The average price for primary residential real estate in Kyiv increased by 16.2% over the six months and amounted to $1,705 per square meter, Corporate Communications Manager at City One Development Halyna Martynenko has told Interfax-Ukraine.
“The growth in prices in new buildings amounted to 9.3% in the second quarter, which is almost the same as Kyiv’s real estate gained for entire 2018, some 10%,” Martynenko said.
According to her, from 2014 to 2017, the average prices for square meters in Kyiv’s new buildings fell in price (by 24%, 12%, 5% and 3% per year, respectively), but in 2018 and 2019 there was an increase – by 10% and 22%.
“The coronavirus 2020 showed stability – a decrease by a symbolic 0.1%. It is highly likely that, in general, by late 2021, real estate will return growth rates at the level of 2019,” Martynenko said.
According to an analytical report by City One Development, the business class increased in price the most in Kyiv market – in the first half of 2021, the square meter rose in price by 22%, to $2,252. The most stable was the premium (elite) class – an increase of 9%, to $3,571 per square meter. The economy class has risen in price by 15%, to $978 per square meter, and the comfort class – by 17%, to $1,205 square meter.
In general, there are 186 objects in the primary market of Kyiv. More than 40% of them are positioned in the comfort class. The third is business class. Less than 10% – the premium, elite class.
“Once the most capacious segment of the economy occupies today only 15% of the market. It has shrunk over the year from 18% to 15% and continues to decline,” Martynenko said.
According to the analytical report by City One Development, in the second quarter of 2021, sales started in 11 new residential complexes, in total it is more than 4,000 apartments.
The economy class is represented by the only project, Navigator2 from DBK-Zhytlobud developer, for 1,350 apartments. The comfort class – four projects, together for 1,415 apartments, and the business class – five projects with a total of 908 apartments. The premium class is represented by one project for 86 apartments.