In 2023, Intergal-Bud Construction Company completed the construction of more than 120 thousand square meters of real estate and plans to launch four new housing projects next year.
“The war is making its own adjustments to the work of the entire industry, but Intergal-Bud continues to build. In 2023 alone, we received certificates of readiness for more than 120 thousand square meters of real estate in the capital region. In 2024, we plan to launch four new residential projects and are generally optimistic,” Anna Laevska, Commercial Director of Intergal-Bud, told Interfax-Ukraine.
According to her, in early 2024, the company also intends to complete the construction of 180 thousand square meters of housing in Kyiv, Lviv, Chernivtsi, and Zhytomyr.
In the sales structure of Intergal-Bud, more than 60% of transactions relate to the purchase of housing in finished buildings or those that will be put into operation in the next six months. At the same time, projects scheduled for completion in two years account for only 11% of sales, compared to 52% in 2021, noted Laevska.
“Investors, given the military risks, are not ready to wait for a long time and prefer to buy real estate at the final stages of construction. This is a common trend in the market. But at the same time, the demand for housing is high and it is necessary to ensure the continuity of the construction process. The number of transactions on the market is growing, and accordingly, there is a need for new projects,” the expert explained.
At the same time, the share of speculative demand in the market remains insignificant – Ukrainians mostly buy housing for themselves to improve their living conditions. For the same reason, the number of transactions for the purchase of two- and three-bedroom apartments, as well as renovated apartments, has increased over the past year.
According to Ms. Laevska, housing prices have increased by an average of 20% compared to last year. At the same time, prices grew more rapidly in the economy and comfort class segments, while in the premium category the growth was about 10%.
“Developers who demonstrate active dynamics on construction sites were forced to revise the cost of real estate, as the cost of construction has increased by a total of 40% since the beginning of the full-scale invasion,” she said.
Intergal-Bud has been operating in the residential real estate market since 2003. The company has built 170 houses, with 20 residential projects under construction. The total area of the projects is 4.6 million square meters.
