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Prices for new economy class housing in Kyiv increase by 8%, to UAH 33,900/sq m – M4U
KYIV. Nov 7 (Interfax-Ukraine) – The number of active construction sites in the capital increased to 185 in October, while price growth slowed down and economy class rose the most, M4U founder Volodymyr Danylenko told Interfax-Ukraine.
According to M4U, in October, work was carried out at 185 construction sites in the capital, which is 6.9% more than in September, and 26.3% less than before the Russian full-scale invasion.
The growth in the cost of square meter in objects under construction in Kyiv in September amounted to only 1.7%, the average price was UAH 60,477/sq m.
However, M4U analysts note a trend change: if earlier comfort and business classes showed the greatest price dynamics, then in October the highest rate was in the economy class, where a square meter rose by an average of 8%, to UAH 33,882. At the same time, the average cost of comfort class increased by only 2.7%, and business class even decreased by 0.5%. A square meter in new buildings of the elite class increased in price by 2.5%.
"This situation is not typical for the real estate market in Kyiv in recent years, but it is quite natural. New attacks on Kyiv and problems with the energy infrastructure are reducing the already low demand. Developers are trying to contain price increases and offer their customers attractive purchase conditions. At the same time, the growth in construction costs continues. The economy class has the lowest margins, so developers are forced to raise prices to cover the cost increase," Danylenko said.
According to M4U, the largest number of apartment offers is concentrated in the price range of UAH 26,000–48,000 per sq m. Comfort-class offers prevail in this segment. Most of the objects under construction and for sale are still located in Holosiyivsky (28 residential complexes), Pechersky (27 residential complexes) and Shevchenkivsky (26 residential complexes) districts of Kyiv.
The Ukrainian proptech company M4U, established in February 2020, specializes in the development and implementation of complex intelligent solutions in the field of real estate development.
