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Apartments in Kyiv in summer: price outlook for housing rental

After a historic low in the spring of 2020, the apartment rental market managed to recover and strengthen by the beginning of 2021. Prices went up, but some of the lots remained outside the market. What will happen to the cost of apartment rental in the summer, where to look for a cheap apartment for rent in Kyiv, read in the article of The Page.

Since the beginning of 2021, prices for apartment rental in Kyiv have never dropped. After a bad 2020, when the market literally collapsed, this state of affairs is very pleasing to both realtors and homeowners.

True, some of the apartments, having lost their tenants during the last year's crisis, were empty for a long time, and some continue to stand idle. According to the realtor Iryna Tymoshkina, the mass of such apartments in the general supply structure is quite large and amounts to about 15%.

Quote"These are apartments in the old housing stock, in houses built in the 60s and 80s in the residential areas of the Left and Right Banks. Usually the matter is in the interior, that is, its condition or absence of renovation, the minimum set of home appliances, and intractability of the owners," the expert says.

At the same time, even a relatively low price tag of 6,500-7,000 UAH does not save such lots. Today, a tenant is looking for the most comfortable living conditions, especially since the dwindled ranks of those who want to rent a dwelling in Kyiv make it possible not to rush to make a choice.

The supply, according to the realtor Ihor Myslovskyy, still exceeds the demand, especially in the old housing stock. Usually houses built after the 2000s are in demand, with functional layouts, fresh renovation in the main entrance. The apartment must have a hot-water heater, a washing machine, a minimum set of necessary home appliances, plastic windows, and fresh furniture are desirable.

Quote"One-room apartments are now giving way to three-room apartments that tenants are looking for jointly: this way one can save both on the cost of rent and on utility bills. And the security deposit is divided into two or three, and it is already easier to pay," explains Myslovskyy.

Since the beginning of the year, the cost of renting 1-room apartments in Kyiv, according to experts interviewed by The Page, has grown by 6-8% depending on the area, two-room apartments—by 4-6%, and three-room apartments—by 8-10%. Obolonskyi, Podilskyi, Holosiivskyi, Sviatoshynskyi, and Desnianskyi remain the favorite districts for housing rental in 2021 in Kyiv.

Now the minimum prices for renting apartments in Kyiv start from 6,000-6,500 UAH in the old housing stock. These are small studio apartments in dormitory districts with old furniture and renovations. But a large number of 1-room apartments are rented in the range from 8,000 to 10,000 UAH per month.

For this money, one can find a full-fledged one-room apartment with fresh cosmetic renovation, furniture and the necessary home appliances. In the central business district, rent of a one-room apartment in the old housing stock will be higher—about 12,000 UAH per month, and in a new building on average—15,000-16,000 UAH per month, depending on the complex, its infrastructure, and the location itself.

Renting a two-room apartment in Kyiv is in the range of 9,000-12,000 UAH per month in old houses and 14,000-16,000 UAH per month in new buildings. And for a three-room apartment one will have to pay 12,000-16,000 UAH per month, and in new residential complexes—16,000-18,000 UAH per month.

In the summer of 2021, prices for renting apartments in Kyiv are likely to drop, so after a month and a half, if desired, one can bargain for free lots and drive down the price. However, given the intransigence of the owners, the course of the assignment will not exceed 1,000-1,500 UAH.

Summer is a low season in the rental housing market. Given that many office workers still work from home, there is no need for them to shell out money for housing rental. And students who spend their second year at home cannot please the landlords. Previously, these two categories formed the basis of demand for housing rental, allowing owners to raise the price tag and turn their noses up.

The outlook for rental prices in Kyiv will directly depend on the development of the situation with the coronavirus and the rising inflation. In the summer, it is likely that prices will drop, albeit insignificantly, due to the chariness of the owners, and by the fall a Rubicon awaits us: either a gradual recovery and further increase, or, on the contrary, a rollback, since Kyiv should not count on students or office workers.

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