The Situation on the Real Estate Market in Ukraine has Changed: What About Renting and Buying a Home.
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Loading... - Christina Bruce
- 09 Sep 2024
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The real estate market in Ukraine has experienced significant changes, with increased demand for apartments and rising prices in both the primary and secondary markets. According to a study by DIM.RIA, sales departments have resumed work in 77% of new buildings, and 23 new buildings have been commissioned in Ukraine since the beginning of summer.
The primary market has seen a slight decrease in the average price per square meter in dollar terms in most regions, but year-on-year growth has been observed in half of the regions. The most rapid price growth has been noted in Kirovohrad, Ivano-Frankivsk, Chernivtsi, Volyn, and Cherkasy regions. Kyiv remains the most expensive region in the primary market, with an average price of $1,338 per square meter.
In the secondary market, the number of offers has increased in Kyiv, Ivano-Frankivsk, and Zaporizhzhia regions, while decreasing in most other regions. The sale price of a one-bedroom apartment has fluctuated in most regions, with the highest growth observed in Volyn, Chernivtsi, and Ivano-Frankivsk regions. Kyiv remains the most expensive region, with an average price of $85,845 for a one-bedroom apartment.
The rental market is also experiencing growth, with the number of housing offers increasing in Volyn, Ivano-Frankivsk, Lviv, and Zakarpattia regions, while declining in central regions, including Kyiv. Kyiv remains the most expensive location for renting an apartment, with an average price tag of UAH 18,205 for a one-bedroom apartment. Prices are rising in other regions, with the most significant increases observed in Zhytomyr, Volyn, and Rivne regions.
The increased demand for apartments and rising prices in both the primary and secondary markets suggest a growing interest in real estate in Ukraine. The rental market is also experiencing growth, with increased demand and rising prices in many regions. The capital, Kyiv, remains the most expensive region for both buying and renting apartments, but offers a range of options depending on the district. The study's findings suggest that the real estate market in Ukraine is recovering and growing, with opportunities for investors and buyers.
The implications of these trends for the Ukrainian economy are significant, as a growing real estate market can contribute to economic growth and development. The increased demand for apartments and rising prices can also lead to increased investment in the sector, creating new opportunities for developers and investors. Additionally, the growth of the rental market can provide more options for those looking for housing, particularly in regions with limited availability.
