The Ukrainian real estate marketplace DIM.RIA and the Association of Realtors of Ukraine have released a joint study of the real estate market in the fall. It analyzed how the price of housing for sale and rent changed, as well as the amounts at which buyers and tenants ultimately concluded agreements with owners.
Primary market
Supply.
As of the end of November 2024, sales departments in 77% of new buildings were active. In the autumn period, 40 new buildings in 72 sections were commissioned in Ukraine: most of them in Kyiv region (excluding Kyiv) – 12 new buildings, 8 new buildings in Lviv region, and 5 in the capital.
Prices.
The average price per square meter in dollar terms increased in almost every region of Ukraine during the fall. Analysts noted the most rapid price growth in Rivne, Mykolaiv, Zakarpattia and Vinnytsia regions: +5-7% in dollar terms over three months. Kyiv remains the most expensive city on the primary market with an average price of $1,341 per m².
Demand
During the fall, DIM.RIA analysts noted a significant revival of interest in primary housing among users in the central and some western regions. The number of search queries related to new buildings increased the most in Cherkasy region (+15%) compared to the summer.
Secondary market
Price
In the fall of 2024, the price indicated by owners of one-room apartments in their sales offers increased in most regions. The most significant price increase occurred in Zakarpattia and Rivne regions (+19% each). Chernivtsi, Kyiv, Khmelnytsky, and Poltava regions maintained their prices for secondary housing at the level of the end of summer. The decline in prices occurred mainly in those regions close to the border with the aggressor country.
If we look at the capital in more detail, the most expensive in terms of prices in the offers on DIM.RIA are Pecherskyi ($132 thousand) and Shevchenkivskyi ($98 thousand) districts.
Among the average amounts of transactions concluded on the real estate market in November, Pecherskyi and Shevchenkivskyi districts will also be the most expensive. However, according to the Association of Real Estate Professionals of Ukraine, people buy there at lower prices: on average, one-bedroom apartments in Pechersk are sold for $98 thousand and $82 thousand in Shevchenkivskyi.
The average amount of a transaction for the sale and purchase of a one-room apartment in all districts of Kyiv is $69 thousand, and in the region – $64 thousand.
Interesse
Im September-November belebte sich in den meisten Regionen das Interesse der Nutzer an Zweitwohnungen, wobei der größte Anstieg der Suchanfragen in den Regionen Volyn und Chernivtsi zu verzeichnen war (+40% bzw. +39%). In der Hauptstadt war das Interesse am Kauf von Zweitwohnungen im Vergleich zum Sommer um 7 % geringer, in der Region Kiew um 3 % höher.
The number of user reviews traditionally exceeds the number of ads posted. In the capital, demand is more than twice as active as supply.
The rental market
Supply.
In the rental market, the number of housing offers for rent increased in most regions compared to August this year. The largest increase was recorded in Khmelnytsky, Odesa and Kharkiv regions.
Price
The most expensive location for renting an apartment remains Kyiv with an average price tag of UAH 17,918 for a one-bedroom apartment. During the fall, the average cost of a one-bedroom apartment in the capital decreased by almost UAH 300. The highest price increases were recorded in Chernivtsi (+32%) and Zakarpattia (+17%) regions.
Property owners in the capital can choose an apartment for different budgets depending on the district: from UAH 11.7 thousand in Desnianskyi district to UAH 22.3 thousand in Shevchenkivskyi district.
According to analytical data from the Association of Real Estate Professionals of Ukraine, in some districts, transactions are ultimately concluded for lower amounts. Thus, in November, the average price for a one-bedroom apartment in Desnianskyi district was UAH 10 thousand, in Sviatoshynskyi district – UAH 12 thousand, and in Dniprovskyi district – UAH 13 thousand.
Interest
The number of responses to rental offers in September-November in Kyiv was many times higher than the number of offers posted by owners on the marketplace. A similar situation continued to be observed in other regions of Ukraine.
The analytical center of the Ukrainian real estate marketplace has studied changes in the primary and secondary real estate market and the rental housing market. Experts noted a high demand for the number of ads for the rental and sale of secondary housing, as well as higher prices in such offers.
Primary market
Supply.
At the end of October 2024, sales departments in 77% of new buildings remained active. Over the past month, 11 new buildings with 25 sections were commissioned in Ukraine, including two new buildings in Kyiv and four in the Kyiv region.
Prices.
The average price per square meter in local currency increased slightly in most regions of Ukraine during the month. Year-on-year prices also mostly increased in the regions far from the combat zone, most of all in Kirovohrad, Volyn and Ivano-Frankivsk regions (11-20%). Kyiv remains the most expensive city on the primary market with an average price of $1,330 per m².
Demand
October was marked by a decline in interest in primary housing among users from all regions. The most significant decline in the number of interested users compared to September occurred in Zaporizhzhia and Kharkiv regions (-43% and -37%, respectively).
Secondary market
Supply.
In October, the number of offers on the secondary housing market increased in Kyiv, Chernihiv, Rivne, Zaporizhzhia and Ivano-Frankivsk regions. Compared to October 2023, the number of offers increased mainly in the western regions of Ukraine.
Price.
DIM.RIA analysts noted that the sale price of a one-bedroom apartment in October fluctuated in most regions within a few percent, while compared to the data for October 2023, it mostly increased. Over the month, Zakarpattia (+9%) and Rivne (+10%) regions showed the highest growth. Kyiv remains the city with the most expensive housing: in October, owners offered buyers to pay an average of $83.7 thousand for a one-bedroom apartment. If we consider the capital in more detail, the most expensive is the Pecherskyi district with an average price of a one-bedroom apartment of $133.9 thousand, and the most budgetary is the Desnianskyi district, $43.8 thousand.
Demand
During the month, users’ interest in secondary housing also declined, most strongly in Zaporizhzhia, Mykolaiv and Chernihiv regions. However, the number of user responses in each region exceeded the number of ads added.
The ratio of the number of purchase ads to the number of responses to them in October was 1:3 in Kyiv, 1:5 in Lviv region, 1:4 in Dnipropetrovska, 1:3 in Odesa and 1:6 in Kharkiv.
Rental market
Supply.
In the rental market in October, the number of housing offers increased in all regions except Ivano-Frankivsk, Zakarpattia, Volyn and Rivne regions. Significantly more new offers compared to September appeared in Kirovohrad, Khmelnytskyi, Dnipro and Kyiv regions.
Price
October brought a slight decline in rental prices in half of the regions of Ukraine, in particular in Kirovohrad and Khmelnytsky. Nevertheless, rental prices increased across the country. Kyiv remains the most expensive city for rent, where owners on average offer UAH 18,218 for a one-bedroom apartment. The lowest prices in Kyiv can be found in the Desnianskyi district, with an average of UAH 12,840 per one-bedroom apartment, while the most expensive district is Shevchenkivskyi, with an average monthly rent of UAH 22,679.
Demand
In October, users searched for rental housing less compared to September. The most significant outflow occurred in Odesa (-25%) and Volyn (-20%) regions. During the year, interest in renting revived in Lviv, Ternopil, Chernivtsi and Odesa regions.
In October, the ratio of the number of rental ads to the number of responses to them was 1:4 in Kyiv, 1:15 in Lviv region, 1:10 in Dnipropetrovs’k region, 1:14 in Odesa region and 1:13 in Kharkiv region.
The report file is at the link!
The Ukrainian real estate marketplace DIM.RIA analyzed how the Ukrainian real estate market has changed as of the end of summer 2024. The analytical study includes the state of the primary and secondary housing sales market, the state of the rental market, and the behavior of Ukrainians looking for apartments.
Primary market
Supply.
As of the end of August 2024, sales departments in 77% of new buildings were active. Since the beginning of the summer, 23 new buildings with 72 sections have been commissioned in Ukraine: 6 in Kyiv and Lviv regions, 5 in Ivano-Frankivsk region, 2 in Dnipropetrovs’k and Odesa regions, and one in Zhytomyr and Khmelnytsky regions.
Prices
The average price per square meter in dollar terms slightly decreased in almost every region of Ukraine in August, but year-on-year growth was observed in half of the regions. Analysts noted the most rapid price growth in Kirovohrad, Ivano-Frankivsk, Chernivtsi, Volyn and Cherkasy regions. Kyiv remains the most expensive in the primary market with an average price of $1,338 per m².
Demand
In August, DIM.RIA analysts noted a significant revival of interest in primary housing among users from all regions, but the downward trend in activity continued on a yearly basis. It bypassed only the Kyiv region, where users made one and a half times more search queries compared to August 2023, and the Zhytomyr region, where searches also increased slightly.
Secondary market
Supply.
In the secondary housing market, the number of offers increased the most during the year in Kyiv, Ivano-Frankivsk and Zaporizhzhia regions, while in most other regions it decreased, sometimes by more than 50% (Kharkiv and Sumy regions). Also, much fewer owners began to offer their homes for sale in Dnipropetrovska, Odesa and Zaporizka oblasts: the number of ads there decreased by 37-47% during the year.
Price
In August 2024, the sale price of a one-bedroom apartment fluctuated in most regions within a few percent, while it mostly increased compared to the data for August 2023. Volyn, Chernivtsi, and Ivano-Frankivsk regions showed the highest growth. Kyiv remains the most expensive city: owners in the capital ask an average of $85,845 for a one-bedroom apartment.
Looking at the capital in more detail, Pecherskyi district remains the most expensive with an average price of a one-bedroom apartment of $110,969, while the lowest price is reported by homeowners in Desnianskyi district – $48,487.
Interest
In August, users’ interest in secondary housing revived in most regions, with the largest increase in search queries occurring in Odesa and Lviv regions. However, in comparison with the current and last year’s situation, all regions began to receive fewer search queries for the purchase of housing. Kherson and Sumy regions lost the largest percentage of buyers, and Ivano-Frankivsk, Cherkasy, Kirovohrad, Volyn, Chernivtsi, and Lviv regions experienced a significant decline in interest: from -40% to -46%.
Despite the decline in search queries, the number of user reviews everywhere exceeds the number of ads posted. The five regions where demand exceeds supply the most are Volyn, Ternopil, Vinnytsia, Chernivtsi, and Zhytomyr, where there are an average of 12-23 responses per new ad. The largest number of ads and responses to them is in the capital, but there is almost no gap between supply and demand there.
Rental market
Supply.
In the rental market, the number of housing offers in Volyn, Ivano-Frankivsk, Lviv, and Zakarpattia regions increased by one and a half to two times compared to August of the previous year. At the same time, analysts noted a decline in the number of housing in the central regions, including Kyiv.
Price
Kyiv remains the most expensive location for renting an apartment with an average price tag of UAH 18,205 for a one-bedroom apartment. Over the past month, housing prices in the capital rose by 1%, and over the past year, the increase was 18%. Prices are also rising in other regions, most actively in Zhytomyr, Volyn, and Rivne regions (from +39% to +114% over the year).
The capital allows you to choose more affordable housing depending on the district. The lowest prices can be found in the Desnianskyi district, with an average of UAH 10,293 for a one-bedroom apartment, while the most expensive is the Shevchenkivskyi district with an average monthly rent of UAH 23,408.
Interest
In August, users were more active in searching for housing in Lviv, Odesa, Dnipropetrovs’k, Ternopil, Ivano-Frankivsk regions and in the capital. The number of searches there increased from +12% to +44%.
The ratio of the number of rental ads to the number of responses to them in August in Kyiv was 1:9. At the same time, in the Kyiv region, excluding Kyiv, there were an average of 18 user responses per new ad. Odesa, Khmelnytskyi, Vinnytsia and Ternopil regions also stood out for their high demand relative to supply.
