RBC-Ukraine cites data from LUN to discuss the housing prices in Kyiv and the areas where they are the cheapest. This information is reported by Contracts.UA.
What are the prices for apartments in the secondary market
In the secondary market, stability has been observed over the past six months. On average, one-bedroom apartments cost $60,000, two-bedroom apartments - $98,000, and three-bedroom apartments - $140,000. The price of housing greatly depends on its location.
Most expensive apartments in the Pechersk district:
- one-bedroom apartments without renovation are sold for $118,000, with renovation - $145,000
- two-bedroom apartments with renovation - $195,000, without renovation - $162,000
- three-bedroom apartments with renovation - $350,000, without renovation - $270,000
Cheapest apartments in the Desnyansky district:
- one-bedroom apartments without renovation cost $34,900, with renovation - $40,000
- two-bedroom apartments with renovation - $53,100, without renovation - insufficient data for analysis
- three-bedroom apartments with renovation - $66,600, without renovation - insufficient data for analysis
A survey by LUN showed that 30% of buyers believe that real estate prices in Kyiv's secondary market will rise soon, 33% think that prices will decrease, while the rest said that prices will remain unchanged.
Interestingly, housing in the Desnyansky district is even cheaper than in the suburbs of Kyiv - Vysheve, Vyshgorod, Brovary, Petropavlivska, and Sofiyivska Borshchahivka. There, one-bedroom apartments cost between $42,300 and $48,000.
The highest priced housing is in pre-revolutionary buildings (constructed before 1918), where the average price for a one-bedroom apartment is $100,000. Following that, housing in new buildings constructed after 2010 sees similar apartments priced at $75,000.
It is worth noting that, on average, a purchase agreement is concluded within 45-67 days from the moment the apartment is listed for sale.
Research indicates that the cost of a one-bedroom apartment is equivalent to its rental cost over 12.6 years. Additionally, on average, to buy an apartment in Kyiv, one would need to save their entire salary for 8.3 years.
What is the cost of housing in new buildings
Prices in new buildings have increased by 4% over the past six months to $1,270 per square meter; however, the final price depends on the class of housing:
- economy class - $950
- comfort class - $1,020
- business class - $1,690
- premium class - $3,160
The most expensive new buildings are in the Pechersk district, costing $2,510 per square meter, while the cheapest are in the Desnyansky district, where the average cost is $960 per square meter.
To acquire an apartment in the capital through a mortgage, one must make a down payment of at least $18,000. Considering the minimum area offered by developers and the lowest market prices, the cheapest apartment in Kyiv will cost $71,000.
Data from LUN's survey showed that 42% of buyers think prices in new buildings will rise soon, 22% believe they will decrease, while the rest stated that property prices will remain unchanged.
Currently, there are 177 new buildings for sale in Kyiv, with 133 developers offering installment plans, 53 projects participating in the "eOselya" mortgage program, and 23 available for housing loans.
Additionally, Kyiv became a leader in 2024 for the number of new housing units put into operation - 10,700 apartments, with over 8,600 in the region. However, the pace of new housing construction has decreased by nearly 20% compared to 2023.
Earlier, we reported that despite the war, the primary real estate market in Ukraine continues to develop. This year, the most new apartments were commissioned in Kyiv - over 10,000, in the Kyiv region over 8,600, and in Lviv - more than 5,400. Meanwhile, construction rates have dropped in Kharkiv, Mykolaiv, and Odesa.
Also read about how the cost of a one-bedroom apartment is, on average, equivalent to its rental cost for 9-18 years, depending on the city of its location. In Ivano-Frankivsk, housing will pay off in 9.3 years, while in Kherson, it will take 18.5 years.