Ukrainian real estate market review

“Real estate is a powerful investment tool for anyone who wants to achieve financial freedom” 

Robert Kiyosaki

According to statistics and research in the field of real estate, the Ukrainian real estate market is growing and Ukrainian cities occupy a large share of the world market, along with the world’s largest megalopolises. The most popular cities for investment in Ukrainian real estate are:

  • Kiev
  • Lviv
  • Odessa

Over the past year, the following dynamics has been observed. Prices for the purchase of real estate in Kiev decreased on average by 1.4%, while in Lviv, on the contrary, they increased by 0.1%. As for Odessa, the prices for the last year do not change here.

The real estate market is very diverse. There are commercial buildings and different types of residential premises. What about brief but informative review of real estate in each of these cities? 

Let`s go!

Kiev

Kiev is the capital of Ukraine, with a population of almost 3 million and it’s growing because young people from all over the country come to greener pastures. Kiev has a huge need for real estate market growth that is why new buildings are mushrooming here. There are:

  • residential skyscrapers;
  • office centers;
  • entertainment and shopping centers.

How much is it to buy?

Commercial real estate

Among commercial real estate it is possible to purchase new buildings, as well as some of their parts for retail and entertainment outlets.

  • Average price – from700 to 1000 US dollars per square meter.

Living spaces

As for residential premises, it is possible to buy apartments in new buildings, as well as in old-style houses.

  • Average price in a new building – 840 US dollars per square meter
  • Average price in an old-style  building depends on the number of rooms:
  • Studio apartment – 1080 US dollars per square meter.
  • Two-room apartment – 1280 US dollars per square meter.
  • Three-room apartment – 1200 US dollars per square meter.

Lviv

Lviv is a huge tourist center, with a population of about 750 thousand. However, Lviv is in the top-70 of the most visited cities in Europe. Thus, over 2 million tourists visit it annually. That is why the main part of real estate here is apartments for daily rent, mainly in old fashioned buildings. 

How much is it to buy?

Living Spaces

  • Average price in a new building is about 500 – 600 US dollars per square meter
  • Average price in an old fashioned-house in the city center would be about:
  • Studio apartment – 1030 US dollars per square meter.
  • Two-room apartment – 730 US dollars per square meter.
  • Three-room apartment – 650 US dollars per square meter.

Odessa

Odessa is a resort city with a population of 1 million. In 2018, Odessa was visited by more than three million tourists.  The bulk of investments is aimed at acquiring meters in new buildings of Arcadia district, as well as in buildings in the central (historical) part of the city. 

Commercial real estate in Odessa is not popular. There are empty squares with signs for rent everywhere in the city. So, let’s see what is going on with the living spaces. 

How much is it to buy?

Living Spaces

  • Average price in a new building is about 865 US dollars per square meter
  • Average price in the city center would be about:
  • Studio-apartment – 878 US dollars per square meter.
  • Two-room apartment – 775 US dollars per square meter.
  • Three-room apartment – 818 US dollars per square meter.

How much is it to sale?

As you can see the real estate market of Ukraine is very different in its different parts. To make it easier to calculate the benefits from investments in the real estate market of Ukraine, let’s look at the rental priceы.

Commercial real estate rental prices:

  • office premises – 15 – 30 US dollars per square  meter
  • parking area – 35-50 USD per square meter 

Living spaces rental prices:

It all depends on what conditions you create as an owner. You can create a luxury apartment or something more simple. Here are the rental prices for different types of housing in Kiev, Lviv and Odessa. 

Kiev

  • Luxury housing, such as 
  • Penthouses near the city center – about 900- 1000 USDper night; 
  • VIP studios and luxury apartments – about 700 – 900 USDper night;
  • Apartments with exclusive interior design – about 350 – 650 USDper night;
  • Middle class housing, such as
  • Apartments near the city center – about 40 – 50 USDper night;
  • Room in the apartment – about 15-25 USDper night.

Lviv

  • Luxury housing:

           De Luxe Apartments in Lviv historical center – about 600 – 1000 USD per night; 

           VIP apartments near the city centre – about 250 – 450 USDper night

  • Middle class housing:

           Small flats with basic amenities – about 35-80  USDper night;

           Rooms in the apartments – about 20 – 30 USD per night.

Odesa

  • Luxury housing, such as
    • Villas and cottages – 600 – 850 USD per night;
    • VIP flats – about 500-750 USDper night;
    • Private houses and small villas  – about 250-500 USD per night.
    • Studio apartments – about 150-250 USD per night
  • Middle class housing:
    • Cozy apartments with good conditions – about 30-45 USD
    • Rooms in the apartments – about 15 -25 USD

Depending on your expenses for creating interior design of the premises, as well as on the type of housing for rent you choose, the investments can pay off in half a year of permanent rent or in 2-3 years.

Ukraine is a country that is changing for the better, with the advent of new government, simplification of the systems of purchase and sale, as well as an increase of financial stability are expected. 

Therefore, the real estate market of Ukraine will become more and more popular every year.

I’m a fellow traveller and explorer of Ukraine. Based in Kyiv. Feel free to reach out to me with any questions. I’m very friendly and always open to discussing new projects, interesting ideas or opportunities to be part of Ukraine.
Posts created 50

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top