Ukrainian businessman Rinat Akhmetov has purchased a five-story luxury apartment in Monaco for EUR471 million ($554 million), Bloomberg reported. According to the report, this is one of the largest known transactions involving the sale of a single residential property in history.
According to the publication, the property is located on the waterfront in the new prestigious Mareterra district, built on reclaimed land and set to open in 2024. The apartments are located in the Le Renzo complex and were purchased by the businessman’s holding company.
Bloomberg reports that the residence has 21 rooms and covers approximately 2,500 square meters, excluding balconies and terraces overlooking the Mediterranean Sea. The article also mentions a private pool, a jacuzzi, and at least eight parking spaces.
The stated amount makes the deal a contender for the largest known residential sale in history, notes Bloomberg. The agency compares it to the recent sale of developer Nick Candy’s London mansion for over $350 million and the purchase of a New York penthouse by Citadel founder Ken Griffin for approximately $240 million.
The property is located in Monaco’s new luxury district, which is already positioned as one of the world’s most expensive residential developments. The Financial Times previously reported that prices in Mareterra reach EUR120,000 per square meter, and the project itself includes 110 apartments, four townhouses, and 10 villas.
According to the Bloomberg Billionaires Index, Akhmetov remains Ukraine’s richest person. A Bloomberg report on the purchase emphasizes that the deal was made by a businessman whose fortune the agency estimates at more than $7 billion.
Rinat Akhmetov is the founder and owner of the SCM Group, whose key interests are concentrated in energy, metallurgy, telecommunications, the banking sector, real estate, and logistics.
In the first half of 2025, 51,500 apartments were commissioned in Ukraine, which is 6.7% less than in the same period last year, according to the State Statistics Service. The total area of new housing was 4.27 million square meters (-6.4%).
The leaders in construction remain the Kyiv region (9,853 apartments), Kyiv (7,380), and Lviv region (5,646, +8.9%). Together, they accounted for almost half of all new construction.
The main breakthrough was in the Odesa region, where 6,570 apartments were completed, which is 56% more than a year earlier. Growth was also seen in the Cherkasy (+51.6%), Mykolaiv (+35.8%), Chernihiv (+24.4%), and Ternopil (+23.7%) regions.
At the same time, a serious decline was recorded in the Kharkiv (-40.4%), Zhytomyr (-37.7%), Zaporizhzhia (-30.6%), Sumy (-29.1%), and Volyn (-27.2%) regions. The reasons for this are proximity to the front line, population migration, and falling demand.
Experts note that the overall decline in volume does not mean a crisis: the market is becoming more multipolar. Kyiv is gradually losing its monopoly, and new construction centers are forming in Odesa and Lviv.
Bank-partner of the state program on affordable lending SKY Bank accredited for participation in the program “eOselia” housing complexes of DIM company, houses No. 4 and No. 6 in LCD LUCKY LAND and house No. 3 of LCD “Metropolis” in Kiev, reported in the press service of the developer.
“SKY BANK JSC welcomes the beginning of cooperation with the leading developer of the capital’s real estate market and continues to implement the strategic mission of the state preferential mortgage lending program “eOselia”, making it affordable for citizens to buy housing at the construction stage,” – quoted in the release Director of Retail Business, member of the Board of SKY BANK JSC Vladimir Chernenky.
Managing partner of DIM companies Alexander Nasikovsky said that DIM regularly receive requests from clients about the possibility of buying an apartment under the state program “eOsel”.
“Everyone should have a house – we are sure of it. Since the beginning of the year we have commissioned more than 1,000 apartments and are actively working on developing comfortable conditions for the purchase of housing for our clients, including working with the state program of affordable housing loans,” said Nasikovsky.
Lucky Land (Berkovetskaya Street, 6) is a residential complex of comfort class, designed as a multifunctional district with developed infrastructure. It assumes 23 buildings 13-14 floors high, 5183 apartments in total, with guest parking for 2,5 thousand and underground parking for 356 cars. Under the program “єOsela” available for mortgage one, two- and three-bedroom apartments with the area from 41 sq.m. in the house № 3, which has already received a certificate of readiness, and houses № 4, № 6, which are scheduled for commissioning in the third and fourth quarters of this year.
You can also buy an apartment under the “eOsel” program in building No. 3 of the Residential Complex “Metropolis” (ak.Zabolotnogo, 1), its planned date of commissioning in the third quarter.
Also available on “eOsela” apartments in the completed housing estate “New Autograph” (Kn. Roman Mstislavicha (Generala Zhmachenko), 26).
As reported, the program of affordable mortgage lending “eOsela” has worked in Ukraine since October 2022. For a preferential mortgage at 3% per annum for up to 20 years with a down payment of 20% of the cost of housing can be claimed by contract servicemen of the AFU, employees of the security sector and defense, medical workers, teachers, researchers.
From August 1, 2023, war veterans, combatants, internally displaced persons (IDPs) and citizens who do not have their own housing larger than the standard area can apply for participation in the “eOsela” program at 7%.
Eight partner banks are integrated into this program: Oschadbank, PrivatBank, Ukrgasbank, Globus Bank, Sky Bank, Ukreximbank, SENS and Bank Credit Dnipro. You can apply for participation in the program in the mobile application “Diya”.
As of April 30, the volume of loans issued under “eOsel” reached UAH 14.9 billion, loans were issued for 9613 families. At the same time, 2.9% of apartments were purchased on the primary market, 71.7% – on the secondary market, 25.4% – from developers.
DIM Group was founded in 2014 and consists of six companies covering all stages of construction. To date, it has commissioned 12 houses in six residential complexes with a total residential area of more than 218 thousand sq. m. Six residential complexes of “comfort +” and “business class” category are under construction: “New Autograph”, “Metropolis”, Park Lake City, Lucky Land, A136 Highlight Tower, Olegiv Podil.
In Ukraine in January-March 2023, 1.942 million square meters of housing was commissioned, said the State Statistics Service (Derzhstat).
According to the report, the total is 24905 apartments, of which 4922 in single-family houses, 19983 – in apartment buildings.
Most of the housing is commissioned in the Vinnitsa region – 5669 apartments. In the Kiev region 3621 apartments were added to the housing fund, 2312 in the Kiev region, 1847 in the Lviv region, 1580 in the Ivano-Frankivsk region, 1166 in the Odessa region, 1126 in the Dnipropetrovsk region, 1052 in the Volynsk region, Cherkassy – 891, Kharkiv – 888, Transcarpathian – 795, Ternopil – 703, Rivne – 683, Poltava – 637, Khmelnytsky – 563, Chernivtsi – 530, Sumy – 333, Zhytomyr – 231, Chernihiv – 132.
Less than a hundred new apartments were commissioned in the regions of Mykolaiv (79), Kirovograd (50), Zaporizhzhia (12) and even in Donetsk (5). Not a single new dwelling was commissioned in the first quarter of 2023 in Lugansk and Kherson regions.
Data for the first quarter of 2022 Gosstat did not publish. At the end of 2022, the commissioning of housing in Ukraine decreased by 37.8% compared to 2021 – up to 7 million 110.2 thousand square meters. m.
More than 35 thousand apartments were commissioned in Ukraine in 2022, most of them – in Kiev and the region, according to the real estate portal LUN.
According to its data, about 13.2 thousand apartments were commissioned in Kiev, 7.2 thousand – in the Kiev region. Lviv is also among the leaders – 3.8 thousand, Odessa – 2.3 thousand, Ivano-Frankivsk – 1.6 thousand apartments.
Most queues of new buildings which received a certificate of commissioning were recorded in the Kiev region (66), Kiev (40) and Lviv (32). Over ten queues are also commissioned in Ivano-Frankivsk (17), Odessa (12), Ternopil, Lutsk and Khmelnytsky (10).
At the same time, the number of objects at the start of construction in 2022 was halved: as for the third quarter, construction began on 68 thousand new apartments, according to the portal.
According to LUN, interest in buying a home has decreased by half compared to the prewar beginning of the year. Thus, in Kiev the figure is 45% of February, in Lviv – 54%, Odessa – 43%, Uzhgorod – 68%, Dnipro – 57%.
At the same time the cost of housing has increased despite the decline in demand. According to the portal, the cost per square meter in the most popular class of housing – “comfort” – in the capital increased by 37% to 37 thousand UAH, in Lviv – by 60%, to 38.3 ths. In Lviv – 60% increased up to 38.3 thousand UAH, in Uzhgorod – 57% up to 34.2 thousand UAH, in Ivano-Frankivsk – 63% up to 222 thousand UAH, in Odessa – 56% up to 35.9 thousand UAH, in Dnipro – 44% up to 33.1 thousand UAH, in Poltava – 37% up to 30 thousand UAH.
By the end of the year the cost of the cheapest one-bedroom apartment in Kiev increased by 66% since the beginning of the year and is 2.3 million UAH, 2-bedroom – “plus” 70%, 3.2 million UAH, the price of 3-bedroom increased by 76% to 4.4 million UAH.
LUN estimated that the number of new buildings available for sale in Kiev is 83% (182 new buildings by the end of the year) from the prewar beginning of the year, in Lviv – 103% (121 new buildings), in Odessa – 72% (79 objects), in Dnipro – 63% (42), Ivano-Frankovsk – 98% (70), in Khmelnytsky – 77% (56), in Ternopil – 132% (69).
“Due to the war and losses in the economy, housing has become less affordable, and the need for it – much more acute. It can already be argued that more than 1 million families in Ukraine need new housing. It is impossible to satisfy this demand with the apartments that have already been built, because so many apartments are not on sale, and that is why Ukraine is waiting for the Big Housing Construction phase. The state understands this and has plans to expand the scale of preferential mortgages, but this will still not be enough to cover the needs of IDPs, so we expect further steps from the authorities”, – summarized Denis Sudilkovsky, marketing director of LUN.
LUN, through its international brand Korter, has sold more than 200 apartments abroad, LUN development director Andriy Mima told Interfax-Ukraine.
“During the nine months of this year, we sold more than 200 apartments abroad, most of them in Georgia. In September, we unexpectedly received our first income in the UAE: a buyer bought an apartment from a developer through our website https://Korter.ae, and we received this is a commission,” Mima said.
He recalled that Korter is an international brand of LUN, with a similar product, a catalog of new buildings. The service launched a few years ago in several countries in Europe, Asia and the Middle East. At the same time, Korter’s business processes are slightly different from the parent company.
“In some countries, developers are not used to paying for marketing, so our business model “like in Ukraine” did not work. But they are happy to pay success-fee in the form of a commission. We had to restructure business processes to bring buyers from the site directly to sales departments,” Mima explained.
According to Mima, the user contacts the support service, Korter agents help him complete the transaction. For example, if necessary, the client is met at the airport and brought to the sales department.
He added that at present, the company’s international revenue exceeded its domestic one.
