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Most in-demand housing in Kyiv are flats in new buildings for $50,000—70,000

The cost of flats in new buildings in Kyiv has fallen sharply due to the outflow of private investors. Photo: Shutterstock

The cost of flats in new buildings in Kyiv has fallen sharply due to the outflow of private investors. Photo: Shutterstock

In December 2021, the median price per square meter of residential real estate in the primary market in Kyiv was $1,230 per sq.m. The highest demand was for flats in the price range from $50,000 to $70,000—the share of requests for them exceeded 51% among others.

According to the results of the Kyiv primary real estate market research in December 2021 conducted by analysts from the real estate search portal Address.ua, housing in the range of up to $30,000 was the second most popular with a share of 21%. For housing in the range of $30,000—50,000, the demand was 15% in the portal database. 13% were interested in flats above $70,000.

In December 2021, flats were offered for sale in 235 residential complexes presented in the database of the portal Address.ua.

The category of the flats with an area of 35-50 sq. m. was the most in demand in December 2021: the share of such requests to the portal Address.ua was 56%.

In the Q4 of 2021, there was a decrease in median prices in the primary market by 3.2%. The main decrease factors were: the exchange rate of the national currency and the decline in investment demand.

  • The figure in the category of one-room flats was $1,300/sq.m.
  • The price of two-room flats was $1,188/sq.m.
  • Three-room flats—$1,168/sq.m.

Prices by Kyiv districts

Pecherskyi District is still one of the most expensive districts in the capital—$2,107 per sq.m. Shevchenkivskyi District ranks second with an average price of $1,790 per sq.m. The price in Holosiivskyi District is $1,433 per sq.m.

In Podilskyi and Obolonskyi Districts cost of sq.m. amounted in December 2021 to $1,239 and $1,190 per square, respectively. The minimum price—$1,002, was fixed in Desnianskyi District.

In December 2021, the buyers showed the greatest interest in the Holosiivskyi District of the capital. The share of ad views in this district was 28% of the total number of views. Next in the buyers’ priority was Darnytskyi District with a share of views of 16%. Dniprovskyi and Shevchenkivskyi Districts—12% each, Desnianskyi, Podilskyi, and Sviatoshynskyi—5% each. Least of all the buyers were interested in primary real estate in Obolonskyi District.


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Falling prices—due to private investors’ outflow

As Roman Herasymchuk, Director at City Development Solutions, notes in a commentary to The Page, the outflow of private investors had a significant impact on the price schedule and demand structure at the end of the year.

Quote"Half of all requests were concentrated in the most popular category—the flats worth $70,000, while the share of requests for the flats up to $30,000 decreased by 14%. The demand for three-room flats increased—up to 19% of all requests, and that impacted the price—the median cost per square meter of a three-room flat increased by 5.3%," the expertstresses.

According to him, the end of 2021 was over on a minor note for the Kyiv primary residential real estate market—the number of requests for purchasing flats significantly decreased—by half compared to the peak figures of July-August, 2021. The dynamics on the market should recover in early February, Herasymchuk assures.

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