The situation on the real estate market in Ukraine has changed: what about renting and buying a home

Demand for apartments has increased in Ukraine. In the primary real estate market, sales departments resumed their work in 77% of properties. Prices have also risen in the secondary market. Experts note an increase in demand in the rental market.

This is stated in the study of the real estate marketplace DIM.RIA. Thus, in the primary market as of the end of August 2024, sales departments are active in 77% of new buildings. Since the beginning of the summer, 23 new buildings in 72 sections have been commissioned in Ukraine: 6 new buildings in Kyiv and Lviv regions, 5 in Ivano-Frankivsk region, 2 in Dnipro and Odesa regions, and one in Zhytomyr and Khmelnytsky regions.

The average price per square meter in dollar terms slightly decreased in almost every region of Ukraine in August, but the year-on-year growth was observed in half of the regions. Analysts noted the most rapid price growth in Kirovohrad, Ivano-Frankivsk, Chernivtsi, Volyn, and Cherkasy regions. Kyiv remains the most expensive in the primary market with an average price of $1,338 per square meter.

• Secondary market

In the secondary housing market, the number of offers increased the most during the year in Kyiv, Ivano-Frankivsk, and Zaporizhzhia regions, while in most other regions it decreased, sometimes by more than 50% (Kharkiv and Sumy regions). Also, much fewer owners began to offer their homes for sale in Dnipropetrovsk, Odesa, and Zaporizhzhia regions: the number of ads there decreased by 37-47% over the year.

In August 2024, the sale price of a one-bedroom apartment fluctuated in most regions within a few percent, while it mostly increased compared to the data for August 2023. Volyn, Chernivtsi, and Ivano-Frankivsk regions showed the highest growth. Kyiv remains the most expensive: in the capital, owners ask an average of $85,845 for a one-bedroom apartment.

Looking at the capital in more detail, the Pecherskyi district remains the most expensive with an average price of a one-bedroom apartment of $110,969, while the lowest price is reported by homeowners in Desnianskyi district – $48,487.

In August, users' interest in secondary housing revived in most regions, with the largest increase in search queries in Odesa and Lviv regions. However, in comparison with the current and last year's situation, all regions began to receive fewer search queries for the purchase of housing. Kherson and Sumy regions lost the largest percentage of buyers, and Ivano-Frankivsk, Cherkasy, Kirovohrad, Volyn, Chernivtsi, and Lviv regions experienced a significant decline in interest: from -40% to -46%.

• Rental market

In the rental market, the number of housing offers in Volyn, Ivano-Frankivsk, Lviv, and Zakarpattia regions increased by one and a half to two times compared to August of the previous year. At the same time, analysts noted a decline in the number of housing in the 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. Over the past month, housing prices in the capital rose by 1%, and over the past year, the increase was 18%. Prices are also rising in other regions, most actively in Zhytomyr, Volyn, and Rivne regions (from +39% to +114% over the year).

The capital allows you to choose more affordable housing depending on the district. The lowest prices can be found in the Desnianskyi district, with an average of UAH 10,293 for a one-bedroom apartment, but the most expensive is the Shevchenkivskyi district with an average rental price per month of UAH 23,408.

As OBOZ.UA previously reported, in Kyiv in August 2024, the average time interval between the placement of an advertisement and the rented apartment was 5 days, in July it was 6 days, in January 2024 – 11. August- September is traditionally a high season associated with the beginning of the school year, and this year, schools and universities are studying offline.

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