Average salary in Ukraine to exceed EUR330

Kiev, Ukraine (weisserstier, CC BY-NC-ND)

Hungary: Record investments in real estate

More tourists in Romania

Ukraine

In 2019, the average salary in Ukraine is expected to be about UAH10,500 (EUR330), Prime Minister Volodymyr Groysman announced. The income of Ukrainians has been growing steadily, the average salary in October increased by almost 25 per cent y/y. This contributed to the retail trade turnover in January-November 2018, growing 6.2 per cent y/y. Also a steady demand on the real estate market pushed construction up by 6.3 per cent y/y.

“I wish Ukrainians could work in Ukraine and receive a decent salary. We will reach the goal of high salary for Ukrainians,” Mr Groysman said. The International Monetary Fund expects that in 2019, Ukraine’s economy will grow by 2.7 per cent y/y with inflation at 7.3 per cent y/y, while the World Bank expects GDP growth of 4 per cent y/y with inflation at 7.3 per cent y/y.

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Hungary

In 2018, real estate investment in Hungary was close to a record EUR1.8bn, according to investment management company JLL. Multibillion investments are related to rapidly growing housing prices in Hungary, which rose 7 per cent in Q3’18, a rate well over the 4.3 per cent average for the European Union, as the Eurostat data show (read more).  However, Budapest reported much bigger residential price growth of 19 per cent y/y in 2018.

During 2014-2016 real estate prices in this European capital increased by more than 20 per cent y/y. “For the last decade, since the 2008 global financial crisis, Budapest has been one of the cheapest European capitals. After the global economic recession blew over and European property investors started to broaden their areas of interests, Budapest came into the focus,” explained JLL.

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Romania

Romania had one of the largest increases in the number of nights spent in tourist accommodation in 2018, up 5.5 per cent y/y according to Eurostat. However, Romania was the EU country with the smallest share of nights spent in tourist accommodation units by non-residents.

The largest increases in the EU were recorded in Latvia (8.3 per cent y/y), Lithuania (7.7 per cent y/y) and Malta (6.5 percent y/y). In the CSE region, Romania with 5.3 million nights in tourist accommodation units is far behind Hungary, which registered 15.3 million overnight stays by non-resident tourists, Poland — 17.7 million and Bulgaria — 17.8 million, while Czech Republic is a regional leader with 26.8 million overnight stays, Eurostat data show.

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What’s up in indexes

BET (of Bucharest) decreased from 7,141.56 index points Thursday, January 24th to 7053.67 index points Friday, January 25th. It’s down 1.32 per cent d/d and down 16.16 per cent y/y.

BUX (of Budapest) increased from 40891.00 index points Thursday, January 24th to 40944.82 index points Friday, January 25th. It’s up 0.13 per cent d/d and down 1.27 per cent y/y.

CROBEX (of Zagreb) increased from 1,757.13 index points Thursday, January 24th to 1,762.22 index points Friday, January 25th. It’s up 0.29 per cent d/d and down 3.38 per cent y/y.

OMXR (of Riga) decreased from 988.57 index points Thursday, January 24th to 983.93 index points Friday, January 25th. It’s down 0.47 per cent d/d and down 5.36 per cent y/y.

OMXT (of Tallinn) increased from 1222.03 index points Thursday, January 24th to 1224.62 index points Friday, January 25th. It’s up 0.21 per cent d/d and down 4.46 per cent y/y.

OMXV (of Vilnius) increased from 645.64 index points Thursday, January 24th to 646.73 index points Friday, January 25th. It’s up 0.17 per cent d/d and down 9.24 per cent y/y.

PX (of Prague) increased from 1017.70 index points Thursday, January 24th to 1023.10 index points Friday, January 25th. It’s up 0.53 per cent d/d and down 9.76 per cent y/y.

SAX (of Bratislava) closed at 331.94 index points Friday, January 25th. It’s the same result as Thursday’s. It’s 0 per cent change d/d and down 1.15 per cent y/y.

SOFIX (of Sofia) decreased from 573.50 index points Thursday, January 24th to 573.33 index points Friday, January 25th. It’s down 0.04 per cent d/d and down 19.04 per cent y/y.

UX (of Kyiv) closed at 1,710.65 index points Friday, January 25th. It’s the same result as Thursday’s.  It’s 0 per cent change d/d and up 20.35 per cent y/y.

WIG20 (of Warsaw) decreased from 2406.38 index points Thursday, January 24th to 2398.74 index points Friday, January 25th. It’s down 0.32 per cent d/d and down 7.36 per cent y/y.

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