Health-resort and residential real estate on the Crimean Southern coast (CSC)
Each year the price of having a vacation in Crimea rises higher. That’s why the demand for real estate on the CSC unceasingly grows higher and higher.
As the market observers state, nowadays more than two third of purchases are made by out-of-towners. Main customers are Russians and residents of Kiev, Donetsk and Dnepropetrovsk who purchase real estate in Crimea mostly for private recreational purposes.
Among out-of-town purchasers there are Europeans, Americans. Mostly they are our former fellow countrymen, Crimea for them is a memory of their childhood and youth, that’s why they come here year after year. On the other side, Crimea is more and more often visited by new to the place foreign tourists, drawn here by local places of interest and inexpensive, actively developing service.
Ukrainian press states that apartments and houses on the secondary market of Crimean immovable property are preferred now to that of new buildings. The reason is that apartments of the second market buildings often demand capital repairs. Besides, many customers prefer buying ready apartments of elite class with Euro-style renovation in newly-built houses. Also the cottages at the seaside are popular, either separate ones or that of newly-built cottage settlements.
Besides residential immovable property, the market also proposes health-resort estates, in other words “profitable” property. One of the leading proposals - luxury suites, a new type of real estate on the Ukrainian market, that become very popular nowadays. In our law luxury suite is not accounted as residential property, at least one can not get registered in it. Nevertheless, having a luxury suite, owner may come there at any time and invite there his relatives and acquaintances for recreation. According to the world-wide experience, if the management company works well, luxury suite covers the expenditures in about 6 years by letting it on lease in owner’s absence.
Besides luxury suites in new complexes, real estate agencies in Crimea offer buying a room in one of existing private hotels with an extensive client database. Basically it is the same as luxury suite, but on smaller scale.