Thinking of investing in Odesa? Real estate investments can earn you an income or a secure place to park your money.
The real estate market of Ukraine is very diverse: apartments in the rural areas are very cheap but in big cities, they are extremely overestimated.
And the prices will continue to rise after the Russian invasion with negative consequences for the local population, as the country's housing stock has shrunk. But especially compared to the capital of Ukraine, Kyiv, other cities like Odesa have much more moderate prices.
Let's see what you can get in Odesa. It's one of the biggest cities in the South of the country and is a resort city, an industrial center, and an important port. Odesa is situated on the coast of the Black Sea and plays a vital role in the economy of Ukraine.
Its port accepts many ships from all over the world from the countries that trade with Ukraine or other countries from the region. The city is popular among tourists and this fact influences the prices of apartments and hotels, raising them up. On the other hand, investing in the real estate of Odesa may become a prudent and profitable action.
So, if you want to buy an apartment to live in the city, you will have to pay 50-70 thousand dollars for a 2-rooms apartment depending on the district, size, and other conditions. The price for 1 square meter varies from $800 to $1700. Many owners rent out their real estate after purchasing it and that brings them big profits. If you rent out your flat on the daily basis, you can get $40-$60 per day.
Luxury apartments can bring as much as $125 daily. Another option is to rebuild your property and make a commercial object. This may save you a lot of money because commercial property, like shops, casinos, pharmacies, or offices, costs much more than simple apartments. You will just have to choose a proper location and appropriate apartment on the first floor.
After that, you can conduct some repair and rebuilding works and then sell or rent out this real estate as a commercial one at a big price. However, most of the best locations are already occupied in Odesa, so most probably you will have to buy a ready business by investing more than $100,000.
But the market changes with time and the prices may fall for a short period. As they say, this may happen in the nearest time in 2020. That may be the best time to invest. In any case, Odesa is a city of possibilities where everyone can earn money if they just make some effort.
- Need expert advice and tips on how to invest into real estate in Ukraine or interested in renting Odesa apartments for your next vacation? Visit our site www.Odesapartments.com for more helpful information about affordable apartments for rent.