Housing prices are rising: which apartments have seen the biggest increase over the past year?

In 2024, the prices for residential real estate in Ukraine increased by an average of 12.7% compared to 2023. The largest price hike was observed in two-room apartments on the primary market.

This information is reported by RBK-Ukraine citing the State Statistics Service (Gosstat).

Thus, the increase in housing prices was slightly above the official inflation rate of 12.0%. In dollar terms, the price increase was nearly negligible, as the cash dollar exchange rate rose by 11% over the year.

According to the statistical agency, prices for apartments in the primary market rose by 15.0% in 2024, while in the secondary market, they increased by 11.6%.

One-room apartments in the primary market saw a price increase of 14.9%, while in the secondary market, they rose by 11.5%. Two-room apartments in the primary market increased by 15.3%, and in the secondary market, by 11.9%. Three-room apartments in the primary market rose by 14.8%, and in the secondary market, by 11.5%.

Real Estate Market

In December, the NBU noted that the real estate market in Ukraine is gradually recovering. However, security risks prevent any discussion of rapid growth.

According to the NBU report, rental prices have increased in line with housing prices over the past six months. Consequently, the "price-to-rent" ratio in Kyiv remains at around 10x. This is close to the long-term average and indicates that purchasing property is a good alternative to renting.

It is worth noting that the average monthly rent for a one-room apartment in December 2024 was 7,203 hryvnias. The rent increased by 9.3% over the year against an overall inflation rate of 12.0%.