RBK-Ukraine citing LUN discusses the current real estate market in Khmelnytskyi and the current apartment prices. This information is reported by Kontrakty.UA.
What are the prices for apartments on the secondary market
In 2024, prices on the secondary market in Khmelnytskyi surged to $790 per square meter, which is 8% higher than last year. A gradual increase occurred in the first quarter of the year, after which prices stabilized.
Currently, one-bedroom apartments are selling for an average of $35,000, two-bedroom apartments for $49,000, and three-bedroom apartments for $60,000. The market has the highest number of offers for one-bedroom apartments priced between $28,000 and $36,000.
On average, to purchase a one-bedroom apartment in the city, one would need to save their entire salary for 6 years; for a two-bedroom, it would take 8.4 years; and for a three-bedroom, 10.1 years.
Moreover, the most expensive real estate in Ukraine is currently in Uzhhorod, Lviv, and Kyiv, where the price per square meter ranges from $1,250 to $1,480. The lowest housing prices can be found in Kherson, Zaporizhzhia, Kharkiv, and Sumy, where one square meter is sold for $470 to $580.
What is the cost of housing in new buildings
In the primary market, the price of apartments has remained unchanged in dollar terms over the year (in hryvnias, it has increased by 12%). A square meter in a new building costs $670. This is the lowest price for real estate in western Ukraine.
Cost per square meter in new buildings:
- economy class - $590
- comfort - $650
- business - $670
- premium - $860
The pace of housing construction in 2024 is nearly equal to that of 2022, with 2,440 new apartments commissioned this year in Khmelnytskyi. Currently, there are 64 new buildings (107 residential complexes) on sale, which is a 2% increase compared to last year. 39 developers offer installment plans, in 6 it is possible to obtain housing through the "eOselya" mortgage program, and in 3 - through a loan.
The average price for the cheapest apartment in the primary market is $31,200. To secure such housing through a mortgage, a down payment of at least 347,000 hryvnias is required.
What are the rental prices in the city
Rental prices for one- and two-bedroom apartments have risen by 11% throughout 2024, with the largest jump occurring between June and August. Meanwhile, the cost of three-bedroom apartments has remained unchanged.
Currently, one-bedroom apartments average 10,000 hryvnias, two-bedroom apartments 11,000, and three-bedroom apartments 12,000. On average, Khmelnytskyi residents spend 50% of their salaries on rent.
Experts from LUN calculated that the cost of a one-bedroom apartment equates to its rental price over 12 years, a two-bedroom over 16.8 years, and a three-bedroom over 16.9 years.
Previously, we reported that prices for new buildings in Mykolaiv dropped by 5% to $650 per square meter throughout 2024. The city is now among the top five regional centers with the cheapest real estate. On average, a square meter on the secondary market costs $610, with one-bedroom apartments selling for $21,000, two-bedroom apartments for $30,000, and three-bedroom apartments for $41,000.
Also, read about how the price of real estate in Kyiv on the secondary market remained stable throughout 2024. On average, one-bedroom apartments cost $60,000, two-bedroom apartments $98,000, and three-bedroom apartments $140,000. The cheapest apartments are found in the Desnyanskyi district, where one-bedroom apartments were sold for $34,900, while the most expensive were in Pechersk, where similar housing was valued at $145,000.