financing and the book cost of owning them is low.
In this case, you should contact a local real estate agency or open a bank account with one of the Ukrainian banks. It is important to remember that the purchase of real estate must be paid for in the form of bank transfers, the total amount of which leads to the necessity of opening an account in Ukraine as a foreigner. Make sure that you buy the apartment in Ukraine from a strong financial or investment company that has a good track record in the financial and investment field in other countries without needing a permit. Importantly, all costs of carrying out a real estate transfer from the USA to Ukraine and vice versa are in Ukrainian hryvnia (UAH).