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The real estate market in Ukraine is currently experiencing an astonishing boom. According to Tamedia newspapers, despite the uncertainty caused by Russia’s war of aggression, purchases of modern apartments in particular are on the rise. There was a 70 percent increase in the number of real estate transactions in 2023 compared to 2022. Accordingly, 404,000 flats changed hands.
The main drivers of this boom are different groups of buyers: The first and largest group are people who want to move to a less secure city in Ukraine or who are betting that important regions such as Kiev and Western Ukraine will be better defended than their own. . The second group is people who moved to large companies that relocated due to war or left occupied territories. This is especially true in the city of Dnipro, where new arrivals from surrounding Russian-occupied regions have increased property prices, according to the report.
Last but not least, there are also soldiers or medics who serve or have served in combat; The salary is high compared to the cost of living. Many people now want to invest their money in safe investments, and modern high-rise buildings are also considered as such. A real estate consultant from Kiev told Tammedia that even if debris falls on buildings, the damage is usually limited. Private investors have almost completely withdrawn from the market.
There is demand for parking areas and warehouses
The location of real estate also plays an important role: Buildings in safer areas, further away from strategically important infrastructures such as airports, power plants or military facilities, are preferred. According to Tamedia, preferences inside buildings have also changed: apartments on lower floors are more popular than apartments with panoramic views.
Finally, another real estate sector in Ukraine is experiencing a small renaissance: parking lots and warehouses are becoming best sellers. The security aspect is the driving force here: shelters and underground parking lots are popular because they provide shelter for people and vehicles. (rule)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
