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November 23, 2024
PI Global Investments
Real Estate

The price of real estate on the primary market is rising despite low demand.


The key problem of the primary real estate market is the drop in demand: Ukrainians postpone the purchase of housing until victory if there is no extreme need for it. Also, buyers now prefer the secondary market or almost completed housing. Despite this, the price of primary housing has increased in almost every region of Ukraine over the past six months. Also, the pace of putting housing into operation increased by 50%. Lviv remains the most expensive city in the country. Over the past six months, the price per square meter there has increased by 6%, and today, it averages ₴57,000 ($1,378) per square meter. In Kyiv, the price increase was 10%, with the median price per square meter being ₴54,000 ($1,306). Uzhhorod showed the largest price increase – 13%, up to ₴49,000 ($1,185). During the war, the population in Uzhhorod increased by 35%. This was the reason for the construction boom and the sharp price increase.

 



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