The real estate market is always changing
The situation in the real estate market is always changing from rapid growth and successful sales, to a sharp drop in demand for apartments. And most often – this is a number of reasons that do not depend on a particular developer.
So, in the period from 2018-2019, among buyers, there was a significant drop in demand for apartments – by 40%, and NOVBUD felt this decline. The main reasons for these drastic changes are:
The overall situation in the country was significantly tense due to the election of the future president. The atmosphere of uncertainty, doubt and mistrust of people about the situation in the economic and political spheres was obvious. The real estate market, which means that there was no question of investing significant funds in housing.
In the capital, the number of facilities under construction increased, and the level of demand remained unchanged, that is, did not grow.
Developers appeared who attracted the attention of buyers only due to the artificial reduction of prices, or, in other words – dumping, and promises that the apartments will be more unique, unlike the apartments of other companies. However, they did not have all the necessary documents. Through the active distribution of advertising, many believed in such a scenario, falling on the hook of a high-profile media campaign of the developer.
As a result, many developers who honestly complied with all the necessary requirements of the regulatory framework and focused on quality, automatically found themselves in a not-so-comfortable position. Obviously, they cannot build cheaply and artificially lower the price either. So: revenues decreased, and at the same time it was necessary to fulfill obligations and promises on those objects that are being built and at the same time continue to develop new ones. The NOVBUD company also found itself in this situation, which postponed the deadlines for the construction of projects and their commissioning.
At the moment, the situation is recovering, the company has carried out an important stage of work on errors, taking into account the current situation. NOVBUD is gaining momentum and will continue to work fruitfully.
Now NOVBUD is developing 4 projects simultaneously:
LCD “Petrovsky Quarter” is one of the most ambitious projects of the company, 74 houses have already been built here, 25 new ones in the queue.
LCD “New Teremki”. In this project there will be 7 phases of the complex and it will consist of 25 houses, the first phase has already been implemented, and the second will be commissioned in the near future.
“Kryukovschina quarter” – consists of 7 houses with a height of 6 to 11 floors.
LCD “New Zhulyany” – a complex under construction.
And this year NOVBUD begins construction of two new projects. The company plans to continue to build residential complexes of a new format, creating a harmonious atmosphere and embodying its main values in life: providing, comfort, comfort and mobility. The objects will be located in Kiev and next to the Petrovsky quarter.