Prices for apartments in the secondary market in Kiev will not change until the end of 2019, but the primary housing market will rise in price by 10%, experts predict.

New units will cost more

Realtor Rodion Sorokovoy said in an interview with Ukrainian News that prices for lived-in real estate would not change at the moment; they would neither fall nor rise.

As for apartments in new buildings, the expert expects their values will rise, Finance.ua reported.

Exactly how much the values will grow is to be determined by economic indicators, since gasoline and building materials are becoming more expensive, and companies have to raise wages of construction workers and employees who sell properties, because of the minimum wage requirements for 2019. The expert believes that prices will rise by about 10%.

Sorokovoy mentioned that a 1-room apartment in a panel house is priced at around US $28,000, a 2-room unit would be selling for $35,000, and a 3-room flat constructed 50 years ago costs only $25,000.

At the same time, a 2-room apartment in a newly erected building is priced at over $55,000.

Factors influencing property values in Ukraine

Property values in Ukraine obviously reflect the conditions of the market, which had been extremely beneficial for developers in the last 5 years since 2014, when the exchange rate of the Ukrainian hryvnia plummeted from 8 to 27 UAH for 1 US Dollar in a relatively short amount of time. This made many Ukrainians poor and wages in Ukraine are still the lowest in Europe (under USD 400 per month). Thus, construction costs are also much lower than in nearby European countries.

However, the Ukrainian government had been working hard on increasing the minimum wage, which is currently  4,173 hryvnia per month (about US $160). A lot of Ukrainian employees are still receiving minimum wages, especially the people working for small businesses.

As the economy of Ukraine improves with a relatively stable exchange rate for the last few years, property prices are increasing both in dollars and hryvnia.

The window of opportunity for smart investors is closing fast, just like the situation with dating Ukrainian girls is definitely set to change within the next few years. What is possible now, may never be accessible again as the time progresses.

Apartment prices in April 2019

Let’s look at the price range in which apartments in Kiev (Kyiv) were purchased over the past month, as reported by Finance.ua.

• $20,000 — a 1-room apartment with an area of ​​33 m² on Boychenko street in the Dnieper district of Kiev.
• $24,000 — a 1-room flat with an area of ​​26 m² on Copernicus street in the Shevchenko district.
• $50,000 — a 1-room unit 51 m² on Novogospitalnaya street in Pechersk district.
• $51,000 — a 2-room unit 79 m² in a new building on Balzac street in Desnyansky district.
• $68,000 — a studio flat of 56 m² in a new building on Rybalko street in the Shevchenko district.
• $100,000 — a 1-room apartment 57 m² in a new building in Druzhby Narodov street in Pechersk district.
• $101,000- a 3-room flat with an area of ​​113 m² on Nikolskaya Slobidka street in the Dnipro region.
• $190,000 – a 1-room unit on Navodnitskaya street in Pechersk district.
• $250,000 – an unit of 340 m² on Copernicus street in the Shevchenko district.
• $670,000 — a penthouse of 330 m² on Heroes of Stalingrad street in Obolon district.

All prices are in US Dollars.

Read also:

• Most popular price range for apartment purchases in Ukraine
• Ukrainians are starting to value houses in suburban areas more than city apartments
• Prices in Ukraine: Goods, services, transport, education, medical
• Forbes: Kiev is Eastern Europe’s diamond in the rough