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In Lviv, the price of real estate is rising, despite the invasion of Russia

Квартирне питання: особливості покупки та падіння цін на ринку України

On April 19, the government unblocked the process of buying and selling residential real estate, so Ukrainians in some regions can now become owners of a new apartment, albeit with some clarifications. What are the conditions dictated by the wartime real estate market and where in Ukraine now apartment prices are more affordable than before the war – in the analysis of OLX Real Estate.

How have apartment prices changed since the Russian invasion?

After the real estate registry is unlocked, the market in Ukraine is reviving: there is some demand, especially from internally displaced Ukrainians, but there are more and more offers from sellers. As for prices, in some places they have increased insignificantly, and some types of housing – on the contrary – have become more affordable.

Thus, housing prices in Kyiv have become slightly cheaper since 2011. According to OLX Real Estate analytics, one-bedroom and two-bedroom apartments here now cost 8.5% and 5.5% less, respectively. Also, the price of one-room apartments decreased slightly: on the secondary fund apartments fell by 6% compared to February, and in new buildings – by 5.4%.

Dynamics of prices for apartments in Kiev, $

In Lviv, the average cost of apartments has increased slightly. All types of residential real estate in the city began to rise in price before the Russian invasion. For example, during the peak period in the market (from September to November), a one-room apartment in the secondary fund could be purchased for $ 35.5 thousand, and in a new building – for almost $ 46 thousand. In the last pre-war month, the average price per square meter increased by another 5-6%. Despite the temporary suspension of the market throughout Ukraine, the cost of housing in the city of Leva continued to rise in April. So, if you compare the prices for one-room apartments in Lviv now and in February, the increase is another 3-5%, depending on the type of house.


Dynamics of prices for apartments in Lviv, $

In the Dnieper fell in the price of apartments in the housing stock since 2011. Moreover, prices are now even lower than in the fall, when the real estate market is traditionally experiencing a “boom” in sales. Yes, in February the cost per square meter increased, and now decreased again. If you compare prices, one-room apartments fell in price by 6.5%, two-room apartments cost 10% less, and three-room apartments – by 12.5%. Prices also fell in new buildings in the city. Compared to February, one-room apartments fell in price by 3.5%, two-room apartments – by 19%, while three-room apartments went up by 3.5%.

Dynamics of prices for apartments in the Dnieper, $

Buying and selling housing during the war: what has changed

Under martial law, the market for the sale of housing operates with certain restrictions that prevent real estate fraud. So if you plan to put the apartment up for sale, or – conversely – want to buy, pay attention to the following clarifications from the President of the Association of Realtors of Ukraine (AFNU) Yuri Piti:

Not all notaries will be able to make a purchase and sale of housing. The Ministry of Justice has compiled a list of specialists who have access to the real estate register and the right to certify the relevant agreements. Thus, the government seeks to attract to the market of purchase and sale of housing only bona fide notaries.
It is forbidden to sell housing on the basis of a power of attorney. This means that the owner of the apartment must be present at the conclusion of the agreement. In turn, if you are a buyer and can not come in person to sign the necessary documents, you can use a power of attorney.

Purchase and sale of the object is possible only in the unoccupied territories and is made out at the location of housing. Currently, access to the registers has been unblocked only in controlled towns and villages. At the same time, restrictions were imposed on the place of registration of the object. This means that to buy an apartment in Uzhgorod, you can only apply to notaries in the Transcarpathian region, in the Dnieper – in Dnepropetrovsk.
It is forbidden to sell real estate that is registered in less than a month

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