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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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Ukraine is one of most illustrious examples of what a government elected by the people shouldn't do in a matter of economic policy on a road to the market economy. Given its resources, economic base and highly educated population, Ukraine in early 90s was seen at pole position for market oriented reforms. In these days it was common for many experts to compare the former Soviet Union republic with France because of its size (more than 200 000 sq.mi.), population (more than 50 million), armed forces (more than 500 000) and nuclear weapons (later transferred to Russia).

From its supposed pole position, Ukraine has gone within years to the bottom of Central and Eastern Europe countries and the European Union didn't even consider it as a potential candidate for membership. The western companies so far are not hurrying up to settle down their businesses and the recent scandals about the Ukrainian Central Bank frauds with International Monetary Union credits wouldn't help to establish in the country more business-friendly atmosphere. Further, the lack of hope for integration with Western Europe and the miserable living standards (the average monthly salary is well below $100) pushed hundred of thousands of young Ukrainians to emigrate. Some of them (mostly ethnic Russians) moved to Russia, the others - to Western Europe or the Middle East (Ukraine had one of the most numerous Jewish communities until the late 80s). This human exodus partly explains why the national market is shrinking in the recent years (50 percent in the 90s).

The capital city of Kiev (2,8 million) is somewhat an exception on this gloomy picture. Just after the collapse of the Soviet Union 9 years ago Kiev became a magnet for thousands of Ukrainians who until then had no right to settle there. Because of the importance of political links with people in the state capital, Kiev also became a magnet for thousands of businessmen from the other regions of the country. In the first years of independence and the general euphoria some western companies established in Kiev their local offices. Last but not least, some individuals out the of several millions Ukrainian emigrants decided to return home and to live there the rest of their lives.

All these factors put together pushed up the prices and rents in the capital in the first half of the 90s. From more than $2 billion real estate market in Ukraine more than a half is located in Kiev. In every given moment in the recent years on the capital city real estate market was presented more than 14 000 houses and apartments from every kind, size and quality. From less than $100/sq.meter in early 1992 (1 sq.meter=10 sq.feet) the prices for residential properties reached their peaks - more than $800/sq.meter for the city center in the summer of 1997. After these peaks followed a steady decrease both in prices and in rents. In September 2000 1-room apartment * in the suburbs can be bought for $227/sq.meter. The same size apartment in the center costs $435/sq.meter. For the 2-rooms apartments the prices are $234 and $495 respectively. For 3-rooms - between $233 and $577/sq.meter.

On the market of short term (1-30 days) residential rentals 1-room apartment can be rented for $10 per day if it is in the suburbs and up to $50 per day if it is in the central area. The rents for 2-rooms apartments vary between $15 and $90 per day. Short term rents for 3-rooms are $30 per day in the suburbs and $200 per day for the luxury properties in the center. The long term rentals (more than 1 month) follow the same correlation. The 1-room apartments can be rented for $50-600 per month depending on exact location, quality and amenities, 2-rooms - between $120 and $1000 monthly and 3-rooms - between $140 and $2500 a month.

On the commercial real estate market the offices, depending on exact location, are sold within the large range between $500 and $1000 per sq.meter. In the capital city center some prices go as high as $1200-$1500 per sq.meter. The rents for offices start at $5-$6/sq.meter in the suburbs, go between $10 and $15/sq.meter in the more prestigious areas and can reach $25/sq.meter in the city center.

* - When deciding to buy or rent an apartment we must remember the differences in terminology which can make some confusion. In Ukraine (as well as in Eastern Europe as a whole) the living room is included in the number of rooms. Thus for example 2-rooms apartment in Ukraine equals 1BR/1 living room in the USA. The 3-rooms apartment in Ukraine equals 2BR/1 living room in the USA and so on.

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See also the directory of companies providing real estate services in, and general real estate information of Ukraine.