Exploratory Research of the Primary Apartment Market in Central Kyiv
A regular client — PBG "Kovalska" — approached MCG specialists with the following research task: to determine the specifics of the local luxury apartment market in central Kyiv based on indirect signs and to model potential demand factors for them.
Research Objectives
- To analyze the offerings in the luxury apartment market in central Kyiv.
- To conduct a comparative analysis of apartments available on the market by key parameters (readiness stage, area, layout of rooms and other premises (terraces, balconies, bathrooms, etc.), building status, availability of services, parking spaces, etc.).
- To analyze current market prices for apartments in central Kyiv at different readiness stages and identify pricing factors.
- To characterize the demand for apartments (identify mandatory and additional preferences; describe the target audience).
- To forecast the possible connection between the demand for apartments and the readiness stage and tenant occupancy of the business center buildings linked to the apartment complex.
- To prepare recommendations for the client's project.
The solution to these tasks involved a combination of the following research methods:
- Desk research (analysis of open sources, social networks, secondary data analysis, etc.)
- Content analysis of user reviews on real estate websites
- The "mystery shopper" method (in telephone and online versions)
- Expert interviews with active realtors
This approach allowed MCG specialists to comprehensively assess the specifics of the local apartment market in central Kyiv and prepare a series of recommendations for improving the client's offer.
Results
Based on the results of the research, the client was provided with a full analytical report, including detailed and comprehensive information about main competitors and substitutes, as well as general tendencies and trends characteristic of both the studied segment and the real estate market as a whole.
The analytical results formed the basis for specific recommendations; in particular, a pricing scheme for apartments in the client's apartment complex was proposed, differentiated by construction stages, location, floor level, etc.
Conducting the research became an important stage in both establishing a long-term company development strategy and implementing a specific project in the local market and adapting it to current realities.