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September results: Apartments in the secondary market began to fall in price (prices in all regions)

The average cost of apartments in the secondary market of Ukraine in September decreased by 3.1%: from $929 to $901 / m2. At the same time, prices for 1-room apartments decreased on average by 0.6% (from $957 to $951 / m2), 2-room apartments—by 2% (from $886 to $860 / m2), 3-room apartments—by 4.6% (from $879 to $838 / m2), the cost of 4-room apartments fell by 7.8% (from $ 227 to $1131 / m2).

This is evidenced by the results of a study of the secondary real estate market in Ukraine, conducted by the Association of Real Estate Specialists (Realtors) of Ukraine (ARESU) jointly with the geoinformation portal Uvekon.

Commenting on the results of the study, Yuriu Pita, the president of ARESU, noted that back in July the Association predicted that in the fall the rate of growth in housing prices would slow down significantly. At the end of September, these processes became evident, especially in major cities.

"Until the end of the year, price stabilization will take place in almost all regional centers—with minor fluctuations, not exceeding 1%. Regions will slowly "catch up" the major Ukrainian cities. As for the cost of housing in the secondary market in Ukraine as a whole, the market demonstrates a clear delineation of demand: people tend to live and work in regional centers, so in small towns, due to a lack of buyers, prices are falling," the expert noted.

In small towns, according to research data, apartments are getting cheaper. At the same time, a slight increase in prices is observed in the regional centers, although the growth rates have slowed down. The average cost of apartments increased by 0.8%—from $804 in August to $810 / m2 in September. Moreover, 1-room apartments have risen in price by 1.3% (from $832 to $843 / m2), 2-room apartments—by 0.8% (from $803 to $809 / m2, 3-room apartments have added 0.2% in price: (from $773 to $775 / m2), 4-room apartments increased by 1.6% (from $802 to $814 / m2).

In particular, prices in Dnipro decreased by 0.2% (from $957 to $955 / m2).

  • 1-room apartments have risen in price by 0.1% (from $992 to $993 / m2),
  • 2-room apartments have risen in price by 1.4% (from $967 to $980 / m2),
  • 3-room apartments fell by 1.7% (from $897 to $882 / m2),
  • 4-room apartments decreased by 2.6% (from $1,074 to $1,046 / m2).

In Kyiv, prices on the secondary market have not changed ($1,781 / m2).

  • 1-room apartments have risen in price by 1.4% (from $1745 to $1770 / m2),
  • 2-room apartments decreased by 0.1% (from $1762 to $1759 / m2),
  • 3-room apartments decreased by 0.04% (from $1804 to $1803 / m2),
  • 4-room apartments added 0.5% in price (from $2667 to $2681 / m2).

In Lviv, the average cost of apartments increased by 2.5% (from $1080 to $1107 / m2):

  • 1-room apartments have risen in price by 5.3% (from $1101 to $1159 / m2),
  • 2-room apartments—by 2.2% (from $1089 to $1114 / m2),
  • 3-room apartments—by 0.6% (from $1044 to $1050 / m2),
  • 4-room apartments—by 0.4% (from $1065 to $1069 / m2).

In Kharkiv, prices increased by an average of 1.4% (from $904 to $917 / m2):

  • 1-room apartments—by 2.9% (from $879 to $905 / m2),
  • 2-room apartments—by 1% (from $903 to $912 / m2),
  • 3-room apartments decreased in price by 0.7% (from $924 to $917 / m2),
  • 4-room apartments grew by 2.4% (from $1010 to $1034 / m2).

In Ternopil, prices increased by an average of 4.3% (from $681 to $710 / m2), Ivano-Frankivsk—by 2.4% (from $529 to $541 / m2), in Cherkasy—by 1.8% (from $709 to $722 / m2), in Chernihiv prices on the secondary market increased by 1.6% (from $684 to $694 / m2), in Odesa—by 1.4% (from $1,017 to $1,031 / m2), in Sumy—by 1.3% (from $637 to $645 / m2), in Khmelnytskyi—by 1.2% (from $638 to $646 / m2), in Poltava the cost of housing added 0, 8% (from $799 to $805 / m2), in Zhytomyr and Kropyvnytskyi—by 0.6% (from $727 to $731 / m2 and from $604 to $608 / m2 respectively), in Vinnytsia—by 0, 4% (from $839 to $843 / m2), in Zaporizhzhia—by 0.3% (from $647 to $649 / m2).

In Lutsk, the cost of apartments decreased on average by 2.1% (from $739 to $724 / m2), in Kherson—by 1.3% (from $669 to $690 / m2), in Chernivtsi—by 0.7% (from $774 to $768 / m2), prices in Uzhhorod decreased by 0.4% (from $767 to $763 / m2).

The joint research of the secondary real estate market covers all of Ukraine and separately regional centers (except for Luhansk, Donetsk, and Simferopol). Data collected up to September 2021 (based on published sales announcements). In general, in Ukraine, 236,166 offers of apartments for sale with a total area of 14,683,930 m2 were analyzed.

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