Rent in Sudak
About Sudak
Sudak is a historic townlet of about 25,000 inhabitants in Crimea, situated 57 km to the west of Theodosia and 104 km to the east of Simferopol. Nowadays, it is a popular resort best known for its Genoese fortress, the best preserved on the northern shore of the Black Sea.
Sudak was founded by Greek merchants from Byzantium in the 3rd century AD. The original Greek name for the city was Sougdeia, meaning "Sogdian". The Khazars pronounced its name as Sugdak, the Slavs as Surozh, and the Italians as Soldaia. The Life of St. Stephen of Surozh describes the 8th-century town as a dependency of the Byzantine Empire. About 800, it was supposedly attacked by the Rus chieftain, Bravlin. It is thought that the Khazars retained the town from the early 800s until 1016, when the Byzantines finally defeated the local warlord Georgius Tzul. Afterwards, the town seems to have preserved some sort of autonomy within the Byzantine Empire.
The Cumans sacked the city in the 11th century. The Mongols further damaged its prosperity in 1223 and 1239. The Seljuk Sultanate of Iconium army and fleet from Sinop held and fortified Sudak in 1224. Several years later, the site was occupied by the Venetians (members of the Polo family and other Venetian merchants having resided in the town since the 12th century), who ceded it to Genoese control in 1365. The Ottomans wrestled it from the Genoese in 1475 and, after much looting, gave to the Crimean Khanate.
In 1771, Sudak was occupied by Rumyantsev's army. 12 years later, it definitively passed to the Russian Empire, with the rest of Crimea. In 1801, the first Russian school of viticulture was opened there.
Choosing property
Renting out property in Ukraine
Typical rental prices in Ukrainian cities are usually 5-10% of the property value per year, or 0.8% per month. In other words, an apartment that would currently sell for $40,000 USD would probably cost $160-320 per month to rent.
Resultant Plus offers rental and property care services, allowing foreigners owners to not have to worry about their property at all. Owners can agree to pick up rent from us periodically or have the money deposited to their Ukrainian bank account.
Taxes on property rent
Money earned from renting out real estate is taxable in Ukraine. If owners are not Ukrainian tax residents, they must pay 26% on earnings from real estate rental, twice the rate of 13% for residents.
Owners of higher-end apartments or multiple properties may find it worthwhile to register as private entrepreneurs and pay a fixed monthly tax instead of percentage based income taxes on money earned from rent. This standard tax of around $40 USD does not change for any level of income related to entrepreneurial activities that amounts to less than 500 thousand UAH (nearly $100,000) per year.
Foreigners can also create a Ukrainian firm that will be a tax resident of Ukraine. This firm will pay different kinds of taxes on earnings and in addition, will be able to legally acquire non-privatized and agricultural land which non-residents are not able to acquire by law. After land has been privatized and developed, ownership may be transferred to the foreign owner through legal means.
Money that can be proved to having been legally earned in Ukraine may be transported or transferred out of the country with the necessary documentation.
Getting here
Flights are available to Simferopol via Istanbul with Turkish Airlines (£300 - £600).
Alternatively there are a number of airlines that have daily flights to Kiev including BA, Czech and Malev Airlines to name a few (£200 - £400). From Kiev, Areosvit offer a number of daily flights to Simferopol depending on the season (£20 -£100).
For the more adventurous travel, it can be quite an interesting experience to take the overnight sleeper train from Kiev (£6 - £15). From Simferopol there is a regular bus services to Sudak or we are happy to arrange a private transfer service.
Please email us and we will be happy to assist you booking your specific travel requirements.
Our services
Real-estate Result-Plus offers a full range of services to foreign citizens looking to purchase real estate in and around the Sudak region.
Our standard services which are free of charge to buyers include:-
- Local search based of specific requirements
- Creation of purchase treaty
- Organising the creation of the purchase contract in the notary
- Advice regarding local building methods including recommendations of local builders and architects
In addition to the above services, we are able to provide the following at extra cost;-
- Full management of property including rents collection and utility payments
How to buy
Documents needed for purchasing real estate in Ukraine
Any foreigner may purchase real estate in Ukraine regardless of residential status or visa type. Foreigners may buy any real estate other than non-privatized property and agricultural land, however, almost all foreign investors are interested in residential real estate. Just a few documents are needed to transfer residential property in Ukraine:
- passport
- Ukraine taxpayer identification code certificate; this can be obtained in Kiev (find out how to do this here), or a representative (for example, Resultant Plus) can do this for you with your passport and a power of attorney.
- if buyer is married and comes to Ukraine without his or her spouse: copy of marriage certificate, copy of spouse's passport, and notarized copy of spouse's consent to buy property in Ukraine
- Ukrainian property can be bought through some real estate agencies without the buyer's physical presence. However, for obvious reasons almost all buyers of expensive property prefer to make the deal in person.
-
CRIMEAN REAL ESTATE REVIEW
When the real estate market began rising in Crimea in the 90s,
investors were interested only in the principle resort areas Yalta and
the South Shore of Crimea. This area enjoys a near-Mediterranean
microclimate. Then, interest spread to smaller resorts further east and
to Sevastopol on the west. Now, prices are rising further inland as
well. No longer are only the first two kilometers next to the shore
being considered for investment purposes. Foreign buyers are looking at
properties 10 to 15 km inland to rent out to vacationers, who are
starting to realize that there's not much difference between traveling
2 km to the beach and traveling 10 km, especially if the rent is lower
and there are additional recreation opportunities available, such as
hiking or horseback riding. Real estate in mountainous areas further
inland (but within the 30 km zone) is rising more slowly in price,
because it is difficult to get to the sea from there and the tourist
infrastructure is not very developed.
Within the 30 km-wide band of desirable real estate, the
highest prices are in the resort towns on the South Shore Sudak,
Alushta,Yalta etc. Next come properties by the sea shore anywhere along
the coast. Next come areas within 10-15 km of the shore, and finally
come villages and towns in the Crimean Mountains that are growing in
price more slowly.
Documents needed for purchasing real estate in Ukraine , Crimea
Any foreigner may purchase real estate in Ukraine regardless of residential
status or visa type. Foreigners may buy any real estate other than
non-privatized property and agricultural lands, however, almost all foreign
investors are interested in residential real estate. Just a few
documents are needed to transfer residential property in Ukraine:
- passport
- Ukraine taxpayer identification code
certificate; this can be obtained in Simferopol (the administrative
center of Crimea), or a representative can do this for you with your
passport and a power of attorney
- if buyer is married and comes to Ukraine without his or her
spouse: copy of marriage certificate, copy of spouse's passport, and notarized
copy of spouse's consent to buy property in Ukraine
Ukrainian property can be bought through some real estate agencies
without the buyer's physical presence. However, for obvious
reasons almost all buyers of expensive property prefer to make the deal in
person.
Making your Crimean property profitable
Our company can provide
property management services.If you manage your real estate through property managers, your apartment or
house in Crimea will be made available to real estate agencies that help
tourists and vacationers find places to rent. In addition, you can promote your
property yourself by creating a web-page with a detailed description and
photographs of your property and nearby attractions and/or scenery. This can be
especially important if you have a house inland that you are trying to arouse
interest in.
If your new home or apartment does not yet have a telephone line, it is not
too hard to get one installed through the local government phone office. If your
property is in Sudak, consider installing
a dedicated Internet line. This will make your property more attractive to
business travelers in the off-season. Dedicated lines are not yet available in
most smaller towns.
Exchange rates
