Kyiv remains near the bottom of the European ranking for rental costs, despite a recovery in demand for high-quality apartments in the Ukrainian capital, according to data from Global Property Guide.
According to the table of median asking rental rates for June 2026, the rent for a one-bedroom apartment in Kyiv is approximately EUR550 per month. Based on this metric, the Ukrainian capital ranks roughly 34th among the 40 European and European-adjacent cities featured in the publicly available section of the Global Property Guide table, when cities are sorted from highest to lowest rent.
Kyiv shares this position with Podgorica, where the median rent for a one-bedroom apartment is also around EUR550. Meanwhile, Belgrade is significantly more expensive—around EUR800 per month—while Bucharest and Athens are around EUR650, and Sofia and Zagreb are around EUR600. Below Kyiv in the table are Chisinau, Tbilisi, Sarajevo, and Skopje.
This is an important signal for the Ukrainian market. On the one hand, Kyiv is no longer among the cheapest cities in the region. On the other hand, rental costs in the Ukrainian capital are still lower than in most capitals of Central and Southeastern Europe, including Belgrade, Budapest, Warsaw, Prague, Bratislava, Bucharest, Zagreb, and Sofia.
Against the backdrop of Global Property Guide data showing rapid growth in rental rates in Russia, Montenegro, Serbia, Hungary, Brazil, and Ireland, Kyiv appears to be a more subdued market. This is not due to a lack of demand, but rather to the impact of the war, migration, security risks, limited effective demand, and high uncertainty for tenants and investors.
According to Global Property Guide, the median asking rent for a 2-room apartment in Kyiv is about EUR850 per month, and for a three-room apartment, it is about EUR1,690. At the same time, Kyiv remains relatively affordable in the one- and two-room apartment segments, but in the three-room apartment segment, it is already comparable to Budapest, Riga, and Vilnius and significantly exceeds Belgrade, Sofia, Zagreb, Podgorica, and Chisinau.
For investors, Kyiv remains a market with elevated risks but also with potential for recovery. Future rental trends will depend on security, the return of residents, the state of the economy, the supply of new housing, mortgage availability, infrastructure, and demand from internally displaced persons, foreign professionals, and businesses.
If the security situation improves and business activity recovers, rental rates could receive an additional boost.
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
