Kyiv Market Update: Early Spring Update
Hi, Sean is here! Recently I came back to Ukraine, and here is my Kyiv Market update; as I walked through the streets, I couldn’t help but notice the unusual warmth in the air. It’s January, yet I’m dressed pretty lightly – I even gave my jacket to the dry cleaners for a week because I didn’t need it. This kind of weather is very unseasonably warm for Ukraine, but it’s a welcome change. The heating is on for the most part too, which is a relief, as it doesn’t put less pressure on the system.
Life in Kyiv Amid Conflict: Normalcy and Hope
It’s been a while since the last attack, and life in the city is going on pretty normally. The recent holidays made things quieter than usual, but things are starting to pick up again now that they’re over. I’ve already received several requests for rentals from expats, which is a good sign.
However, the real estate market is still struggling. Prices are starting to slide down, but buyers are hesitant to make a move, given the uncertainty surrounding the ongoing war. Buyers are looking for amazing deals, and even though some sellers are lowering their prices, it’s not enough to seal the deal. As a result, there are very few deals in the market, probably down 70-80% from the usual rate.
Distinguishing Features of Kyiv’s Real Estate Market Every Investor Should Know
If you are a foreigner who decides to invest in Kyiv's real estate market, you will make the right decision as you will get quite high returns.
Rule of 3 “D”: Do Due Diligence
It is no secret, Ukraine's real estate market is currently developing, which is inevitably related to some risks due to the lack of specific information about properties.
International Support for Kyiv: Encouraging Signs Amid Conflict
That being said, I’ve heard through various sources that the UN might send 500+ people to Kyiv this year, which is a positive sign. Other organizations seem to be into the rhythm of things and are sending people too, knowing the risks. This should help boost the rental market, as employers won’t have to worry about their employees freezing or anything like that, even if there are attacks or electricity outages.
Overall, life in Kyiv continues, despite the ongoing conflict. People go about their business as usual, adjusting to the occasional alarms and news of the war. We’re looking for more support from our partner countries, but we’re grateful for the support we’ve already received. It’s encouraging to see that the international community is not turning a blind eye to the situation, and I hope this support continues. I’ll continue to keep an eye on the situation and provide updates in the future.
— Founder & CEO of Vestor.Estate