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Where there is no law, but every man does what is right in his own eyes, there is the least of real liberty
Henry M. Robert

Small Privatization Boom

6 October, 1998 - 00:00

We can make such a conclusion after estimating the results of the next-in-turn
auction of small privatization objects and unfinished buildings, which
was held in Kyiv last week. 18 of the 20 objects sold at the auction were
small privatization objects and two were unfinished buildings in Kyiv Oblast.
The overall sale amount reaches as much as Hr 800,000.

The financial crisis, which has just begun, gave the bids a special
taste. According to SPF regional department head Vladyslav Zburzhunsky,
it was the crisis which provoked the unusual splash of purchasing activity
in September. 60 purchasers participated in the bids "On Twenty". The correlation
of supplied and purchased objects was 39:20 (compare this with 16:8 in
January, 29:9 in March, 25:5 in April, 33:3 in June and 48:16 in July).
Entrepreneurs are trying to save their hryvnias by investing in something
which will not devaluate - real estate. As is commonly aware, the primary
real estate market, formed in the process of auction privatization, is
the cheapest and available.

 

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