According to the think tank Experts Club, Kyiv ranked 36th out of 37 European cities in the Global Property Guide’s housing cost ranking, according to data from the updated “Square Meter Prices in European Cities” table for April 2026, published on the study’s website.
The average housing cost in the Ukrainian capital is estimated at €1,970 per square meter. Over the past year, the figure has risen by 2.6%, and over two years—by 0.9%.
In the ranking, Kyiv emerged as one of the most affordable markets in Europe. Only Chisinau ranks lower than the Ukrainian capital in the table, where the average price of apartments is 1,720 euros per square meter. At the same time, Kyiv is cheaper not only than Western European capitals but also than most cities in Central and Southeastern Europe.
For comparison, in Belgrade the average price of new properties is 3,333 thousand euros per square meter, in Podgorica—2,141 thousand euros, in Bucharest—2,250 thousand euros, in Sofia—€2,300, in Athens—€2,500, in Budapest—€3,061, and in Zagreb—€3,781
Kyiv’s low ranking in the European table reflects the war’s impact on the real estate market, investment risks, limited external demand, and buyer caution. Unlike many European capitals, where prices are supported by mortgages, migration, and stable investment demand, the Ukrainian market remains dependent on security, macroeconomics, and the recovery of business activity.
At the same time, positive annual dynamics indicate that the Kyiv market is not in a state of sharp decline. Year-over-year growth of 2.6% indicates the presence of domestic demand, particularly in the segments of completed housing, high-quality properties, and locations with developed infrastructure.
Kyiv remains Ukraine’s largest real estate market and the country’s main hub of business activity. It accounts for a significant portion of the demand for residential, office, retail, and rental properties. Once the active phase of the war ends, the capital could become one of the key hubs for the recovery of investment activity.
For now, Kyiv remains one of the most affordable major European cities in terms of housing costs in euros. For potential investors, this may mean a low entry threshold, but at the same time, a high level of country, military, and regulatory risk.
The Global Property Guide study is available at: https://www.globalpropertyguide.com/europe/square-meter-prices
