The church in Kyiv during the war time

Updates from Kyiv: Ukraine Real Estate Market and Life Amidst Conflict

Greetings, everyone! Today is October 31st, and I hope you’re all doing well. Happy Halloween to those who celebrate it! Here is another Kyiv market update from Vestor.Estate.

Kyiv market update

This morning, we woke up to some unsettling news: another bunch of missiles was sent from Russia. Unfortunately, this time we also experienced a brief water shortage. While it was a bit inconvenient, I think the situation will be resolved soon enough. However, I don’t expect these attacks to dramatically affect the morale of the Ukrainian people or their willingness to keep fighting.

In other news, I’ll be leaving in a couple of days for a few weeks of business meetings in Warsaw. Some investors are interested in doing some big projects in Ukraine, which is encouraging to see. People with serious capital are already getting interested in Ukrainian real estate issues, even during the war and especially after. That’s the goal.

Market Impact

As far as the market goes, these attacks don’t impact the Ukrainian people’s willingness to fight, but it definitely affects the market. The last two months were the busiest I’ve ever seen for rentals, but in the last couple of weeks, it’s gone down by 90%. It could be seasonal, or maybe everyone who’s coming has already moved here. However, there is some impact from the missile news. Organizations are trying to help people in those environments. On the sales side, things are starting to weaken. A couple of places that are on the market and almost at pre-war prices are reaching out and saying they are willing to negotiate. We’ll see how much; not 50% like everyone would like to see, but I think it would be something. We’ll have to wait and see how it goes through the winter.

Life in the City

As for life in the city in general, people kind of get used to these things. As more and more attacks happen, the city comes back faster. After the first attacks three weeks ago, people stayed home for most of the day and started returning the next day. But now, it’s basically a matter of an hour or a couple of hours, and people are back on the street. I had lunch today, and there was no water, but the restaurant was completely full. Life goes on, and luckily, we had pretty good weather. You can see it’s an absolutely gorgeous fall day, a bit chilly with the wind and stuff, but overall good.


That’s all for now. I’ll give you more Kyiv market updates when I get back next time. Thank you for reading, and have a good day!

Sean Almeida

— Founder & CEO of Vestor.Estate

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