Renting apartments in Kyiv after a harsh winter: why prices haven't dropped and what's happening in the market

The rental market in Kyiv has remained stable after a harsh winter, despite power cuts and heating disruptions. Find out why prices haven't dropped, how demand has changed, and what's happening in the affected areas of the capital

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After months of power outages and heating disruptions, the rental market in Kyiv did not show the expected drop in prices. As of the end of February 2026, the average cost of renting a one-room apartment in the capital was 17,000 UAH. Over the past month, the price has not changed, and on an annual basis, it has remained at the same level. This is evidenced by data from LUN.

Rental dynamics in Kyiv: from peak to stabilization

Rental rates peaked in August 2025, when the average cost of a one-room apartment reached UAH 20,000. After that, prices gradually declined, and within six months, the market lost about 15% of its peak level.

At the end of autumn, rents began to rise again. However, in January–February 2026, when Kyiv experienced frequent power outages and interruptions in heat supply, the growth stopped.

“We are seeing a situation that is atypical for Kyiv: prices are not rising year on year. For the capital, this is rather an exception,” notes Lyudmila Kiryukhina, head of LUN Statistics.

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Areas without heating: did the crisis affect prices?

In most areas of the capital, rental rates have increased over the year. At the same time, in the Dniprovskyi and Darnytskyi districts, which were most affected by the lack of heating, prices remained at last year's level.

LUN separately analyzed buildings on the left bank that were disconnected from the heat supply. As of February 24, there were 249 rental listings in such buildings, compared to 274 at the end of January. The change is not statistically significant, meaning that there was no mass influx of apartments onto the market.

Similarly, there has been no significant drop in prices in these buildings — rental costs remain stable.

According to Lyudmila Kiryukhina, the market in the affected areas has effectively taken a wait-and-see approach. For prices to actually fall, tenants would need to move en masse. However, in difficult circumstances, people often choose to wait out the crisis period.

Apartment owners are also in no hurry to lower their rates, focusing on December prices before the shutdowns and hoping for a quick normalization of the situation.

Demand for rentals: decline and recovery

One of the key indicators of demand is the average time it takes to find a tenant. In early January, an apartment in Kyiv was on the market for an average of 9 days. After the shelling on January 11, this figure rose to 15 days. This means that during the period of severe frosts and heating outages, demand fell by about 40%.

However, at the end of February, the average exposure period decreased to 10 days. This indicates a gradual stabilization of the market and a return of demand to almost the level of the winter holidays, which is traditionally not high.

The situation shows that even during a period of energy instability, the capital's rental market did not collapse.

Demand temporarily decreased but quickly recovered.

For tenants, this means that a significant reduction in housing costs is not to be expected at this time. For owners, it means that a wait-and-see strategy can be effective in short-term crises.

Separately, it is worth considering the risks for property owners in wartime. Damage to housing or other force majeure circumstances can have financial consequences. That is why more and more Ukrainians are considering the possibility of taking out express property insurance, including through Visit Ukraine — this allows them to minimize risks and protect their investment even in unstable times.

We remind you! In December, Ukrainian banks issued almost UAH 2 billion in mortgage loans, with the largest amount going to the Kyiv region and the capital. Read about the current rates, where most mortgages are taken out, and how the real estate market is changing.

Photo: freepik

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