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Ukraine Property Investment For Sale

 

"An interesting market which needs to make more structural reforms to move forward."

 

Ukraine has a fascinating mixture of spectacular landscapes, unique architecture, a rich and colourful history and one of the most beautiful cities in Europe – Kiev.  Along with the Carpathian and Crimea mountain ranges with their skiing and hiking centres and Lviv, the medieval town that acts as the main cultural centre of the country, Ukraine has long been a popular tourist spot – especially with its neighbours.

As the second most important economic component of the former Soviet Union (behind Russia), Ukraine provided one-fourth of all soviet agriculture and the equipment and raw material for industrial and mining sites across the USSR.  However after independence in 1991, production fell and the country become largely dependent on Russia for its fuel needs although it holds a unique strategic position within Europe.

Ukraine like many of the other former Soviet counties saw rapid growth in the lead up the international credit crisis, fuelled by high global prices for steel, which is the Ukraine’s largest export, and high domestic consumption.  Alongside this general surge in wealth came a large growth in property prices, based on massive speculation often by locals trying to safeguard their newfound wealth.  Real estate prices increased by some 300% in a window of just 4 years.  However when the international financial crisis hit, Ukraine was one of the worst performers worldwide and saw a GDP contraction of 15% in just one year, massive currency devaluation and the collapse of its banking system.  It is no surprise therefore that at the same time the bottom fell out of the housing market and has yet to make a recovery.
 

Country Guide

Geography

Ukraine is situated in Eastern Europe bordering Belarus, Poland, the Slovak Republic, Romania, Hungary and Moldova. It is Europe's second largest country after Russia. The Ukrainian landscape varies significantly with flat plains in the centre of the country to the mountainous region of the Carpathian and Crimea mountains along the western coast. The Dnieper River is the main river in the country and also one of the largest European Rivers, running through the country to meet the Black Sea. Europe's second longest river, the Danube, flows through Ukraine forming part of the border with Romania.

Government

Ukraine has a Republic government that became independent from the Soviet Union in 1991. The legal system in Ukraine is based on judicial and civil laws of the legislative acts. 

Language

Ukrainian is the official language  spoken throughout the country. Russian is also widely spoken by many in Kiev.

Standard of Living

After moving away from Soviet rule Ukraine was plunged into economic trouble and much of the population suffered dreadful poverty with  significant number in rural areas only surviving by growing their own food and having to hold down more than two jobs. However, after a series of reforms and measures to tackle economic stability the country started to recover, although there is still a large amount of government control and regulation and corruption is prevalent. Workforces are enthusiastic and well educated but the standard living is still very low and the country suffers from a very high mortality rate as a result of environmental pollution, poor diet, smoking, excessive alcoholism and bad medical care.

Country Economy

The economy of the Ukraine continues to struggle and when the international financial crisis hit, Ukraine was one of the worst performers worldwide and saw a GDP contraction of 15% in just one year, massive currency devaluation and the collapse of its banking system.  The country suffers from significant issues including underdeveloped infrastructure and transportation, corruption and bureaucracy.

Key Industries

Ukraine's main industries include, coal, electric and metal production, machinery, transport equipment, chemicals and food processing. Ukraine carries out a majority of its trade with former members of the Soviet Union, particularly Russia on whom it relies to supply it with oil and natural gas. Ukraine imports almost 90% of oil. Growing sectors of the Ukrainian economy include information technology - Ukraine has the world's fourth largest number of IT professionals after the US, India and Russia.

 

Hotspots

Kyiv (Kiev)

Kyiv is the capital of Ukraine and is the country's largest city and also one of the oldest cities in Eastern Europe.  The city itself has numerous tourist attractions including Khreschatyk Street with its array of up market restaurants, cafes, bars and shopping stores. Other attractions include the cave monastery Pecherska Lavra and the St. Sophia Cathedral. 

Lviv

Lviv is located in the western part of the Ukraine and is in an easily accessible location with an international airport close to the city. A few of the well known attractions include Lychakivskiy cemetery, the market square and Lviv theatre. In particular the Bania, a Russian style sauna for both men and women (though not communal) is definitely somewhere to visit. As well as being in close proximity to some of Ukraine's ski resorts, Lviv has a thriving nightlife, food is inexpensive and accommodation is cheap making this an ideal getaway.

Odessa

Situated next to the Black Sea and one of its largest ports, this colourful city is also known as 'the pearl of the black sea'. Odessa is the third largest city in Ukraine and is the most important trading city in the country. Having undergone infrastructure improvement it is much more easily accessible to holidaymakers. The city has many beaches which are very popular during summer months and has the most resorts in Ukraine offering plentiful types of accommodation and a variety of different kinds of food.

Yalta

Yalta is a resort town on the Crimea peninsula in Southern Ukraine. It is a very popular tourist destination with Ukrainians and Russians and can become very crowded in the summer months. The Ali-Petri, or St. Peter's Peak as it is also known, is worth a visit as the mountain looks over the city of Yalta and offers some amazing views. Other areas of interest include the Massandra palace and the Nikita Botanical gardens. There is a local pebbled beach which is very busy during the tourist season. Yalta has many day trips to neighbouring towns and cities such as Sevastopol, famous for its historic monuments and sites. 

Mykolayiv

Mykolayiv is home to Ukraine's major commercial sea port. Although there are no regular ferries available to the public, the city is served by the Odessa airport. The best way to get around the city is by coach buses which travel almost everywhere and are inexpensive. Sovietskaya is the main pedestrian street which has many beautiful parks and lots of shopping opportunities. The street also comes alive in the evening offering a variety of nocturnal experiences. There are several places to eat and a majority of the food is organically produced. Mykolayiv has a lively nightlife with many of the nightclubs cheap by western standards.

Uzhhorod

Separated into two parts by the river Uzh, Uzhhorod is popular with historians. The Transcarpathian museums, Uzhhorod castle and Greek Catholic Church are amongst its attractions and the city is also famous for its old downtown and the Goranska Rotananda, the town's oldest building. The city has an established railway station and busy international airport. 

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