Buying real estate has its advantages, such as the ability to live in your own home without restrictions, use real estate for investment purposes, and the possibility of securing a stable place to live in the future. However, renting can be more financially beneficial. Find out what the dynamics of housing prices and real estate purchases are now

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In the first quarter of 2024, Ukrainians became more active in land and real estate transactions, according to the Unified Register of Notarial Forms of the Ministry of Justice. 

During this period, more than 185,000 land alienation agreements were executed, which is 36.4% higher than before the outbreak of the full-scale conflict. There was also a 55% increase in the number of agreements on the alienation of other real estate, according to the analysis of the Opendatabot service.

We will tell you how the demand for land and real estate in Ukraine has increased in the article.

Ukrainian citizens are buying and selling land more often

Detailed data show that notaries have drawn up 185,000 land alienation agreements in the first quarter of 2024 alone, which is 56% more than in the same period last year (119,000 forms). 

The number of such agreements increased by one third compared to the previous period before the war. At the same time, the number of agreements on alienation of real estate other than land increased 1.5 times. In the first quarter of this year, more than 181,000 such transactions were concluded, a significant increase compared to last year, when almost 117,000 transactions were recorded.

However, these figures are still 16% lower than before the outbreak of the full-scale war, when just over 216,000 forms were used for land alienation. It should be borne in mind that there may be more than one notarial deed per notarial form, so the number of deeds is indicative and is compared to previous years.

It is emphasized that in the period from 2015 to the beginning of the great war, the Ukrainian real estate market experienced steady growth. This was especially true until 2021, when the government opened the land market. During this period, housing transactions dominated over land transactions, but in 2021 these numbers were almost equal. With the outbreak of a full-scale war, there is a tendency for people to invest more in land.

In 2023, the number of real estate properties purchased by Ukrainians increased 1.7 times, reaching 404,519 units, compared to 234,157 the previous year. According to the Ministry of Justice, the 1.7-fold increase was observed in both the residential and land segments.

The total number of notarized forms used last year increased by 2.6 million, but remains lower than before the outbreak of full-scale war.

Real estate market in Ukraine: renting or buying real estate is more profitable in 2024

According to kosht.media, a study of the real estate market by the Ukrainian marketplace DIM.RIA confirms that Kyiv remains the leader in terms of the average price per square meter in both the primary and secondary markets in Ukraine. 

Particularly impressive is the high price tag of private houses in the Kyiv region, where it reaches $163,705. For comparison, Odesa region ranks second in terms of price per square meter, with an average of $122,156 per private house.

In April 2024, 76% of sales departments of new buildings in Ukraine remained active, with the highest rate recorded in the Zakarpattia region - 97%. In terms of the share of completed new buildings, Kyiv region is the leader with 30%.

In Ukraine, in the middle of spring 2024, 10 new buildings with 21 sections were commissioned. Since the beginning of the year, 182 new buildings with 345 sections have been commissioned in the country, of which 21 are located in Kyiv (46 sections).

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Primary market

In April, the average price per square meter increased in the primary market. The highest price on the real estate market was recorded in Kyiv - UAH 54084 (taking into account all types of apartments by number of rooms). At the same time, in Sumy and Kharkiv regions, the average price per square meter decreased by 4% and 2%, respectively. 

A noticeable increase in the average price of new buildings was observed in Poltava region - 7%.

Secondary market

As for the dynamics of prices in the secondary real estate market, according to analysts' analysis, the supply of apartments in this segment in Ukraine is mainly growing. In April 2024, compared to March of the same year, the number of ads decreased significantly in only two regions - Kyiv and Cherkasy region, by 20% and 10%, respectively.

What is the cost of renting an apartment in Ukraine?

The average price of a one-bedroom apartment in Kyiv in April 2024 is $95,530. In Lviv region, the cost is $69,060, and in Zakarpattia region - $60,022. The largest price increase over the year is observed in Cherkasy and Ivano-Frankivsk regions - 43% and 42%, respectively.

The analysis of the average cost of a one-room apartment with and without renovation shows that the largest difference in price is observed in Lviv - 55%. In Kyiv, the difference in price is only 5%.

The real estate market with private houses has interesting dynamics that are reflected in the study. Over the period from 2021 to 2024, the supply of houses in the West of Ukraine increased significantly, while in the South there was a decline.

The average price of a private house in Kyiv region is $163,705, and in Odesa region - $122,156. Compared to 2022, house prices in all regions except Odesa and Dnipro showed a significant increase. In Odesa region, prices fell by 18% in 2022, and in Dnipropetrovs'k region - by 11% in 2024.

In April 2024, the dynamics of apartment rental prices is reflected in different regions of Ukraine. Rental supply in the real estate market decreased in Chernihiv, Poltava and Zakarpattia regions. During the year, the number of advertisements increased by 50% in Volyn region, and in Lviv region this figure reached 41%.

In Kyiv, the average rental price for a one-bedroom apartment in April 2024 is UAH 17,348, which is 3% less than in March. In the region, the average price is UAH 9,976. The Zakarpattia region shows a significant drop in rental prices: by 28% since March and by 3% over the year.

We remind you! Real estate prices in Ukraine continue to show an upward trend, especially in major cities and their regions. Demand for apartments and houses remains consistently high. However, depending on the region and location, apartment prices can vary significantly. Find out more about how much it costs to buy a home in Ukraine.

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