Ukrzaliznytsia carried 625,000 passengers between July 28 and August 3, which is 4.4% or 26,000 more than during the same period in 2024, according to the company’s head, Oleksandr Pertsovsky, in the first issue of the weekly operational statistics on passenger traffic.
“It is important for us to be as transparent as possible so that you can see how tickets for popular destinations are being sold, so we are starting a new tradition: we will share detailed passenger transport statistics on a weekly basis during this peak period,” Pertsovsky said on his Facebook page, responding to criticism of the company for ticket shortages.
According to him, it was possible to increase transportation while reducing the number of cars by nine (three were lost and six became completely unsuitable for operation due to their age limit) through more efficient use of the fleet: on average, one car carried 467 passengers, compared to 436 last year, which is 7.1% more.
Percovsky also emphasized that the number of passengers in children’s groups this year increased by 51% to 30,410 people during the reporting week.
In addition, UZ transported 10,000 military personnel through a special reserve, which is 2.1 times more than during the same period last year.
According to the company’s statistics, the largest number of requests in the app was recorded for train No. 95/96 Kyiv-Rakhiv: 143,100 requests and 5,700 monitoring requests with 1,950 seats available; train No. 81/82 Kyiv-Yasinya: 131,000 requests and 4,700 monitoring checks with 2,810 seats available; and train No. 57/58 Kyiv-Uzhhorod: 112,000 requests and 4,400 monitoring checks with 1,250 seats available.
On these trains, 27% to 33.5% of seats are available for free sale, while 6.5% to 11% are reserved for carpooling, and the rest are for group transportation.
UZ clarified that the highest percentage of children’s groups was on train No. 95/96 Kyiv — Rakhiv — 62% of seats in group bookings, followed by No. 81/82 Kyiv — Uzhhorod — 60% and No. 57/58 Kyiv — Yasinya — 59%.
The company notes that since last year, 95 cars have reached the point where they require expensive repairs, while as of August 3, 1,488 cars were in service on long-distance trains.
As reported, in the first half of 2025, Ukrzaliznytsia increased passenger traffic by 1.2% compared to the first half of 2024, to 13.52 million. This is 23% more than in January-June 2024, as previously reported by the company’s CEO Oleksandr Pertsovskyi on Facebook.
The relocation of Ukrainian businesses abroad, which in 2022 took the form of emergency evacuation, is becoming strategic planning to diversify risks, enter EU markets, and ensure business continuity, according to Kateryna Danilova, partner at Barristers Law Firm.
“While in 2022 relocation was often an emergency evacuation, it is now taking on the characteristics of strategic planning with the aim of diversifying risks, entering EU markets, and ensuring business continuity,” she told the Interfax-Ukraine news agency.
Danilova noted that “since the start of the full-scale invasion, Ukrainian businesses have kept up their interest in relocation, although it’s changed depending on what’s happening on the front lines and the overall economic situation.”
According to the lawyer’s observations, the information technology (IT) sector is the most active in terms of relocation, due to its mobility, focus on global markets, and minimal dependence on physical assets.
“For IT companies, relocation often means opening offices in EU countries to retain their teams, which also allows them to guarantee continuity and stability of services to their clients and simplifies access to international financial infrastructure. Many companies based in Diia.City are setting up overseas hubs while keeping a significant part of their development in Ukraine,” she said.
In addition, according to Danilova, manufacturing companies in light industry, woodworking, component manufacturing, and the food industry are also very active in relocation.
“The main driver for them is the desire to protect production facilities from physical destruction, bring production closer to European consumers, expand the sales market, etc.,” she said.
Agrarian and processing enterprises are also active in relocation, seeking opportunities to create processing capacities in neighboring EU countries to gain access to the market without logistical complications at the border.
In addition, these are companies in the creative industry, consulting, and marketing, which, like IT, are mobile and actively integrating into the European market.
Commenting on the geography of relocation, Danilova noted that the choice of a relocation country depends on many factors, including geographical proximity, logistics, business conditions, the availability of support programs, the tax climate, and cultural and linguistic similarities.
Currently, the main destinations for Ukrainian businesses are Poland, which leads in the number of relocated Ukrainian companies, and Germany, where Ukrainian businesses are attracted by economic stability, access to the largest EU market, and high purchasing power, although this country is “characterized by a higher level of bureaucracy and tax burden.”
In addition, Ukrainian businesses are relocating to Romania and Bulgaria, which are gaining popularity thanks to, in particular, competitive tax rates and lower labor costs, the Czech Republic and Slovakia, which are traditionally attractive due to their cultural proximity and favorable conditions for small and medium-sized enterprises, and the Baltic countries (Lithuania, Latvia, Estonia), which are “interesting for technology and innovation companies due to their developed digital infrastructure and favorable investment climate.”
However, Danilova stressed that “it is legally impossible to transfer an employee from a Ukrainian legal entity to a foreign one, as they are different business entities operating in different legal systems,” but in practice, companies use a number of mechanisms.
These include, in particular, dismissal in Ukraine and employment abroad, which is the most common and transparent mechanism, but requires the employee to obtain a residence and work permit in the country of relocation, or a business trip, which is risky for long-term work abroad.
In addition, companies use mechanisms for concluding civil law contracts, where an employee registers as an individual entrepreneur in Ukraine (or as an individual entrepreneur in the country of relocation) and concludes a service contract with a foreign company. This model is flexible but carries the risk of additional taxes and penalties.
Another common mechanism is intra-corporate transfer (Intra-Corporate Transferee), which is used in EU countries that have implemented the relevant EU Directive, which creates simplified conditions for the temporary transfer of key managers, specialists, and trainees within a group of companies. This requires, in particular, the existence of legally related Ukrainian and foreign companies. Another popular mechanism is outsourcing or “leasing” of employees, which involves removing employees from the payroll on condition that they are hired by a foreign company. However, Ukrainian legislation does not contain clear regulatory provisions governing such legal relations.
Commenting on the pitfalls of Ukrainian legislation in the field of relocation, Danilova noted a number of restrictions in the Ukrainian legal field, in particular, currency restrictions, rules for controlled foreign companies (CFC), transfer pricing (TP), as well as restrictions on travel abroad and the movement of assets.
In addition, banking compliance and opening a bank account for a new company in the EU founded by Ukrainian citizens, the complexity of managing a dual structure, the loss of preferential treatment upon the actual transfer of activities abroad, in particular IT companies, which may lose the advantages of the special legal and tax regime of Dnipro.City, as well as adaptation to foreign legislation.
“Relocating a business abroad is an effective tool for minimizing the risks of war, but at the same time it is a complex legal and organizational project. The success of relocation directly depends on comprehensive strategic planning that takes into account all legal, tax, financial, and operational aspects,” she said.
Barristers, BUSINESS, Danilova, ENTERPRISES, LAWYER, RELOCATION
In July, the National Bank of Ukraine (NBU) increased its sales of foreign currency on the interbank market by $873.6 million, or 30.9%, to $3.69 billion, according to statistics on the regulator’s website.
According to the statistics, the National Bank’s purchases of foreign currency in July fell to $0.83 million from $1.2 million in June, and last week the NBU’s foreign exchange interventions decreased by $171.9 million, or 21.2%, to $639.6 million compared to the previous week.
In July, the official hryvnia to dollar exchange rate strengthened from 41.7788 UAH/$1 to 41.7662 UAH/$1.
In the cash market, the hryvnia exchange rate strengthened by almost 13 kopecks over the month: buying at around 41.48 UAH/$1, selling at 41.58 UAH/$1.
“In July, the dollar to hryvnia exchange rate continued to demonstrate high stability with insignificant intraday volatility that did not turn into trend movements,” said experts from KYT Group, a major participant in the cash foreign exchange market.
They point out that the exchange rate fluctuations do not exceed 0.2%, which indicates an extremely restrained market reaction – especially given the announcement of important macroeconomic signals.
In their opinion, in the short term (one to three weeks), the corridor of 41.40-42.10 UAH/$ will remain in place in the absence of external shocks or surges in demand from importers.
KYT Group analysts expect that in the medium term (up to three months) the exchange rate may gradually shift to 42.30-42.80 UAH/$ in the face of the traditional growth in budget expenditures in the second half of the year, increased imports, or the implementation of the expected September Fed rate cut, which will lead to a correction of the dollar.
In the long term (over six months), experts predict a controlled devaluation trend. According to the baseline scenario, the exchange rate is expected to be in the range of UAH 43.00-44.50/$, provided that the current level of international support, stable reserves, and no unexpected shocks, especially those of a non-economic nature, are maintained.
On July 31, the III UKRAINE INVESTMENT CONGRESS 2025 took place at the Parkovy Exhibition Center — the main event of the year for the investment, construction, and architecture industries.
The event brought together over 4,857 participants: representatives of international and national investors, banks, development companies, industrial groups, municipalities, government agencies, and industry associations.
The congress became a platform for frank dialogue about the future of Ukraine’s investment market, the development of joint reconstruction strategies, and the search for new formats of public-private partnership.
“The main investment today is people. Ukrainians who start businesses even during the war, create jobs, and change communities. Our task is to provide them with the conditions, tools, and partners to scale up.”
The program covered the most pressing aspects of the investment environment.
1. Ukraine’s investment attractiveness.
Participants discussed how to increase confidence in the Ukrainian market, reduce regulatory barriers, and create transparent rules of the game. It was emphasized that the stability and predictability of state policy is a key signal for large investors.
2. Investment and geopolitics.
Panel discussions touched upon the new architecture of international cooperation. Experts emphasized that the war has changed the priorities of global players, and Ukraine should become an example of effective integration into economic alliances through partnerships with international funds and corporations.
3. Capital for ideas: how banks evaluate projects.
Representatives of the banking sector presented criteria for making financing decisions: from a thorough analysis of the business model to an assessment of geographical and security risks.
“Our main task is to build relationships with clients based on trust. If we understand the business and believe in the idea, it is easier to make a positive decision,” said Semen Babaev, Deputy Chairman of the Management Board of PRAVEX BANK.
4. Private investment and insurance mechanisms.
A separate discussion was devoted to investor protection: risk insurance and compensation under international law. This is especially important for small and medium-sized businesses, which are the quickest to respond to reconstruction needs.
5. Alternative energy and distributed generation.
Representatives of the energy sector emphasized that green energy projects are among the most attractive for private investors. The Investment and Development Fund – First, which focuses on financing such initiatives, was presented for the first time.
6. Defense projects and dual-use.
The focus is on attracting private capital to dual-use projects. During the presentation, the launch of Ukraine’s first mutual fund, the Verum One Security Fund, was announced.
7. Development and architecture.
The community of architects called for a change in the urban planning paradigm: the chief architect should not only be the creator of the environment, but also the manager of the community’s investment development.
8. Production of building materials.
Participants agreed that creating their own production facilities is a strategic task that will reduce construction costs and accelerate infrastructure restoration.
“Investment is not just about finance. It’s trust, new technologies, and responsibility for a shared future. We have shown that Ukraine is ready for recovery and open partnerships.”
General Partner: Creator-Bud
General Sponsor: HutJet
Strategic Partners: ViYar, Saint-Gobain, and Regips
Premium Partner: ITUM
Partners: Bang & Olufsen, Zezman, Lizrome, RIEL, Edplit, Laterem, Vlasne misto, Sheriff, Riyako&partners, Metinvest, Ribas hotels Group, BlissGroup, HOLZ, Galleria Porcellanato, Akam, Plitos, DzenResidence, AGT PLUS, Eva Sad, Benjamin Moore, Danapris Doors, ElfDecor, Listelli, Alumil, FitoArt, Matro, HomeStyle, Bonsso, Jung, Arbofari, Galantpol, Decoration Club, EPSA, Skarlat, Skogur, World of Interior Solutions, Rodors, Quarzwerke Group Representative Office in Ukraine, Supermarket of Fittings, Karcas24, UK Expertise, Maestro, Karbosnab, Nova Dacha, Budmall, AS Architecture & Design Building, WoodAndHearts, Varenycia, Studio Design Inspiration
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Organizers: DMNTR Media Group—a team with 25 years of experience in organizing professional events for the architectural, construction, and investment audiences.
Key projects include the Ukrainian Construction Congress, Ukraine Investment Congress, All-Ukrainian Interior of the Year competition, Ukraine Urban Awards, and the Creator of the Year architecture and development award.
The media group also publishes DMNTR magazine and actively develops social media with insights, news, and reports.
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NovaPay Credit, a subsidiary of the international financial services company NovaPay (TM NovaPay) from the Nova group, which is the issuer of NovaPay bonds, received UAH 19.80 million in net profit in the second quarter of 2025, which is 8.2% more than in the second quarter of 2024.
According to the company’s report on its website, gross profit for this period decreased by 5.3% to UAH 23.75 billion, while revenue increased 2.4 times to UAH 125.78 million.
Overall, in the first half of this year, NovaPay Credit increased its net profit by 52.2% compared to the first half of last year, to UAH 53.92 million, gross profit increased by 55.7% to UAH 70.07 million, with revenue growing 2.7 times to UAH 260.36 million.
According to the report, the company’s current accounts receivable for the half-year increased from UAH 784.77 million to UAH 1 billion 61.86 million.
It is noted that proceeds from the sale of bonds in January-June this year decreased slightly compared to January-June last year – to UAH 355.63 million from UAH 369.97 million, as did the costs of their redemption – to UAH 244.92 million from UAH 300 million.
At the same time, proceeds from repo agreements with bonds, which the company offers as an alternative to bank deposits, increased to UAH 705.88 million from UAH 392.25 million, while expenses under such agreements increased to UAH 422.03 million from UAH 320.81 million, and interest expenses increased to UAH 44.19 million from UAH 22.19 million.
As a result, over the first half of the year, liabilities under repo agreements more than doubled, from UAH 224.45 million to UAH 508.30 million, while obligations under bonds increased from UAH 190.32 million to UAH 285.21 million, and accrued interest – from UAH 9.09 million to UAH 39.31 million.
As reported, in 2023, NovaPay made three public issues of three-year interest-bearing bonds of series “A”, “B” and “C”, and last year issued six more series of bonds – “D”, “E”, “F”, “G”, ‘H’ and “I”, and this year – another series “J,” all for UAH 100 million.
According to the report, as of the middle of this year, the total volume of bonds issued amounted to UAH 990 million, of which bonds with a nominal value of UAH 203.09 million were not redeemed. Bonds of series “C” and “I” are sold directly to investors with the right of annual offer, while bonds of all other series are transferred as the subject of a transaction under REPO agreements for a term of up to one year, and the coupon income on them is paid upon maturity.
In early August this year, the National Securities and Stock Market Commission (NSSMC) registered the issue of Series K bonds worth UAH 100 million with a maturity date of August 6, 2028. Their public offering will begin on August 11, 2025, with a nominal interest rate of 18% per annum.
In addition, it was reported that NovaPay Credit will issue series L bonds worth UAH 100 million, which will be the 12th such series in the overall issuance program. It is stated that the funds raised are planned to be used for lending to individuals and legal entities, 80% and 20%, respectively.
According to the prospectus, NovaPay Credit plans to increase its interest income to UAH 802.1 million this year and to UAH 1 billion 515.1 million next year, and to receive UAH 518.9 million and UAH 1 billion 30.6 million in net profit, respectively.
Last year, the company’s net profit grew to UAH 89.2 million from UAH 40.3 million a year earlier, with revenue increasing to UAH 285.6 million from UAH 95.6 million.
The Athens residential real estate market continued to show steady growth in the first half of 2025 amid a recovery in tourism, investment, and economic stability in Greece, according to a market review.The National Bank of Greece recorded a 6.8% year-on-year increase in residential property prices in urban areas in the first quarter of 2025. The price index in nominal terms rose by 8.0% for new apartments and 6.0% for properties over five years old. Growth was 5.5% in Athens, 10% in Thessaloniki, and around 7.3% in other cities.
According to Spitogatos, average asking prices in Athens reached €2,317/m² in the center, €3,222/m² in the north, and €4,000/m² in the south of the city, corresponding to an increase of 7-9% compared to the first quarter of 2024.
Key market drivers:
• Domestic and foreign demand, including thanks to the Golden Visa program
• Infrastructure transformations, including the Ellinikon project on the Athens coast
• Limited supply of quality properties and a shortage of premium housing
Investment in residential and commercial real estate in Greece exceeded €5.9 billion in 2024, of which more than €3 billion was in the residential segment. In the first quarter of 2025, FDI inflows into the real estate sector amounted to approximately €520 million (43% of total investment inflows into the country).
Experts predict that during 2025, price increases will slow to around 4-6%, especially in Athens, and the market will move to more moderate price growth rates after the turbulent dynamics of 2022-2023.
Forecast for August-September 2025
Analysts expect prices to continue rising in central Athens despite seasonality and a possible slowdown in demand, as favorable factors remain in place: the tourist season, foreign investor activity, a construction shortage, and the Golden Visa program.
In August, demand remains strong, especially for apartments ranging from 60 to 80 square meters. In September, there may be moderate stagnation or a slight correction amid expectations of ECB decisions and a seasonal slowdown in activity, but overall the market will remain stable, with potential for growth by the end of the year.
Source: http://relocation.com.ua/athens-residential-real-estate-market-analysis-by-relocation/
