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24 Oct. 2022

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Renting apartments in Ukraine: how prices for apartments in Kyiv and regions will change

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Renting apartments in Ukraine: how prices for apartments in Kyiv and regions will change

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The real estate market of Ukraine reacted to the renewal of massive rocket attacks on civilian infrastructure. This caused a drop in rental prices for apartments in Kyiv and, conversely, an increase in rental prices in small towns and villages in the regions closer to the western regions.


The cost of renting apartments in Ukraine


Realtors now note the tendency for prices to resume upward growth and predict a further increase, because the problem of rocket attacks, according to the authorities, should be minimized in the near future. Therefore, a new wave of requests for housing rent is expected not only in the capital, but also in other cities of the central part of Ukraine.


Demand for rent also remains due to the influx of immigrants from other regions to the capital on the eve of winter.


At the beginning of October, tendencies towards a decrease in rental prices began to be observed in Kyiv. In general, a slight drop in value was caused by shelling of energy infrastructure facilities.


It is expected that in the future the market will stabilize and move to a gradual growth to the level of inflation. In general, the two factors mentioned above – demand from displaced people and inflation – will continue to put pressure on rental prices. As a result, prices may rise by another 10% in the coming months.


Rental pricing in the western regions is even more prone to speculation - because of this, it is difficult to predict price dynamics there.


Average prices for renting housing in Kyiv in October 2022


Two-room apartments located on "low" floors are in the greatest demand in Kyiv - people are afraid of power outages and the possibility of getting stuck in the elevator if it is a high-rise.


In particular, during September, the demand not only for economy housing, but also for the business category of apartments recovered.


At the same time, cheap housing is also in demand. Over the last month, according to AFNU, prices for the social segment of housing have increased by 10-15%. At the same time, 2-room apartments in the capital can still be found from UAH 6,000 per month, but these are options on the outskirts of the city.


Currently, the median price for renting a one-room apartment in the capital continues to grow and has reached UAH 10,000. On the eve of the war, this figure was UAH 13,000 per month.


The average rental rate for two-room apartments increased by 12.5% ​​to UAH 16,000, while a month ago the price was UAH 14,500.


The situation is similar with three-room apartments - the increase in the median price is 19%. Now such an apartment can be rented for UAH 25,000 until February 24, similar housing cost UAH 46,100.


Pecherskyi and Shevchenkivskyi remain the most expensive areas for housing rent. Cheap housing can be rented in Desnyansk and Svyatoshynsk districts.


The cost of renting housing near critical infrastructure facilities


In real estate facilities adjacent to critical infrastructure, apartments will be rented at a discount. It is assumed that its percentage will be calculated individually. In some cases, concessions to tenants will not directly apply to the rental rate. Among the alternatives is the abolition of the requirement to pay a security deposit for the first and last month of use of the rented housing.


In particular, in the case of buildings with autonomous heating systems, individual payment terms of the utility company can also be considered.