Ukraine’s construction market is showing mixed trends at the start of 2026: infrastructure and engineering construction remains the main driver, while the residential and part of the commercial segments continue to face pressure from rising costs, limited effective demand, and military risks. However, complete official statistics for January–March 2026 have not yet been published: according to the statistical agencies’ calendar, construction data for January–March is expected to be released in late April, so the current picture as of April 10 is based primarily on January–February results and related first-quarter indicators.
After a 12% increase in the volume of completed construction work in 2025—to UAH 248.1 billion—the market entered 2026 with a higher base, but growth rates began to level off as early as the first few months. In January, the volume of construction work grew by 3.3% year-over-year to UAH 11.254 billion, while building construction declined by 6.5%—including residential construction by 12% and non-residential construction by 4%—while civil engineering added 15.5%. Based on the results for January–February, the market already showed a 1.8% year-over-year decline to UAH 23.04 billion: the residential segment fell by 11.5%, the non-residential segment by 9.5%, while civil engineering structures, conversely, grew by 8.5%.
Rising construction costs remain a separate factor putting pressure on the market. According to the State Statistics Service, in February 2026, prices for construction and installation work rose by 7.2% compared to February of last year, and by 6.5% for the January-February period. In residential construction, price growth over two months was 6.1%, in non-residential construction—6.9%, and in civil engineering—6.4%. This means that even if certain growth areas remain stable, the profit margins of developers and contractors remain under pressure, especially in projects where sales prices or budget limits cannot keep pace with rising construction costs.
The residential segment, meanwhile, continues to present a mixed picture. On the one hand, the National Bank noted in its January inflation report that in the fourth quarter of 2025, the number of projects where construction began rose by 19% year-over-year, including a 77% increase in residential projects, and the number of buildings commissioned increased by 21%, including residential housing—by 40%. On the other hand, the NBU noted in its December Financial Stability Review that sales in unfinished projects remain sluggish, especially in the early stages of construction and in less secure regions, and housing prices in most regions are changing only slightly, indicating subdued demand.
Preferential mortgages remain a key support mechanism for the primary market. As of early April 2026, banks had issued 2,152 loans totaling 4.19 billion UAH under the “eOselya” program since the start of the year, and a total of 24,765 families have purchased housing since the program’s inception, for a total of 43.1 billion UAH. At the same time, in just one of the latest weekly reports, 101 out of 158 loans were for “first-sale” housing, including 48 loans for apartments in buildings under construction. This confirms that part of the demand for new housing in 2026 continues to be driven by state-subsidized mortgages.
According to Maksim Urakin, founder of the information and analytical center Experts Club, in January–March 2026, the Ukrainian construction market entered a phase of more complex but more mature growth. “It is no longer possible to speak of a single construction boom. Ukraine is effectively operating in three parallel markets: the first is reconstruction and engineering infrastructure, where demand remains stable; the second is the locally active residential segment in relatively safe regions; the third consists of frozen or very slow-moving projects in high-risk zones. The main trend at the start of 2026 is not simply volume growth, but a redistribution of capital toward infrastructure, logistics, industrial, and social real estate,” Urakin believes.
In his assessment, the market will depend on three factors in the coming months: continued funding for reconstruction, the sustainability of the “eOselya” program, and companies’ ability to maintain construction costs. “If state and international reconstruction programs maintain their pace, and mortgage instruments continue to support primary demand, the construction sector will be able to remain in positive territory in 2026. But without an expansion of long-term financing and a reduction in military risks, the housing market will grow in isolated pockets rather than across the board,” noted the founder of Experts Club.
Overall, the start of 2026 shows that Ukraine’s construction market remains vibrant and adaptable, though its growth is becoming increasingly segmented. Infrastructure, logistics, and restoration projects are performing the most steadily, while mass residential construction still depends on security, affordable mortgages, and developers’ ability to finance projects amid rising costs.
CONSTRUCTION MARKET, EXPERTS CLUB, HOUSING, INFRASTRUCTURE, URAKIN
According to Fixygen, the shareholders of Boryspil Building Materials Plant plan to hold a general shareholders’ meeting on April 30. The company operates in the building materials sector and specializes in the production of concrete products for construction. On its corporate website, the company also lists concrete and mortar, reinforced concrete products, floor slabs, piles, lintels, and other building structures among its main areas of focus.
Boryspil Building Materials Plant PJSC is registered in Boryspil, Kyiv Oblast. According to public records, the company was founded on January 26, 1995; its authorized capital is UAH 217,100, and its director is Igor Shalimov. Its primary business activity is the production of concrete products for construction.
According to beneficiary data, Vladimir Shalimov holds a 63% stake and Igor Shalimov holds a 35% stake, giving them direct controlling influence in the company.
According to Opendatabot, the company’s revenue in 2025 was 463.58 million UAH, net profit was 15.57 million UAH, and assets at year-end were 188.0 million UAH. In 2024, the company’s revenue was 553.21 million UAH, and net profit was 9.27 million UAH.
At a meeting in early April 2026, the shareholders of Forte Life Insurance Company (Kyiv) decided to allocate 14 million UAH for dividend payments.
As the company reported in the NSSMC’s disclosure system, the dividend per ordinary registered share will amount to 583.33 UAH. The dividend payment period is from April 21 to May 31, 2026.
According to NSSMC data, Oksana Kuleshina owns 99.8% of the insurer’s shares.
Forte Life Insurance Company (formerly Insurance Union of Life) was registered in 2005 and specializes in providing life insurance services.
According to the NBU, Forte Life collected insurance premiums totaling UAH 83.179 million in 2025 and paid out UAH 18.9 million in claims.
In early 2026, the Bulgarian housing market began to emerge from the frenzy associated with the country’s transition to the euro and is returning to a more stable demand pattern. The number of transactions fell by approximately 10%, while the supply increased by more than 25%, strengthening buyers’ bargaining power and extending the time properties remain on the market.
One of the main factors behind last year’s surge was the so-called “euro effect”—the expectation that housing prices would rise even faster after the currency change. However, judging by current trends, this driver has largely run its course. Bulgaria adopted the euro on January 1, 2026, and Central Bank Governor Dimitar Radev told Reuters that the inflationary effect of the transition turned out to be limited and largely one-time.
At the same time, the market does not appear weak in the classical sense of the word, as it continues to be supported by mortgage lending. Mortgage rates will remain low—around 2.47%—and official data from the Bulgarian National Bank, published via BTA, show that the volume of residential loans to households as of the end of February 2026 grew by 27.8% year-over-year—to €17.299 billion. This indicates that demand from end buyers remains strong, although the speculative component is noticeably weakening.
Thus, the Bulgarian real estate market is not entering a phase of sharp decline but is rather transitioning to a more realistic configuration: less hype, more supply, and a more cautious buyer. For investors, this marks the end of a period when the mere fact of joining the Eurozone automatically fueled expectations of rapid price growth, and for ordinary buyers, it signals the emergence of a more favorable window for selection and negotiation.
Source: https://relocation.com.ua/bulgarias-real-estate-market-is-shifting-from-a-boom-to-a-slowdown/
Ukrainians largely do not support the military using its authority to influence electoral processes, indicating a clear public demand to keep the army out of political struggles, particularly electoral ones. This is evidenced by the results of a study conducted by Active Group.
According to the data presented, the actions by the military that received the most support among acceptable activities were calls for politicians to make decisions in the field of defense (30.2%), publicly expressing a position on draft legislation (15.1%), and establishing veterans’ and civic organizations (14.9%). At the same time, the use of military authority to influence electoral sentiment has the lowest rating—a balance of minus 15.9%, which is the worst result among all options.
Other forms of direct political influence are also viewed negatively, including participation in shaping political decisions (–0.7%), commenting on political processes (–0.7%), and making statements regarding Ukraine’s international policy (–2.6%).
“We see a very clear stance from society: the military can be an authority on defense matters, but this authority should not be carried over into electoral processes. Any attempts to influence electoral sentiment are viewed negatively and effectively delegitimize such involvement. This is an important signal to political actors regarding the limits of acceptable communication with the military,” noted Active Group Director Oleksandr Pozniy.
At the same time, more than half of Ukrainians believe that the military should remain outside of politics during wartime, which indicates society’s demand to preserve the army’s professional role until Victory is achieved.
According to the presented results, 23.1% of respondents unequivocally support the military’s apolitical stance, while another 27.3% tend to support it (50.4% in total). At the same time, 37.6% allow for their participation in politics (23.1% – somewhat opposed, 14.5% – strongly opposed), while another 12% are undecided.
Thus, the prevailing view is that until the war ends, the military should remain focused on performing their immediate duties rather than participating in political processes.
“These results show a clear public demand that the military remain outside of politics until the war ends and concentrate on their key tasks. At the same time, a certain portion of citizens accepts their role in future political processes, but only after Victory,” noted Active Group founder Andriy Yeremenko.
Ukrainians trust the Azov Battalion, the Special Operations Forces, the SBU’s “Alpha” unit, the 2nd Corps of the National Guard of Ukraine (“Charter”), and the 3rd Army Corps the most when it comes to carrying out state tasks. This is according to the results of a survey conducted by Active Group.
When asked which units citizens trust most in carrying out state tasks, respondents most often named the 1st Corps of the National Guard of Ukraine “Azov” (15.2%). Close behind in terms of trust were the Special Operations Forces of the Armed Forces of Ukraine (14.7%) and the Special Operations Center “A” of the Security Service of Ukraine, known by the unofficial name “Alpha” (13.4%).
The 2nd Corps of the National Guard of Ukraine “Charter” received 11.7% of respondents’ support, surpassing the Third Army Corps by 0.7%.
The list of units with a notable level of trust also included the “Kraken” Active Operations Unit of the Main Intelligence Directorate of the Ministry of Defense of Ukraine (7.3%), the 95th Separate Airborne Assault Polissya Brigade (5.4%), and the 93rd Separate Mechanized Brigade “Kholodny Yar” (4.9%). These results indicate stable support for combat units that have a reputation for being effective in carrying out specific operational tasks.
A lower but still noticeable level of trust is demonstrated by the 47th Separate Mechanized Brigade “Magura” (4.5%), the 92nd Separate Assault Brigade named after Cossack Ataman Ivan Sirko (3.9%), as well as the 55th Separate Artillery Brigade “Zaporizhzhia Sich” and volunteer military formations (3.5% each).
“Even the slight difference between the ratings of the ‘Charter’ and the 3rd Corps is telling, as it reflects society’s perception of the units’ roles outside of a political context. Less media-friendly but more apolitical structures may inspire a higher level of trust, especially in wartime, when the key criterion is the fulfillment of tasks,” noted Active Group Director Oleksandr Pozniy.
