We have been talking about overpriced real estate in Kiev for many months now. But still the prices kept going up.

However, during the summer 2007, the secondary real estate market prices could decline up to 12%. It seems prices can't grow any longer and have reached a high. Real estate experts say that since the end of last year the number of owners cutting prices has increased and negotiation have turned more in favor of the buyer.

Real estate in Kiev is up to 2 times more expensive than in Warsaw, Sofia, etc. In addition to this there are a large number of "frozen" apartments in Kiev that are bought by speculator and kept empty to be sold when prices have increased. Compared with March 2006 there are 27% more Kiev real estate properties for sale now.

At these prices the buyers have disappeared and the sellers are lowering their sale prices.  Most Kiev real estate experts agree that this summer more apartment owners will reduce their prices and the trend could be downwards by as much as 12%.