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The Most Expensive City For Housing In Eastern Europe

Posted by: Nate Berg

8 January 2007 - 6:00am

Kiev, the capital of Ukraine, is widely believed to be the most expensive city in which to buy a house in eastern Europe. Prices have seen a major surge in the last few years, with some prices increasing by up to 25% in the last two months.

"Prices increased by 10-25% in just the final two months of 2006."

"This kind of price is estimated to be about three times what it would have been two years ago - although, with no public register, no-one is entirely sure of the exact figures."

"The cost of apartments has already overtaken some EU cities like Amsterdam."

New buildings are popping up all over the city. Many residents are eager to move out of Soviet-style housing into newer, bigger homes -- a trend which is believed to be the cause of the housing bubble.

"But despite the building frenzy, Ukraine remains one of the poorest countries in Europe."

Full Story: Kiev becomes latest property hotspot
Source: BBC, January 5, 2007
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