Small Privatization Boom

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.