Safe housing — a new standard: how the war is changing the real estate market in Ukraine
21 July 21:49
The war has had a significant impact on the real estate market in Ukraine. Developers are now increasingly focusing not only on comfort, but also on safety, autonomy, and the adaptability of buildings to emergency situations, "Komersant Ukrainian" reports, citing UTG.
In new buildings and shopping centers, there are dual-purpose rooms – when the space can be used as a regular cafe or beauty salon, and in the event of an air raid, it turns into a shelter. Most often, underground parking lots, basements, and ground floors are adapted in this way. Many facilities are also setting up autonomous workplaces and invincibility points where you can charge your phones and keep warm during blackouts.
Shopping centers are also changing. Due to the war, demand for cinemas, gyms, and service centers has decreased, while interest in stores selling goods for the military is growing. Ukrainian manufacturers are becoming more popular among retail tenants. Foreign brands, on the other hand, are reducing their presence, opening new stores less often and relying more on online sales.
Due to these changes, developers are revising lease terms and trying to make their projects more cost-effective.
In residential construction, developers are increasingly guided by the experience of Israel. In new buildings, they make thicker concrete walls, build fortified shelter rooms with armored doors and special glass that can withstand a blast wave.
They also provide places for fireplaces that can be used for heating and cooking during power outages. Autonomous heating, ventilation and communication systems are increasingly being used.
Read also: Demand for commercial real estate is growing. But only in Kyiv
Another important change is the growing attention to the needs of people with limited mobility. Buildings are being designed to be convenient for people with disabilities, war veterans, and the elderly. In addition, developers are looking for new regions for construction – as far away from the front line as possible – and are developing alternative areas, such as housing with an increased level of security.
UTG experts emphasize that even if Ukrainians’ incomes have decreased, investors and buyers still pay attention to safety and reliability.
UTG is a full-cycle company that accompanies developers at the stage of conceptualizing, implementing, designing, and building business projects through consulting support.
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