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Apartments for sale in Simferopol: Prices in 2013
The prices of apartments in Simferopol mainly depend on such factors as the location, type of apartment, and its size. It is possible to estimate the market value of an apartment based on the price of 1 square meter of total floor area. As of the end of 2013 the average price of one square meter for pre-owned apartments in Simferopol is as follows:
The final price of the apartment also depends on its condition and the floor it is located on. It is 3-5% cheaper to buy an apartment set on the ground and top floors. Although the high quality of the interior fit-out does not have a significant impact on the price of apartment (only about 3-5%), it does speed up the sale. Today most buyers prefer paying a little more for well fit-out apartments that do not require much renovation or upgrade, whereas in the past people would rather buy old apartments and renovate them in their own fashion.
The apartment prices in brand new apartment buildings in Simferopol range from 800 to 1100 US dollars per square meter. But in this case apartments are sold in shell condition or with a cheap touch-up.
Customers with higher income prefer buying brand new properties. Such apartments are more spacious, better designed and allow more freedom for remodeling and adjustment. Besides, new apartment blocks of Simferopol are built with modern materials using advanced, innovative construction technologies, have independent heating systems installed, reliable electricity and water supply, underground parking area, etc. But one should bear in mind that the whole process of the transaction from payment till actual settlement can take up to several years.
Customers with lower income that the majority of buyers belong to normally buy pre-owned apartments that are cheaper and ready for moving in right away. The cheaper one room apartments of a small size (24 square meters) meant for a single person or a couple cost 22-23 thousand US dollars. Such apartments are mostly located in more remote residential areas of Simferopol.
It is possible to buy a property for less than 20 thousand US dollars in the old town district but it will lack some essential amenities such as gas, central sewage or water supply.
Finally, the cheapest properties for sale are offered in suburban countryside areas around Simferopol. Well developed commuter transport system and mild winters in Crimea make it possible to live in the countryside settlements all year round.
It is worth mentioning that the price for smaller apartments in old buildings erected in ninety sixties-seventies in the central district is almost the same as it is for modern, spacious apartments in the new buildings located in new residential areas out of the city center.
The busiest time for the real estate market in Simferopol begins in autumn once the holiday season is over. Crimea remains a major holiday destination with over 5 million visitors each year. The largest portion of money earned in tourism business during summer is invested in real estate. Therefore, if you are going to sell an apartment in Simferopol, autumn is the right time to do that.