Ukraine has only 24 m2 of housing space per capita
Housing construction in Ukraine has been struggling to return to pre-2009 completion levels for more than five years. A still challenging fund-raising environment, accompanied by fear and mistrust on the part of potential buyers, the weak purchasing power of the average consumer and high mortgage interest rates have been the key impediments to more dynamic market growth. The majority of developers, captivated by sky-rocketing prices and fast returns, prioritised residential projects during the boom period. Once the credit crunch struck Ukraine in 2008, many residential property developers across the country had to leave the market, with construction work suspended and clients unable to recoup their investments.
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