Blackouts and rent: where prices in Kyiv have remained stable, and where they have risen by 8%
15 February 08:42
Despite serious disruptions in electricity and water supply, the real estate market in Kyiv is showing unusual stability. Even in areas most affected by utility crises, homeowners are not rushing to lower prices, opting instead for a wait-and-see strategy.
This was reported by Lyudmila Kiryukhina, head of LUN statistics, in a comment to RBC-Ukraine, according to "Komersant Ukrainian".
Key points:
- Price stability: In the Darnytskyi and Dniprovskyi districts, monthly rent prices have not changed (0%), while in other districts of the capital, an increase of 3-8% has been recorded.
- The market has frozen: Instead of a collapse in prices, there has been a drop in the number of new deals, with tenants and owners postponing decisions until the situation stabilizes.
- Secondary market is growing: Despite the war, housing prices have jumped by 16-18% over the year, and the average cost per square meter in new buildings has reached $1,320.
The impact of blackouts on prices: the situation in the districts of Kyiv
“Over the past month, most of the buildings affected by water, electricity, and heating outages have been on the left bank of Kyiv. However, if we look at the behavior of the rental market over the past month, the figures show a restrained reaction,” says Lyudmila Kiryukhina.
According to LUN, the cost of renting one-room apartments per month has not changed:
- Dniprovskyi district – 0% increase,
- Darnitsky district – 0% increase.
“That is, in the short term, in the context of significant disruptions to basic utilities, we do not see a sharp decline in prices. But the market has frozen in the most affected areas, while in others, prices have risen by an average of 3-8%,” adds the expert.
The Desnianskyi district remains the cheapest in Kyiv. Currently, one-room apartments there cost an average of 9,350 hryvnia, two-room apartments – 11,500 hryvnia, and three-room apartments – 13,000 hryvnia.
In the Dniprovskyi district, one-room apartments are rented for 14,000 hryvnia, two-room apartments for 15,000 hryvnia, and three-room apartments for 29,900 hryvnia.
Rental prices for one-room apartments in other districts of Kyiv:
- Pechersk – 36,800 hryvnia
- Shevchenkivskyi district – 28,000 hryvnia
- Holosiivskyi – 20,000 hryvnia
- Podilskyi – 19,000 hryvnia
- Solomyanskyi – 15,000 hryvnia
- Darnytskyi – 15,000 hryvnia
- Obolonskyi – 14,000 hryvnia
- Svyatoshynsky – 13,000 hryvnia
Forecasts and dynamics: what to expect next
“At this stage of full-scale war, the market is behaving differently than in the first months. It is not collapsing – it is freezing. Some tenants are postponing decisions, the number of new deals is decreasing, but owners are in no hurry to adjust prices downwards,” says Kiryukhina.
According to her, previously, when the situation stabilized, activity gradually resumed, and the market returned to slow growth – in proportion to demand and people’s confidence levels.
“This can be expected now as well, if the situation with the most affected areas and buildings normalizes in the near future. This shows that the rental market in Kyiv has become more resistant to short-term crises. LUN keeps its finger on the pulse and monitors the slightest market fluctuations, and in case of changes, we will report them,” says Kiryukhina.
We would like to add that prices for all types of apartments on the secondary market in Kyiv have risen over the course of the year.
Housing costs:
- one-room apartment – $70,000, price increase over the year – 16%;
- two-room apartment – $112,000, price increase of 17%;
- three-room apartment – $165,000, price increase of 18%.
New buildings also saw growth, with the average price per square meter on the primary market at $1,320. The price is second only to Lviv.
