«Now is a profitable period for buying an apartment»
During the conference, in particular, they discussed how quarantine construction works, how developers reacted to force majeure and how to turn the situation on the housing market to the buyer's advantage.
Anna Laevska, Commercial Director of Intergal-Bud:
Strong market players like our company do not consider stopping construction sites. If we stop them now, it will hit the confidence of buyers to developers and the market in general amid panic.
Investing in real estate is about saving money, high returns and being able to use the asset in different ways (rent, resale, collateral for a bank loan)
It is now a profitable period for buying an apartment because a number of developers, including Intergal-Bud, have fixed a favorable buying rate in their LCDs to stimulate a solvent buyer. For example, our course by the end of quarantine is 25.5 UAH. It is possible to buy for the full cost of housing, pay the first installment or deferral at a reduced rate. We also made it possible to delay payment of the installment account for 2-3 months to those who have suffered from quarantine.
Housing prices will only rise in the future after quarantine and the country's exit from the difficult situation. First, the cost of construction is increased by the increase of materials and components. Even now, in quarantine, contractors are not ready to make discounts and work in the red. Secondly, inflation and associated project costs will also affect developers' pricing. No one will work for themselves at a loss. Most big players will be able to wait while continuing to build, and will sell later at higher prices at a higher stage of readiness. And, therefore - even more expensive.
In the future, discounts and profitable course, which is below the market, no one will keep. It should be understood that developers with a financial cushion and a margin of safety are easier to spend two to three months on a protracted zero-quarantine period than dumping. The cost per square meter depends on the cost of construction and the cost of materials. When it comes to quality and comfort, it cannot be below market price. Intergal-Bud is independent of investor money and can continue to build, even if we observe a decline in investor activity over a period of time.