What developers propose in Kyiv in July
What are prices in July for new apartments
When it comes to the new construction market, the first things that come to mind are two questions. First: what's happening with the market, has construction resumed, and second: what about the prices? On one hand, a significant, sometimes two to three times, increase in prices for construction materials should push prices up. On the other hand, reduced demand should push prices down. Therefore, it turns out that developers need to balance on the thin line between the profitability of construction and low demand.
So, how are developers dealing with the situation? What's happening in the market now? Paradoxically, the market is moving in different directions. Some developers are lowering prices, while others are raising them.
According to the investment company InCo home, which invests in Ukrainian real estate and analyzes the market, there is a slight revival in the primary real estate market in Kyiv. The company attributes this to the beginning of demand realization that was postponed in 2022. According to the company's report, some developers agree that there is moderate revival in the market. What could have influenced the demand? Market operators note significant - 27% - inflation, and low deposit rates - 15-17% in UAH.
Where Prices Are Heading
As we mentioned at the beginning, prices have changed differently. Some objects have seen price increases, while others have experienced price decreases.
For example, the GEOS company has lowered prices for apartments in Aria Residential Complex. Comparing current prices with those from a year ago, 89,000 UAH and 63,000 UAH per square meter, we can see a significant, almost thirty percent, price decrease.
On the contrary, we can mention another example: Ok'Land Residential Complex.
RIEL Real Estate Corporation received certificates for the commissioning of the first and second stages in the Ok'Land Residential Complex. However, apartment prices have increased: from 39,000 UAH to 43,000 UAH per square meter, respectively. As you can see, the market is volatile, and there is no clear direction it is heading yet. We are monitoring the real estate market.
P.S. In this material, we have attempted to analyze what is currently happening in the market. The objects and prices for them were selected selectively, so do not consider this material as investment advice.