Foreign developers and investors have been showing interest in the Ukrainian housing market even during the war; however, to launch large-scale projects, they need clear government regulations and a functioning financing model for affordable and social housing, according to Alexei Koval, CEO of Perfect Group.
“Even now, Italians, Austrians, and Germans are watching us,” he said in an interview with Interfax-Ukraine published on September 1, 2026.
In his assessment, foreign companies could enter Ukraine with cheaper European credit capital and work on specific reconstruction projects.
One of the main constraints remains the lack of a detailed government model for social and affordable housing, including construction volumes, requirements for housing projects, financing mechanisms, and categories of future residents.
At the same time, mechanically transferring European construction models to Ukraine may prove economically inefficient. Koval noted that the modern modular and prefabricated technologies offered by Western companies in some cases have a cost price exceeding EUR 1,000 per square meter, excluding land, foundations, and utility connections.
Taking into account additional expenses, the final cost of such housing could reach approximately EUR1,400 per square meter, which, for the Ukrainian market, already corresponds to the selling price of some properties rather than the construction cost.
According to the head of Perfect Group, foreign technologies will have to be adapted for Ukraine to account for safety requirements, the population’s purchasing power, and the local cost structure.
The company is also studying foreign real estate markets on its own, particularly Spain, Poland, and the Czech Republic; however, it has no immediate plans to invest outside of Ukraine. Perfect Group is considering the possibility of international diversification for the period following the end of the full-scale war.
Perfect Group was founded in 1991 and specializes in residential, commercial, and resort real estate.
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