Dear Lviv, cheap Frankivsk: how the cost of housing in the cities has changed and where are the “capital prices” now

During the war year, apartment prices in dollars in new buildings in Kiev practically did not change, and even slightly decreased in some projects, but on the contrary increased in hryvnia equivalent. About such pricing trends in the primary market Focus in his new review “Apartments in Spring. How much does an apartment cost in a new building and will it be more expensive?”

Since the beginning of the war, apartment prices in dollars and hryvnia in Kiev have changed as follows:

• February 2022: 35.4 thousand UAH per square meter / $ 1182 per m2;
• March 2022: 48,000 UAH per m² / $1,263 per m²

True, the statistics of the lun.ua portal are based on the prices declared by the developers, while in actual transactions the cost per square meter may differ downwards. After all, with a significant decrease in demand, the buyer in the market sets his own terms.

“From the spring of 2022, the developers resumed sales – they adjusted prices with promotions and discounts, and in general the cost of housing in new buildings in dollar terms decreased by about 15%“, – says Anna Shcherban, Marketing Director of the Royal House.

And, according to the observations of Anna Murashenko, commercial director of Really Building, during a full-scale war, apartment prices in Kiev fell most noticeably in the premium segment in dollars – sometimes up to 60%, in economy class primary real estate cost an average of 30% in dollars. decreased.

According to some interlocutors focus, the demand arising in the primary market is associated with the possibility of payment in installments.

“The share of flat purchases in installments in all sales rose to 80 percent.because developers have started to offer advantageous installment terms with no increase in square meter price, minimum down payment and extended validity period,” he says in a comment. Focus Anna Shcherban.

Interlocutor Focus makes it clear even if the client has the entire amount for the purchase of an apartment and a large discount is provided with the full payment – the buyer is not ready to pay the entire amount at once.

Victoria Bereshchak, a real estate market watcher, confirmed that developers are now encouraging buyers with 3-5-year installment schemes, the state preferential lending program “єОselya” and offering additional discounts for Ukrainian defenders.

According to the observations of the addressee of the publication, today Often you can find discounts not on certain categories of apartments, as before, but on all plots in the residential complex. On average, discounts from developers reach 10-12%, but now there is a noticeable trend to increase discounts up to 15%..

Real estate market expert Irina Lukhanina confirms that developers should make the following concessions to buyers:

• Discounts up to 15-20% with cash payment,
• promotions and lottery discounts of 5-15 thousand dollars for a particular object,
• apartment renovation, gifts, etc. certain bonuses, such as

For clarity, we give an example of several current developer offers in different cities of Ukraine.

For example, in the New England residential complex in the capital, the cost of one-bedroom apartments starts at UAH 1.3 million (UAH 42.3 thousand, or $ 1,113 per square meter). Installments are given for 3 years with 30% down payment. In one of the residences put into service in 2025, a 19% discount is applied to the selected flats.

In the Lviv residential complex VIKING Park, with its launch in the second quarter of 2023, the smallest one-room apartment costs UAH 1.41 million (from UAH 40.15 thousand or $ 1,057 per square meter). In this complex there is an opportunity to buy ready-made apartments under the preferential loan program “єOselya”.

In Odessa, in the Aqua Marine residential complex, apartments are offered with repairs at a price of 34.5 to 54.6 thousand UAH per square meter. m ($910 – $1440 per m²). You can benefit from 3-year installments with 10% down payment. And with full payment in one of the houses of the complex, housing can be purchased at a 10% discount.

Let’s finish with the statistics of apartment prices in Ukrainian cities, where housing was most actively built during the war. And these are the regional centers in the west of the country and the city of Kiev, which, according to Vladimir Sementsov, co-founder and managing partner of INSPI Development, account for 35% and 30% of the total number of facilities actively built. respectively. Odessa is in the third place with a share of 12%.

The average prices of apartments in new buildings by city are as follows*:

• Kiev: 48,000 UAH per square meter / $1,263 per m2;
• Lviv: 46.2 thousand UAH per square meter / 1216 $ per m2;
• Odessa: 38,000 UAH per square meter / USD 1,000 per m2;
• Uzhgorod: 37.6 thousand UAH per square meter / $ 990 per m2;
• Chernivtsi: 32.9 thousand UAH per square meter / $ 866 per m / square meter;
• Ivano-Frankivsk: 25.0 thousand UAH per m2 / $658 per m2;
• Ternopil: 25.0 thousand UAH per square meter / $ 658 per m2.

*According to lun.ua statistics as of the end of March 2023, taking into account the 38 UAH/USD dollar rate.

These numbers clearly show that during the war, apartment prices in Lviv almost caught up with those in Kiev.

Previously Focus He learned about the current conditions of lending for the purchase of housing in Ukraine, including through the state concession lending program “Joselya”.