Own A House - real estate market news

In connection with release of considerable volumes of the new warehouses in 2008, dynamics of warehouse market development has gradually slowed down. This tendency has amplified under the influence of the general economic recession in the country and design financing reduction.
Decrease in economic activity practically in all branches, begun in second half of 2008, has made clients to revise the plans concerning warehouse areas rent.
Falling of volumes of manufacture and retail goods turnover has caused reduction of demand for warehouse. Unlike trading and office real estate market, warehouse market was the least speculative, that has allowed it to face economic crisis successfully.
In 2008, as well as earlier, termination dates of building of many warehouse complexes were postponed for later period. By the end of year developers finished only high stage of readiness objects, not beginning construction of new ones.
Warehouse real estate development loses its attractiveness because of consumption reduction.
By the end of the first half of the year quantity of the got ground areas, suitable for warehouse complexes development, has decreased, however, interest of developers to purchase of front sites along the basic transport highways round Kiev has remained the same.
Since the last quarter of 2008, readiness of warehouses owners to sign short-term contracts of rent was observed.