The Kiev real estate market has reached a point where some buyers are just buying concrete shells. No windows, no doors, no nothing. Just concrete walls for your Kiev real estate purchase.

A good example is the Triumph Kiev apartment complex. This Kiev real estate overlooks rolling hills and golden-domed churches on the edge of the city. This Kiev real estate will have a swimming pool, spa and underground parking.

Kiev real estate speculation is fueling this "concrete shell" buying phenomena. In general, Kiev investors don't trust banks. To many have had bad experiences with bank defaults, devaluation ...

Kiev real estate is for many wealthy Ukrainians the only safe investment. Brick and mortar sounds to many Ukrainians as the only reasonably safe investment. This has lead to concrete shell investments. Investors purchasing concrete shell Kiev real estate. Taking it off the market for several months. And then selling it later for a profit. Afterwards, repeating the operation. This also leads to a rise in prices, since it decreases the number of apartments available on the market. The side effect is an increase in empty concrete shell apartments in the Kiev real estate market.

Although months remain till this Kiev real estate complex is complete, much of it has been sold already. And although these Kiev real estate apartments remain concrete shells a three-bedroom unit is valued at about $1m.

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.

Kiev real estate has experienced such a property boom. Some have bought Kiev real estate flats three years ago for $30,000, and now they're worth up to $200,000.

The source: Real Estate Kiev Blog