Igor Mazepa
Founder and CEO
 

Igor Mazepa: Today's boom of suburban real estate marks the beginning of a strong and persistent trend for decades to come

Igor Mazepa, an investment banker and Concorde Capital CEO, is confident that a high demand for suburban real estate marks a turning point to a strong and long-term trend 

Igor Mazepa, an investment banker, CEO and Founder of Concorde Capital investment company, gave an exclusive interview to the Zagorodnaya Nedvizimost magazine, sharing recent suburban real estate trends and his impressive track record of investment in the Goodlife Park cottage town and Shelest suburban resort.

Suburban real estate is booming. Will it persist for the long haul? 

"The pandemic has stirred up interest in suburban real estate, which is growing as never before. Crowding in cities is not as safe as it used to be. There is a growing need to be in nature, although the need to socialize does not disappear. This makes cottage communities the best option for living, rest, and recreation. Last year, suburban rent prices went up by 20-50%, with the sale prices for cottages rising proportionally. The development of cottage townships has driven the development of service infrastructure, supermarkets, suburban hotels, restaurants, and spa facilities. This has propelled demand for commercial real estate as well. It is a good story for an investor. I think this marks the beginning of a strong and persistent trend for decades to come," Igor Mazepa told the Zagorodnaya Nedvizhimost magazine.




Why do you invest particularly in suburban real estate?

“I embarked on my investment journey into suburban real estate as back as in 2005 when I had a couple of million dollars available and a friend who offered me to invest in a land plot. These 10 hectares stood idle for a long time until life circumstances brought me there, and I realized that I really wanted to live outside the city. I place high demands on a place to live: there must be a forest and a water body, front line, as I like to walk out of my house, get into a boat, and sail, for example, to Odessa. So I came up with an idea to build for myself and like-minded fellows GoodLife Park cottage community in Vyshgorod District near Kyiv. Then the demand for top-notch real estate at reasonable prices led to an idea of the Shelest  suburban resort, which operates a hotel, restaurant, swimming pool, and other rest and recreation infrastructure. Unlike GoodLife Park, Shelest was a fully informed investment decision. When I bought a land plot for Shelest, I already understood what and how it would look like, how much needed to be invested, and how much the project would generate,” Igor Mazepa shared it with the magazine.

What is key to success of a cottage community?

"Location. Access to woodland and water. Infrastructure, architecture, quality of construction, technology, security. Everything is important. Speaking from experience, I'd say it's all about the sense of place and the quality of service. In GoodLife Park, we feel ourselves like in a five-star hotel where all our needs are met 24/7 and, at the same time, like in the company of close people, neighbors who became friends long time ago,” said Igor Mazepa.

Is there any tool helping create this sense of place?

“There is no special tool; this requires complex efforts. But as an example, I can share one aspect with you. We do not have fences inside GoodLife Park at all, and if a potential buyer is fine with it, this is our kind of guy. Anyone who misses three-metre fences around his/her house is not our client. We have no mutual interests. Nevertheless, GoodLife Park is a gated community, with a perimeter fence and a very serious security system,” Igor Mazepa went on to say.




How can one understand that a cottage community project will be successful?

“Suburban real estate would seem to be an obvious investment option, because we see a number of successful projects. Nonetheless, there are plenty of unsuccessful properties that are still unsold. There is no one-fits-all recipe for success. But there is one important rule: you need to choose a reliable partner. It is necessary to check its track record and previous business projects and see whether the partner had any business success. This may be small projects, but completed and successful. Moreover, you need to find your own one-of-a-kind idea and implement it."

Source: Igor Mazepa's exclusive interview for the Zagorodnaya Nedvizhimost magazine https://zagorod.com.ua/category/magazine/

Photo by the Zagorodnaya Nedvizhimost magazine