Construction work at the Greenville Prostir residential complex (Lviv Oblast, Lysynychi village, 2 Osvitna St.) has resumed following the resolution of a legal dispute regarding the terms of use of the land plot.
According to the developer’s press office, the dispute centered on the amount of rent for the land plot in Lysynychi. As part of the settlement, the Greenville Group and the Lviv City Council agreed on a new rent amount and a mechanism for compensating the community budget for the difference arising from the previous period of land use.
“As the project’s developer, we took responsibility for finding a solution. It was important for us not to prolong the legal dispute but to find a model that takes into account the interests of the city, the community, and our investors. Today, this issue has been resolved, and we are resuming work on Greenville Prostir,” said project manager Oleg Kozub.
On August 11, the Lviv Regional Commercial Court approved the agreement reached by the parties and closed the case. With the court restrictions lifted, the company was able to resume construction work on the site.
The company’s next step is to restore construction work to full speed and present investors with an updated project timeline.
According to the LUN new-construction portal, the Greenville group of companies, founded in 2007, is carrying out projects in Lviv and Kyiv; since 2010, 45 buildings have been commissioned, and six buildings are currently under construction.
Private landlords in the U.K. are increasingly selling properties or planning to exit the market amid rising financing costs and tax and regulatory burdens. The decline in supply is already leading to further increases in rent and is occurring at a time when the country is experiencing a change in government and a period of heightened economic uncertainty.
According to official data from the UK’s Office for National Statistics (ONS), in July 2026, the average private rent reached £1,393 per month, up 3.7% year-over-year. In England, the figure stood at £1,451, and in London, it was £2,317 per month.
A study by the Lomond agency network paints a similar picture, showing that British renters are already spending an average of 32.7% of their annual income on housing. According to the company’s methodology, the average rent was £1,369 per month, 4.3% higher than a year earlier. The discrepancy with ONS data is due to different sample sizes and calculation methods.
At the same time, supply from landlords is shrinking. A July survey by the Royal Institution of Chartered Surveyors (RICS) showed that new listings from landlords stood at -27%. Market participants report that landlords are reducing their portfolios or exiting the sector entirely. Despite more subdued demand from tenants, the balance of expectations for further rent increases rose to +28%.
A survey of more than 2,000 landlords conducted by Property118 in the second quarter paints an even bleaker picture: 40.2% had already reduced their portfolios over the previous two years, while only 6% had expanded them. Looking ahead to the next three years, 67.7% of respondents expect to sell at least part of their real estate holdings, while 27.1% intend to exit the market entirely.
One of the main reasons remains the high cost of borrowing. The Bank of England’s base rate stands at 3.75%, significantly higher than the levels seen during the era of cheap money prior to 2022. More than a third of the landlords surveyed will need to refinance their mortgages within the next year, which for many means switching from old, cheap fixed rates to significantly more expensive terms.
An additional factor has been the most significant reform of the private rental market in many years. As of May 1, 2026, the main provisions of the Renters’ Rights Act came into effect in England: Section 21 evictions without cause have been abolished, fixed-term leases are being replaced by a system of periodic tenancies, and landlords’ responsibilities have been strengthened. Starting in late 2026, the government will begin implementing a mandatory private rental housing registry, for which registration will incur a fee. Additional quality standards and a mandatory ombudsman will be introduced in the future.
That said, it would be incorrect to attribute the mass plans to sell properties solely to the new law. Pressure on the sector has been building for years due to tax changes, restrictions on mortgage interest deductions, and rising costs for insurance, repairs, and property maintenance. The new rules have merely become yet another factor forcing owners to reevaluate the economics of buy-to-let.
The situation in the housing market is unfolding against a backdrop of serious political instability in the United Kingdom. Keir Starmer stepped down as prime minister in the summer of 2026 after losing support within the Labour Party, and in September he decided to leave Parliament as well. He was succeeded by Andy Burnham, who became the UK’s seventh prime minister in a decade.
The new administration must simultaneously address the cost of living, the funding of social programs, and pressure on public finances. Yields on long-term British government bonds rose to approximately 5.26% in early September—a high not seen since 2008—which increases borrowing costs not only for the government but also, indirectly, for the entire economy. Investors are awaiting the new cabinet’s October budget and trying to understand how Burnham intends to finance his social and infrastructure initiatives.
It is still premature to speak of a full-blown economic crisis or recession in the UK. GDP grew by 0.4% in the second quarter of 2026, following 0.6% growth in the first quarter, though the pace of growth is slowing. Inflation accelerated again in July to 2.9%, unemployment reached 4.9%, and British businesses remain cautious about new investments.
It is precisely this combination of weak economic growth, high interest rates, and political uncertainty that is exacerbating problems in the rental market. The new cabinet aims to strengthen tenant protections, but as private landlords withdraw from the market, the opposite effect occurs: the fewer apartments available on the market, the greater the pressure on rent.
This presents a complex dilemma for the British government. If regulations and taxes continue to erode returns on private rentals faster than the government and institutional investors can build new housing, some of the costs of tenant protections may effectively be passed back to tenants in the form of higher rents and fewer housing options.
In the medium term, this could accelerate a structural shift in the British market: small private landlords will gradually be replaced by professional build-to-rent operators, pension funds, and investment funds capable of operating with lower returns and withstanding significantly stricter regulation.
Thus, the exit of British landlords is not an isolated real estate issue, but part of a broader picture: expensive capital, an economic slowdown, a crisis of political stability, and, at the same time, the government’s attempt to significantly tighten regulation of the housing market. For tenants, the main risk is not the mass disappearance of rental housing per se, but rather its continued rise in price and the shift in ownership from small landlords to large institutional investors.
Starting September 15, 2026, Latvia will cease issuing new temporary residence permits based on real estate purchases. These changes are provided for in the new Immigration Law, which the Saeima re-adopted on August 20 and which takes effect on September 15.
Until now, a foreign investor could apply for a temporary residence permit valid for up to five years upon purchasing real estate worth at least EUR 250,000.
The new law no longer provides for this basis for initially obtaining a residence permit. At the same time, the option to obtain a residence permit by depositing funds in a Latvian bank—which previously required an investment of at least EUR280,000—is being discontinued, according to the Prian.ru portal.
That said, investors effectively have a short transition period. Applications for temporary residence permits submitted before the new law takes effect will be processed under the old legislation.
These changes do not mean that residence permits already issued will be automatically revoked. Permits issued before September 15 remain valid until the end of their specified term. Furthermore, a special transitional mechanism is in place for holders of residence permits previously obtained through real estate purchases or bank investments: provided they maintain their investments and meet the established requirements, they will be able to apply for a renewed temporary residence permit valid for up to five years.
After the real estate option is phased out in Latvia, other investment grounds will remain available. A foreign national may obtain a temporary residence permit valid for up to two years by investing at least EUR50,000 in the capital of a small Latvian enterprise or EUR100,000 in a larger company. Additionally, a payment of EUR10,000 must be made to the state budget, and the company must meet the established requirements regarding employment, turnover, and tax payments.
Furthermore, the new law provides for an investment mechanism through a state-established alternative investment fund manager. To obtain a residence permit, applicants must invest a minimum of EUR 150,000 for a period of at least five years and additionally pay EUR 10,000 to the state budget. Such a residence permit may be granted for a term of up to five years.
Citizens of Russia and Belarus will not be able to use these investment-based options. The relevant restrictions are explicitly stipulated in the new legislation.
Latvia’s investment-based residence permit program has been in place since 2010 and, for many years, was one of the best-known European options for obtaining a residence permit through real estate.
IMMIGRATION, INVESTMENT, LATVIA, REAL ESTATE, RESIDENCE PERMIT
The Greek government is preparing changes to the Golden Visa program that could allow foreign investors to obtain a residence permit by purchasing not just a single property, but a portfolio of several properties, provided they are placed in long-term rental agreements.
The proposed change is included in Greece’s National Housing Policy Strategy for 2026–2035. The document outlines 50 measures with a total budget of over EUR 6.5 billion and is primarily aimed at increasing the supply of affordable housing and reducing pressure on the rental market.
Under the proposed model, a foreign investor will be able to purchase multiple properties instead of just one; however, these properties may be used exclusively for long-term rentals. Listing such housing on short-term rental platforms will be prohibited. The authorities also plan to establish a mechanism to monitor the future use of the acquired properties.
The goal of this initiative is to channel foreign investment capital directly toward increasing the supply of rental housing and bringing vacant properties back onto the market. The authorities intend to pay special attention to the conversion of former offices, retail, and industrial spaces into housing.
For now, the changes are still in the planning stages and do not mean that the new Golden Visa category has already taken effect. Its practical implementation will require the appropriate regulatory framework.
Currently, the minimum investment amount under the Greek Golden Visa program depends on the type of property and the region. For Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of more than 3,100 people, the main threshold is EUR800,000; in most other regions, it is EUR400,000. A separate preferential threshold of EUR 250,000 applies, in particular, to the purchase of a commercial property that is subsequently converted into residential housing, as well as to certain protected historic buildings in need of restoration. Official regulations provide for the issuance of a five-year residence permit to the investor.
According to data from the Greek Ministry of Migration and Asylum, 2,551 new applications for an initial residence permit under the Golden Visa program were submitted in the first half of 2026, which is 44% fewer than the 4,553 applications filed from January through June 2025. At the same time, authorities issued 4,919 new permits over the six-month period—21% more than a year earlier—as they continued to process a significant number of applications submitted in previous years.
Most new applicants continue to focus on investments in the range of EUR250,000–400,000, while properties falling below the EUR800,000 threshold are in significantly lower demand.
At the same time, obtaining a residence permit is far from the only reason foreigners purchase real estate. According to data cited in the Greek housing strategy, only about 7% of foreign buyers cite the Golden Visa as their primary motivation. About 30.8% view real estate in Greece as a place for permanent residence, 44.4% as a vacation home, and another 17.8% primarily as an investment. In 2026, the highest interest among foreign buyers is coming from citizens of the United States, the Netherlands, Germany, and the United Kingdom.
Crete remains the most sought-after region among foreign buyers, accounting for 42.9% of demand, followed by the Peloponnese with 22.9% and the Ionian Islands with 12.7%.
golden visa, GREECE, INVESTMENT, REAL ESTATE, RESIDENCE PERMIT
The Antimonopoly Committee of Ukraine (AMCU) has granted JSC “ZNVKIF ‘Kingston’” permission to acquire control over Dmitry Buryak’s LLC “Business Center on Illinskaya.” According to a statement on the agency’s website, the relevant approval was granted on Thursday.
According to data from the YouControl analytical system, the ultimate beneficiary of JSC “ZNVKIF ‘Kingston’” (Kyiv) is listed as Oleg Vysotsky, who served as head of the State Consumer Standards Service in 2006.
The owner of “BC on Illinska” LLC (Kyiv) is listed as “Concern Europe” LLC (100%), and the ultimate beneficiary is businessman Dmytro Buryak.
The “Ilyinsky” Business Center is part of the portfolio of the DeVision group of companies, whose board of directors was chaired by Buryak. According to information on the business center’s website, its total area is 44,200 square meters, with 37,100 square meters of office space. The underground parking garage has 154 parking spaces.
DeVision is also developing the Seven residential complex in the Darnytskyi district of the capital in partnership with Stolitsa Group. In addition, Buryak owns the company that commissioned the construction of the “Ilyinsky” residential complex at 21 Naberezhno-Khreshchatytska Street in Kyiv’s Podilskyi district.
As previously reported, Oleg Vysotsky’s Comfort Mol LLC received approval from the AMCU in August 2026 to acquire a single property complex from Osta Plus LLC, owned by Alexander and Sergey Buryak.
The Experts Club analytical center analyzed data from the international consulting firm Savills on real estate market trends in the world’s leading countries and identified a number of trends in the European real estate market in 2026.
Investment in European real estate reached 54 billion euros in the second quarter of 2026, up 7.7% year-over-year, according to Savills data.
Despite the overall increase in transaction volume, Savills characterizes the recovery of the European market as uneven. Escalating macroeconomic and geopolitical risks have forced investors to raise their standards for property quality.
Capital is now primarily directed toward real estate that provides a stable cash flow, has a transparent market value, and is located in segments with long-term structural demand.
One of the main beneficiaries of this new investment strategy has been so-called “living real estate.”
In the first half of 2026, multifamily rental housing, specialized student dormitories, senior living facilities, and housing for the elderly already accounted for 29% of all real estate investments in Europe.
Thus, nearly one in every three euros of institutional capital directed toward European real estate went to properties directly related to residential living.
The growing interest in this sector is linked to a housing shortage in many major European cities, rising rents, demographic changes, and relatively stable income streams compared to some traditional types of commercial real estate.
At the same time, investor attitudes toward office properties are shifting. High-quality, modern office buildings in central business districts remain in demand, while outdated and poorly located properties are significantly harder to sell or finance.
According to Savills, the market is effectively divided into two types of assets. In the first category, investors are willing to compete for high-quality properties with reliable tenants and predictable income. In the second, real estate with a poor location, high future costs, or uncertain demand may remain outside the scope of investment interest for a long time.
Savills notes that Europe remains an important destination for global capital, but investment requirements have become significantly stricter.
Markets where a significant price correction has already occurred and a clearer entry point for investors has emerged have the best chances of attracting capital. An additional advantage is the limited supply of new properties and stable demand from tenants.
“The recovery is taking place in stages and is driven by investor confidence in specific deals, rather than a general willingness to take risks,” note Savills analysts.
Thus, the European real estate market is gradually emerging from a period of sharp interest rate hikes and asset revaluation; however, the new investment cycle differs significantly from the previous one. Capital is increasingly being directed not simply toward real estate as an asset class, but toward specific segments with the most predictable long-term demand.
Source: Savills, Global Capital Markets Research Q2 2026 — Europe.
