Ukraine's housing market remains depressed
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Loading... - Katrien Vliet
- 03 Oct 2022
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Secondary market apartment prices in Kiev fell by 6.43% (inflation-adjusted) during the year to Q2 2022 with an average price of US$ 1,106 per square metre (sq. m.), following y-o-y contractions of 5.67% in Q1 2022, 3.09% in Q4 2021, and 1.37% in Q3 2021. On a quarterly basis, real house prices fell by 2.62% in Q2 2022.
Gloomy outlook
Ukrainian house prices are expected to continue falling sharply in the medium term, amidst the ongoing Russia-Ukraine crisis. The war resulted to Europe’s fastest-growing refugee crisis since World War II, with more than 6.7 million Ukrainians fleeing the country and a third of the population displaced.
Ukraine’s house prices have been generally falling in the past eight years, particularly in 2014 because of hryvnia devaluation due to the Russian war. Currently, house prices are about 77% (inflation-adjusted) below their Q3 2008 peak of US$3,627 per sq. m, according to S&V Development. Read More...
