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25 Feb. 2023

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Real estate abroad: in which countries and for how much do Ukrainians buy housing?

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Real estate abroad: in which countries and for how much do Ukrainians buy housing?

The outbreak of the war forced many Ukrainian citizens to settle abroad. As a result, the demand for housing in various EU countries has increased. Find out more about where you can buy the cheapest housing and the difficulties of buying real estate abroad for Ukrainians

An insurance policy is a guarantee of your safety and peaceful stay outside of Ukraine
An insurance policy is a guarantee of your safety and peaceful stay outside of Ukraine
BUY


Due to russia's full-scale invasion of Ukraine, one in eight Ukrainians has fled abroad. Most refugees have settled in Europe and Asia. As of the beginning of February 2023, 4.9 million refugees had been granted temporary protection in the EU. 


In the year since the war began, most citizens have managed to socialize: they have learned the language, found jobs, and children attend educational institutions. 50% of refugees do not plan to return until the war is over, and every 10 Ukrainians have decided to stay abroad forever. That is why our fellow citizens are increasingly buying real estate abroad, and if earlier they were more interested in the investment attractiveness of housing, now they mostly choose it for their own residence.


The cheapest housing is in Romania, Bulgaria and Georgia. In contrast, prices in the Czech Republic, Poland, and Slovakia are quite high, and only fairly well-to-do Ukrainians can afford housing in the UK. 


How much does real estate cost in Berlin, Warsaw, Sofia, Prague, Bratislava or Tbilisi? More details below. 


Poland


A significant number of Ukrainian refugees, more than a million people, have settled in Poland. The country is also home to many Ukrainians who have moved here in the last 3-7 years.  These two categories of our fellow citizens are currently the most active buyers of housing in Poland. 


Ukrainians mostly prefer housing with an area of 30 to 70 square meters. A one-bedroom apartment of 35 square meters in a residential area of Warsaw costs about $95,000. Closer to the city center, prices are 30% higher on average. The secondary market is 15-20% cheaper than new buildings. 


Warsaw is certainly the most expensive city in Poland, so to save money, you can consider buying real estate in other major cities of the country - Krakow, Wroclaw, Gdansk, Poznan or Lublin. Sometimes you can save up to 40% of the cost of an apartment in the capital. 


Czech Republic


Real estate in the Czech Republic is much more expensive than in Poland. A two-room apartment with a good repair in a residential area of Prague will cost a Ukrainian $350,000, and a small one-room studio apartment in the central part of the capital $160,000. In smaller cities of the Czech Republic, prices are lower. For example, in Ostrava, the third-largest city in the Czech Republic with a population of about 300 thousand people, a one-bedroom apartment costs $58,000-$72,000. 


An important feature is that the Czech Republic has two forms of ownership: private and cooperative. Private ownership means that a Ukrainian buys an apartment, and cooperative ownership means that he or she becomes a member of a cooperative and co-owner of the entire building. Some cooperatives do not accept foreigners as members. 


Germany


Ukrainians who plan to settle in Germany need $130,000 to buy a 33-square-meter studio in a good area of Berlin, while two-bedroom apartments cost from $160,000. In Munich, prices are much higher. The cost of a one-bedroom apartment in a residential area of the city with an area of 35 square meters starts from $260,000, and a two-bedroom apartment - from $450,000.  In addition, the buyer must pay for the services of a broker - 3.57% of the cost of housing.


Bulgaria


Most immigrants from Ukraine in Bulgaria prefer real estate by the sea, in the resort towns of Sveti Vlas, Burgas and Sunny Beach. In addition to a good geographical location, prices here are half as cheap as in the capital. A three-room apartment on the Black Sea in Sveti Vlas costs $75,000. 


Romania


Compared to other European countries, real estate prices in Romania are quite affordable. A one-bedroom apartment in the city of Suceava, which is located near the Ukrainian border, costs $37,000-$40,000. Housing prices in Bucharest, the capital of Romania, start at $55,000. 


Slovakia


Real estate prices throughout Slovakia, except for the capital, are mostly at the same level. A one-bedroom apartment of 35 square meters with a new renovation in the second-largest city in the country, Kosice, costs about $100,000. 


In Bratislava, prices are higher, with a one-bedroom apartment of 40 square meters costing $180,000. In the historic city center, a three-room apartment will cost a Ukrainian more than $500,000.


Spain


Ukrainians who plan to buy housing in Spain prefer the Mediterranean coast. Also, many of our fellow citizens choose to live in the agricultural regions of Andalusia and Galicia, where they can get a job in an agricultural enterprise. 


Prices for one-bedroom apartments in Barcelona start at $160,000. In a small town, such as Manresa, 50 kilometers from Barcelona, you can find a 2-room apartment for $65,000.


Georgia


Prices for apartments in Georgia are close to Ukrainian ones. The average cost of a one-room apartment in Tbilisi starts at $30,000, and a two-room apartment at $45,000. However, most Ukrainians prefer real estate in Batumi, Kutaisi, Gudauri and Rustavi. In recent years, Batumi has experienced a real construction boom, so nowadays, apartments with renovation, furniture and appliances can be purchased for $35,000. To complete a purchase and sale transaction for a newly built or secondary market apartment, all you need is a passport. 


Turkey


Over the past few years, real estate prices in Turkey have increased dramatically, especially in cities on the sea coast. In Alanya, an apartment of 46 square meters costs $70,000. Many apartments in new buildings are sold with cosmetic repairs, a furnished kitchen and a renovated bathroom. 


To learn more about how to obtain a residence permit or citizenship through real estate investment in Turkey, click here.


Great Britain


Real estate prices in the UK are quite high. The price per square meter varies between 10-15 thousand pounds. A townhouse in London costs about 1.5 million pounds. The cost of a 300-square-meter apartment reaches 7 million pounds. 


Are you planning to buy real estate abroad? Get legal advice from a team of experienced attorneys and lawyers. With qualified assistance, becoming the owner of a new home is very easy. 


Difficulties of buying real estate abroad


Buying real estate abroad has many peculiarities. For example, Ukrainians are accustomed to paying for a new apartment in cash, while in Europe, the purchase and sale procedure is carried out exclusively in non-cash form. However, Ukrainians may currently face difficulties at the stage of transferring funds to foreign banks due to NBU restrictions. It is also worth noting that most countries require documents confirming the origin of funds.


You can find out what documents are required to move, how to obtain a residence permit and where to obtain citizenship when buying a home on the Visitworld.Today service platform.




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Relevant tips and advice:


• Cost of living: the most expensive and cheapest cities in the world




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