After the start of the war on February 24, 2022, the elite real estate market in Ukraine underwent significant changes. At the beginning of the conflict, there was a sharp decline that led to a stagnation of the market for several years. However, last year, the premium market showed the first signs of demand recovery, particularly in Kyiv and Lviv.
This is reported by Бізнес • Медіа
In Kyiv, last year, a Ukrainian developer presented a new project in the premium segment for the first time since the war began – The One by the DIM group of companies.
“In just a few months, we sold nearly 30% of the apartments in the project. This indicates that there are investors in the market who value exclusivity and are looking for investment projects”
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However, despite the recovery in activity, there is still a significant decrease in demand in the capital’s market compared to the pre-war period – by 7-8 times. Over the three years of the war, prices in the secondary market for elite housing have fallen by 30%. In contrast, prices in the primary market have already recovered and were fluctuating between $3,000 and $6,000 per square meter before the war.
As of today, prices for premium apartments start at $300,000 and above. The cost per square meter of elite housing ranges from $2,500 to $4,000, depending on the area, floor level, view from the windows, and the class of the building. This year, a price increase of 7% to 12% is expected.