RBC-Ukraine refers to data from LUN to discuss the housing prices in Vinnytsia. This information is reported by Kontrakty.UA.
Current Prices for Apartments in the Secondary Market
Vinnytsia is currently among the top five cities with the highest property prices in the secondary market, alongside Lviv, Kyiv, Uzhhorod, and Chernivtsi.
The price per square meter in the city is $1,110, showing only a 2% decrease over the past six months. In contrast, housing prices in eastern regions of Ukraine have dropped by 8-14%, primarily due to the ongoing Russian attacks.
Currently, a one-bedroom apartment in Vinnytsia averages $45,000, a two-bedroom apartment is about $65,000, and a three-bedroom apartment costs around $72,000. The most expensive apartments are located in the Leninsky district, while the cheapest can be found in the Staromiskyi district.
Notably, compared to November 2023, two-bedroom apartments have increased in price by over $6,000, while three-bedroom apartments have decreased in price by $3,000.
Housing Prices in New Constructions
At present, the average price per square meter in new constructions stands at $960, reflecting a 1% increase over the last six months. However, the cost varies depending on the class of housing, specifically:
- comfort class – $840
- business class – $1,000
- economy class – $1,050
- premium class – $1,300
It is important to note that prior to the full-scale war, the average price per square meter in the primary market in Vinnytsia was $800.
Currently, Vinnytsia ranks 7th in terms of the highest prices in the primary market, trailing behind Lviv, Kyiv, Uzhhorod, Dnipro, Odesa, and Kropyvnytskyi.
In Vinnytsia, there are 57 residential complexes for sale, with 51 under construction, and preparatory work is underway for three foundations. Twelve developers offer installment plans, three allow purchase through the "eOselya" mortgage program, and one provides credit options. This year, the pace of housing construction has decreased by more than half compared to last year.
Rental Prices
Over the past six months, the rental price for one-bedroom apartments in Vinnytsia has risen by 4%. Currently, such housing is rented out for an average of 12,000 UAH, with the majority of offers priced between 8,000 and 9,000 UAH.
Two-bedroom apartments are rented for 12,700 UAH, while three-bedroom apartments cost about 15,000 UAH. The highest rental prices are found in the Leninsky district, while the lowest are in the Zamostyansky district.
Also, read about how the trend has shifted during the war – it has now become more advantageous to purchase property in the secondary market, as these homes come with basic renovations. Previously, the price difference between primary and secondary markets was significant, making it cheaper to buy an apartment in a new construction and renovate it than to acquire a home in the secondary market.
Earlier, we shared an expert's forecast regarding the real estate market situation leading up to the New Year. According to their opinion, there will be a slight decrease in demand for housing purchases, as this is a typical trend during the winter holidays. Property prices are not expected to spike, as there is currently no indication of rising housing costs. During the New Year period, developers will offer discounts of up to 20%.