Since the beginning of the war, the real estate market in Ukraine either froze, or chaos was observed. On the “secondary” apartments either rose in price or fell in price, some discounts were even up to 70%. Currently, prices have more or less stabilized, although they have not reached pre-war levels, the Ministry of Finance writes.
Realtors note that, on average, compared to the pre-war period, housing has fallen in price by 10-15%, and in the expensive segment - up to 30%.
Expectations of real estate specialists for a larger fall did not come true, several factors prevented.
The main one is balancing supply and demand.
Since the beginning of the war, demand has fallen significantly. Most of those who planned to buy an apartment have postponed this decision until better times. Similarly, the supply of housing for sale has significantly decreased. Advertisements for the sale of housing has decreased significantly.
Experts note that, despite the war, real estate remains a fairly reliable and stable financial instrument, so they are in no hurry to get rid of it.
The main deterrent to price stabilization was the fact that the number of buyers decreased and there were fewer people willing to sell property.
Real estate prices, despite their relative stabilization, remain quite heterogeneous. For example, for one-room apartments of approximately the same parameters, $40,000, $50,000 are indicated, and there are more than $70,000.
From the second quarter, experts expect a revival in the real estate market. There are several reasons for this - the most important, of course, successes at the front.
For $20,000, you can count on a small-sized one-room apartment - 17-22.5 sq m, without renovation, in a remote area.
This amount can be used as a down payment for a mortgage. Now the state program on preferential mortgages is operating, according to which you can take housing at 3-7% per annum.
Given that the vast majority of banks now want a down payment of 40% of the value of real estate, having $20,000 on hand, you can consider housing up to $50,000, which will be an order of magnitude better, bigger and newer.
According to realtors, the working cost of a square meter of housing in Kyiv is $1,000. For this money, you definitely need to focus on one-room apartments.
You can also find a “studio” with a good repair in a good area, or a Khrushchev apartment up to 30 sq m, or a more spacious apartment without renovation in a new building, with a not very good location.
To buy a two-room apartment, you need to have at least $32,000.
$50 thousand is the budget that will allow the buyer to choose. For such a price, you can choose not only a luxurious one-room apartment in a good area of Kyiv with a new renovation, but also a decent “kopeck piece”. We are talking about the secondary market.
Previously wrote how much it costs to rent an apartment in Kyiv.
Source: Fakty
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