UkraineCapital: Kiev
Language(s): Ukrainian
Population: 46,287,138
Total Area: 603,700 km²
GDP (in billion USD): 164

Ukraine is a country in Eastern Europe. Ukraine borders the Russian Federation to the east and northeast, Belarus to the northwest, Poland, Slovakia and Hungary to the west.

The Ukraine is still crippled by the after-effects of the great housing boom (2004 to 2008) which saw average Kiev apartment prices surge 300%. In the wake of the boom's collapse - house prices are still 46.2% below their from September 2008 US$3,627 per sq. m peak, according to S&V Development - the currency lost massively in value, the banking system collapsed, and GDP shrunk 15% in one year.

Ukraine's economy slowed sharply in 2012, growing only 0.2% because of the euro crisis, and tighter monetary policy. Ukraine's GDP is predicted to grow 2.5% in 2013.

In January 2013, a real estate tax was introduced, applying to residential property owners of apartments more than 120 sq. m. and residential buildings higher than 250 sq. m.

There are no major restrictions on foreigners buying property in Ukraine. All secondary residential transactions (i.e., re-sales) are in US dollars, while primary sales are quoted in hryvnia, but still paid in dollars.

 

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