According to Experts Club, residential construction volumes in Ukraine from January through September 2026 fell by 1.9% compared to the same period in 2025, marking the smallest decline among the main segments of the construction market, according to an analysis of State Statistics Service data conducted by the Experts Club analytical center.
In September, residential construction showed a 5.7% increase year-over-year, and compared to August, the volume of work increased by 14.6%.
Overall, Ukraine’s construction industry contracted by 5.1% over the nine-month period, to 194.5 billion UAH in current prices.
According to Experts Club’s assessment, the relative stability of the residential segment may be linked to the continuation of construction on previously started projects, the implementation of projects to restore damaged housing stock, and sustained demand in certain regions of the country.
At the same time, rising construction costs remain a significant limiting factor. In September 2026, prices for construction work were 27.1% higher overall than in September of the previous year.
The future outlook for the residential sector will depend on the availability of mortgage financing, developers’ investment activity, and the implementation of government and international housing reconstruction programs.
Source: Experts Club research – https://www.experts.news/posts/budivelnyy-rynok-ukrayiny-za-devyat-misyatsiv-2026-roku-skorotyvsya-na-51-analiz-experts-club
According to Experts Club, the production of construction output in the nonresidential building segment in Ukraine for January–September 2026 declined by 7.2% compared to the same period last year, as shown by an analysis of data from the State Statistics Service conducted by Experts Club.
Nonresidential construction showed the largest decline among the three main categories of construction work. By comparison, residential construction fell by 1.9%, and civil engineering by 4.7%.
The trend in September proved particularly unfavorable. While the total volume of construction output increased by 23.2% compared to September 2025, non-residential construction declined by 13.2%.
This segment includes industrial, warehouse, retail, office, administrative, and other buildings not intended for permanent residence.
According to Experts Club analysts, the key risks for investments in non-residential real estate remain the security situation, rising construction costs, the cost of financing, and uncertainty regarding project payback periods.
At the same time, certain categories of commercial real estate—particularly logistics and manufacturing facilities—may see additional demand due to the relocation of businesses and the restructuring of transportation routes.
Source: Experts Club study – https://www.experts.news/posts/budivelnyy-rynok-ukrayiny-za-devyat-misyatsiv-2026-roku-skorotyvsya-na-51-analiz-experts-club
Ukrainian developer Standard One, together with investment company S1 REIT, has launched a program for purchasing apartments in the S1 Pozniaky income-generating residential building in Kyiv through the gradual accumulation of investment certificates. The program provides an opportunity to reserve a property once the value of the certificates reaches 20% of the price of the selected apartment, the companies said in a press release published by the Interfax-Ukraine news agency on November 14.
According to the companies, program participants can invest in the S1 Pozniaky fund without mandatory monthly payments or a fixed contribution schedule. The minimum initial investment is UAH 1,000, while subsequent contributions can start from UAH 100.
When the value of accumulated certificates reaches 20% of the price of the selected apartment, the investor becomes eligible to apply for its reservation. After the reservation is confirmed, the price per square meter is fixed in US dollars.
According to Standard One representatives, this mechanism allows potential buyers to gradually accumulate funds for real estate without assuming obligations to make regular payments.
“Buyers often already know which apartment they need, but they are not yet ready for a large initial payment or regular payments. Together with S1 REIT, we have proposed another approach: start with an affordable amount, accumulate funds at your own pace, and when there are enough certificates to make a reservation, choose a specific apartment and lock in its price,” said Standard One Commercial Director Nadiia Rybakova.
According to her, if the buyer’s plans change, they can remain an investor in the fund and be eligible for investment income in accordance with the terms of its operation.
Legally, the program involves two separate transactions: the investor’s sale of the fund’s certificates under specified conditions and the subsequent purchase of an apartment under an agreement with the developer. If the proceeds from selling the certificates are insufficient to pay for the property in full, the buyer can cover the difference with their own funds.
Standard One notes that fixing the price per square meter after reservation allows the investor to plan the subsequent purchase of the apartment regardless of any potential increase in its market price.
The program applies to selected apartments in the S1 Pozniaky income-generating residential building, which Standard One is developing near Lake Sribnyi Kil, a two-minute walk from the Pozniaky metro station in Kyiv.
The complex’s concept combines residential apartments, coworking facilities, recreational spaces, and everyday services. The apartment price includes white-box finishing, furniture, and household appliances.
After purchasing the apartment, the owner will be able to use it for personal purposes or rent it out.
The building is scheduled to be commissioned in 2028.
A separate component of the program is the possibility of earning investment income during the accumulation period.
According to S1 REIT, the fund’s financial model during the construction phase provides for an increase in asset values and a corresponding increase in the value of investment certificates. The projected return is 9% per annum in US dollar equivalent.
At the same time, the company emphasizes that this return is projected and is not guaranteed. The actual financial result will depend on the value of the fund’s assets, market conditions, and other investment risks.
The program provides several options for the investor’s subsequent actions. In addition to purchasing an apartment, a participant can remain in the fund and, after rental operations begin, receive dividends if the relevant conditions for their payment are met.
Another option is to sell the certificates after the building is commissioned, in accordance with the fund’s rules. In this case, the financial result will depend on changes in their value and the conditions for exiting the investment.
Detailed participation conditions, the reservation procedure, and the mechanism for selling certificates are available on the official S1 Pozniaky fund page.
Standard One is a Ukrainian developer that is developing the format of income-generating residential buildings with ready-to-use apartments and infrastructure for living, working, and recreation. The company’s projects include S1 VDNG and S1 Pozniaky. Detailed information about the developer is available on the official Standard One website.
S1 REIT is an investment company that develops funds for investment in income-generating real estate. Its model involves raising investors’ funds through investment certificates and subsequently directing the capital into real estate properties. Investors’ income may be generated through changes in the value of the fund’s assets and proceeds from rental activities.
Source: Interfax-Ukraine, press release dated November 14, 2026.
CONSTRUCTION, INVESTMENT, KYIV, REAL ESTATE, S1 REIT, Standard One
Between January and October 2026, foreign buyers signed contracts to purchase 6,994 properties in Cyprus, accounting for 41.8% of all registered real estate purchase agreements. Citizens of the United Kingdom, Israel, Russia, Greece, and Lebanon remain the most active foreign buyers on the island, according to an analysis of statistics from the Cyprus Department of Land Resources and previously published data from the country’s Ministry of the Interior.
According to information from the Cyprus Department of Land and Surveying (DLS), 16,741 real estate purchase agreements were registered in the country from January through October, which is 13% more than during the same period in 2025.
In particular, buyers from countries outside the European Union signed contracts to purchase 4,684 properties, a 19% increase from the previous year. Citizens of other EU countries purchased an additional 2,310 properties under registered contracts, increasing the figure by approximately 18%.
Thus, buyers from third countries accounted for about 67% of all contracts related to foreign demand, while EU citizens accounted for 33%.
At the same time, the figure of 41.8% reflects the share of foreigners in registered contracts, not in completed transfers of ownership. From January through September 2026, foreigners obtained ownership of 3,433 out of 16,525 properties transferred to new owners, or 20.8%.
The difference is explained by the fact that the signing of a contract and the final registration of ownership may occur at different times, especially when purchasing real estate under construction.
The highest concentration of foreign demand is observed in the resort town of Paphos, where, over the first ten months of 2026, foreigners accounted for 2,319 contracts, or 68.7% of the total.
Limassol ranked second in terms of the number of foreign purchases, with 2,052 contracts, representing 38% of the local market.
In Larnaca, foreign buyers registered contracts for 1,745 properties, accounting for 47.5% of the market. In Famagusta, this figure stood at 341 properties, or 46.6%.
The capital city, Nicosia, showed the least dependence on foreign demand. Here, foreign buyers accounted for 537 contracts, or 15.1% of the total volume.
The growth in the number of contracts with foreign buyers is most noticeable in Larnaca, where the figure increased by 25.1% compared to January–October 2025. In Paphos, the increase was 21.1%, and in Limassol, 18.1%.
Detailed statistics on the citizenship of foreign buyers are not published in the DLS monthly reports. The agency divides buyers into only two categories: EU citizens and citizens of other countries.
At the same time, the Cypriot Ministry of the Interior previously provided Parliament with detailed data on the citizenship of foreigners purchasing real estate on the island. These data allow for identifying the main countries of origin of buyers and regional patterns of demand.
In particular, according to information presented to Parliament and published by the Cyprus Mail on October 24, 2025, between September 2024 and September 2025, the highest activity among specific national groups was recorded in the following regions.
In Limassol, Russian citizens led the way, purchasing 846 properties. Israelis took second place with 571 properties, and Greek citizens came in third with 261 properties.
In Paphos, British citizens purchased the most real estate—890 properties. They were followed by Israeli citizens with 683 properties and Russian citizens with 327.
In Larnaca, Israeli citizens were the largest buyers, purchasing 850 properties. Lebanese citizens bought 723 properties, and British citizens bought 302.
In Nicosia, Greek citizens took first place among foreign buyers with 403 properties, followed by Romanians with 112, Russians with 80, and Lebanese with 79.
In Famagusta, the largest group of foreign buyers was British, who purchased 220 properties.
Thus, the geography of foreign demand in Cyprus varies significantly by region. British buyers traditionally hold a strong position in Paphos and Famagusta; Russians in Limassol; Israelis and Lebanese in Larnaca; and Greeks in Nicosia.
These figures by citizenship pertain to the previous statistical period and cannot be used to accurately reflect the buyer composition for January–October 2026.
Ukrainian citizens are also represented among foreign investors in Cypriot real estate, primarily in the island’s coastal regions.
According to data from the Cypriot Ministry of the Interior presented to parliament in January 2025, Ukrainians were among the top ten most represented national groups of buyers in four coastal districts: Limassol, Paphos, Larnaca, and Famagusta.
In Limassol and Paphos, other notable groups of buyers included citizens of Russia, the United Kingdom, Israel, Greece, Romania, and China.
Separate data on applications by foreigners to purchase real estate in Nicosia for 2024 show that Ukrainian citizens accounted for 4% of such applications, the same as citizens of the United Kingdom.
The largest shares in this category were held by citizens of China and Lebanon—16% each—Russia—14%—Israel—10%—Syria—6%—and Egypt—5%.
At the same time, the share of applications does not equal the share of purchases actually completed. According to data from the Cypriot Ministry of the Interior on immigration permits for 2014–2025, 983 permits in this category were issued to Ukrainian citizens and their family members. By comparison, 10,100 permits were issued to Chinese citizens and their family members, 8,478 to Russian citizens, and 1,822 to Lebanese citizens.
These figures pertain to immigration permits, not the number of real estate transactions, and therefore cannot be used to directly assess the volume of purchases.
At present, it is impossible to determine the exact number of properties purchased by Ukrainians or Russians between January and October 2026 based on the publicly available monthly statistics from DLS.
The activity of foreign buyers is accompanied by a further increase in residential real estate prices.
According to data from the Central Bank of Cyprus, in the second quarter of 2026, the residential real estate price index rose by 8.5% year-over-year, following a 7.5% increase in the first quarter.
Apartment prices rose by 8.9%, while single-family home prices rose by 5.8%.
The highest annual price increases were recorded in Famagusta (10%), Larnaca (9.8%), and Paphos (9.6%). In Limassol, housing prices rose by 7.8%, and in Nicosia, by 5.7%.
According to the Central Bank’s assessment, the price increase is driven by high demand—particularly from foreigners—as well as rising construction costs.
At the same time, the volume of new construction is also increasing. From January through May 2026, the number of residential units covered by issued building permits rose by 63.7%, to 8,978. This may contribute to an expansion of the housing supply in the medium term.
In October 2026, 1,772 real estate purchase and sale contracts were registered in Cyprus, an 8% increase compared to October of last year. Over the first ten months, the total number of contracts reached 16,741, representing approximately 92% of the total for all of 2025. Limassol remains the largest regional market, with 5,406 contracts registered from January through October. In Larnaca, this figure stood at 3,674; in Nicosia, 3,556; in Paphos, 3,374; and in Famagusta, 731.
In monetary terms, for January–September 2026, the total declared value of completed real estate property transfers amounted to EUR3.46 billion, which is 7% more than a year earlier.
Limassol accounted for the largest share of the transaction value—EUR1.39 billion, or about 40% of the total. Transactions totaling EUR735 million were registered in Nicosia, EUR696 million in Paphos, EUR480 million in Larnaca, and EUR162 million in Famagusta.
Thus, the Cypriot real estate market in 2026 remains highly dependent on foreign demand, particularly in coastal regions. Meanwhile, the main groups of buyers from third countries remain investors from the United Kingdom, Israel, Russia, and Lebanon, while among EU citizens, buyers from Greece and Romania play a significant role.
The French Ministry of the Interior has relaxed its approach to reviewing citizenship applications from foreign retirees who reside permanently in the country but receive pension payments from abroad. The source of income is no longer considered grounds in and of itself for denying naturalization, The Connexion reported on November 11, 2026.
French Interior Minister Laurent Nunez provided the relevant clarification in a letter to Senator Nicole Bonnefoy of the Charente department, who had previously drawn the government’s attention to the difficulties foreign retirees face in obtaining French citizenship. Under the new approach, applications from retirees whose primary income comes from other countries may be considered favorably, provided they declare that income in France and demonstrate strong ties to the local community.
Such evidence may include, in particular, ownership of a primary residence in France for more than five years, active participation in community life, or experience working in local government.
However, owning real estate is not a mandatory requirement for naturalization and does not guarantee citizenship. This is one of several possible ways to demonstrate long-term residence and integration into society.
As Nunez noted, French authorities are already applying a more flexible approach. This has allowed them to approve several applications that had previously remained pending or were the subject of appeals.
The issue arose following the introduction of stricter administrative requirements for naturalization in May 2025 under former Interior Minister Bruno Retailleau. The circular dated May 2, 2025, provided for enhanced verification of applicants’ economic integration and the location of the center of their material interests.
In practice, this led to denials for foreign retirees who had lived in France for a long time but received the bulk of their income in the form of pensions from other countries.
The problem particularly affected British citizens who, after Brexit, continued to live in France and receive pensions from the United Kingdom.
During parliamentary debates, Senator Nicole Bonnefoy pointed out that such foreign nationals pay local taxes, use the services of French businesses, own real estate, and participate in community life, yet may be denied residency due to the foreign origin of their income.
The Ministry of the Interior agreed on the need to take into account the individual circumstances of retirees, particularly the length of residence and actual integration.
At the same time, the current circular has not been repealed. The changes primarily concern how it is applied by French prefectures, rather than the introduction of a separate, simplified procedure for obtaining citizenship.
The standard naturalization procedure in France generally requires at least five years of continuous residence in the country, a legal basis for residence, proof of integration, and fulfillment of other requirements established by law.
As of January 1, 2026, France has tightened its French language proficiency requirements. To qualify for naturalization, applicants must demonstrate language proficiency at a level no lower than B2 according to the Common European Framework of Reference for Languages.
A mandatory civics exam has also been introduced, consisting of 40 questions on history, culture, the political system, and the rights and obligations of citizens. To pass, applicants must answer at least 32 questions correctly.
For individuals who, due to health reasons or a disability, are unable to take the relevant tests, special accommodations or exemptions from certain tests may be granted upon presentation of medical documentation.
The new clarifications regarding foreign pensions do not override these general requirements. At the same time, foreign nationals who were previously denied citizenship specifically because they received pensions from abroad may consider resubmitting their applications in light of the new approach to assessing integration.
For foreign pensioners, particularly Ukrainian citizens, who are legally and permanently residing in France, this change in administrative practice may expand opportunities for naturalization. However, it does not create an automatic right to French citizenship.
Sources: The Connexion, November 11, 2026; French Senate, parliamentary inquiry on the naturalization of foreign retirees; French Ministry of the Interior, official rules for obtaining citizenship.
On November 25, Kyiv will host the METRONOM professional forum, dedicated to creating added value in cottage complexes through collaboration between developers and architects, according to the DMNTR (“Home and Interior”) media group, which is organizing the event.
The forum, titled “Developers + Architects Create Added Value in Suburban Housing Complexes,” will take place at Osvitoria Hub from 3:00 p.m. to 8:00 p.m. Participants will include representatives from development companies, architectural firms, investors, and real estate market experts.
The focus will be on the practical aspects of creating and implementing suburban residential projects, the impact of architectural solutions on the commercial appeal of real estate, investment efficiency, and the interaction between clients and architects.
A distinctive feature of METRONOM will be the format of joint presentations by developers and architects, who will together present completed or planned projects and explain the specifics of their concepts, architectural solutions, and economic models.
The program includes six such presentations. Each team will have 20 minutes for their presentation, followed by 10 minutes of commentary from independent experts on the solutions presented.
Specifically, in the first part of the forum, representatives of the O.Krasa project (Concorde Capital, Svitlo Development, and “Vidvazhnykh”) will speak alongside the MODUS architectural firm.
The development company “Creator-Bud,” represented by its owner Igor Guda, will share its experience in collaboration with AIMM Architecture.
Another presentation will be given by the Vlasne Misto development project in collaboration with the architectural teams at LAWA, Kudin, and Yod Group.
In the second part of the forum, BGV Development will present the Equides Villas project together with its architectural team.
EcoBud founder Pavel Somov and Ecobud Project representative Marina Kruglova will discuss their collaboration on development projects.
The final joint presentation will feature ODA Development founder Sergey Odarich and architect Igor Martin, founder of Martins Studio.
Following the presentations, there will be an expert discussion focused on the economics of cottage development, the investment appeal of suburban complexes, the role of architecture in determining the market value of properties, and the prospects for the development of this real estate segment in Ukraine.
The expert panel will include Sergey Samusev, founder and managing partner of ZV Development; Dmitry Karpilovsky, co-founder and managing partner of “UkrInvestClub”; and Andrey Dligach, Doctor of Economics, professor, founder and chairman of Advanter Group, and chairman of the Kyiv Foresight Foundation.
Also participating in the discussion will be Andriy Pashenko, founder and head of the “A. Pashenko” Creative Architectural Workshop, and Anna Laevskaya, CEO of Sigma+ and Chair of the Development Committee of the Confederation of Builders of Ukraine.
The forum will be moderated by Vladislav Mikhailenko, attorney, public figure, and member of the Kyiv City Council of the 7th and 8th convocations.
According to the organizers, METRONOM is primarily aimed at developers, investors, architects, construction company executives, landowners, and business representatives who are exploring investment opportunities in suburban residential real estate.
In addition to the main business program, the event will feature professional networking, informal discussions with participants and experts, a reception, a photo session, and a performance by jazz musicians.
The participation fee ranges from 2,500 to 10,000 UAH, depending on the ticket category.
The basic “Guest” ticket, priced at 2,500 UAH, includes participation in the business program, a seat in the auditorium, a coffee break, and access to networking.
The “Business” category, priced at 5,000 UAH, additionally includes priority seating closer to the stage, participation in the reception, and a photo session with participants.
The “Premium” ticket, priced at 7,500 UAH, includes a seat in the front rows, participation in a private networking session with developers, architects, and experts following the main program, as well as personalized access to the speakers.
The “Partner” package, priced at 10,000 UAH, includes all the benefits of the “Premium” package, the opportunity to give a short company presentation, a separate area at the reception, and an individual photo with the speakers and experts.
The METRONOM Forum will take place on November 25, 2026, from 3:00 p.m. to 8:00 p.m. at the Osvitoria Hub, located at 2 Knyaziv Ostrozhskykh St., Kyiv.
Participants can register via the link: https://forms.gle/hhznkyTRYkCJhVho6.
For additional information on participation and ticket purchases, please contact the METRONOM project manager at 077 777 25 47 or 044 461 91 28.
The organizer, METRONOM, is the DMNTR media group (“Home and Interior”), which carries out informational, exhibition, and professional projects in the fields of architecture, design, construction, and real estate development.
“Open4Business” is the event’s media partner.
ARCHITECTURE, DEVELOPMENT, DMNTR, INVESTMENTS, KYIV, REAL ESTATE, МЕТРОНОМ
