Rent in Kyiv considerably cheaper than in west of Ukraine, research shows

12 February, 05:30 PM
A tenant market has formed in Kyiv. Those who want to rent a house can choose from dozens of options (Photo:designer491 / Depositphotos)

A tenant market has formed in Kyiv. Those who want to rent a house can choose from dozens of options (Photo:designer491 / Depositphotos)

Rent in the capital has fallen by an average of 30-40% over the past year, but there are few people willing to rent, and in the west of the country, renting a home is now more expensive than in the capital

For two months now, we have not been able to rent out a two-bedroom apartment in Kyiv on Drahomanova Street (Poznyaki) for UAH 11,000 ($299) per month, says Dmytro Korchev, director of Brok-Realty agency.

Even a price reduction from UAH 14,000 ($381) per month did not help, the expert adds. In the pre-war period, such housing would have been rented out in a week or two and would have cost tenants UAH 15,000-16,000 ($408-436) per month, not including the cost of utilities.

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After the outbreak of full-scale war., Kyiv landlords are not only willing to offer discounts, but also make other concessions, such as renting to tenants with pets.

In the west of the country, in Lviv, Uzhhorod, and Chernivtsi, you can rent housing without any problems, but it will cost more than in Kyiv.

Renter’s market in Kyiv

A "renter's market" has formed in the capital — anyone willing to rent a home can choose from several dozen options.

"Demand was most active in August and September, and now it is at a minimum," says Oksana Suslova, director of the Livyi Bereh agency.

The requirements for housing have changed too. Tenants are not ready to live in apartments located near critical infrastructure facilities, such as thermal power plants, military units or factories producing military goods, or above the 9th floor. Housing in buildings that do not have power outages is in the highest demand.

Just like before the war, most tenants are attracted to homes in new buildings. Suslova says that while before the war it was possible to rent an apartment in a Khrushchev-era building for UAH 8,000-10,000 ($218-272) per month, now homeseekers can rent one in a new building for that money.

"Of course, a lot of people are taking advantage of the opportunity and moving to more comfortable housing," says the expert. Moreover, landlords allow pets to move into apartments.

Prices are also surprising. Nowadays, you can find an apartment in a residential neighborhood of the city for UAH 5,000-7,000 ($136-191) per month, excluding utilities, like a two-room “Khrushchevka” apartment with pass-through rooms on the first floor of a five-story building.

An apartment in good condition can be rented for UAH 6,500 ($177) per month. For UAH 10,000 ($272) per month, you can rent a one-room newly renovated apartment of 45 square meters in the Comfort Town residential complex. And for UAH 12,000 ($327) per month, you can live in the very center — rent a decently decorated apartment on the top, third floor of a building on Saksaganskoho Street and 500 meters away from the Sports Palace metro station.

Pricey regions

In Chernivtsi, housing is mostly rented by IDPs — residents of Kharkiv, Sumy or Kyiv, says Zoriana Vakarchuk, a realtor at Real Estate Gallery. She adds that there is no rush demand, as there was last spring, but the number of people who want to rent an apartment is not decreasing.

"You can find housing without any problems. However, its cost is about 10-15% higher compared to the pre-war period and is denominated in dollars. A one-room apartment can be rented for $150-500 per month, says Vakarchuk.

"A one-room well-maintained apartment will cost an average of $300 per month," the expert adds. This is, on average, more expensive than housing in a new building in Kyiv.

The same trend is observed in Lviv. According to the LUN housing monitoring service, the median cost of renting a one-room apartment in Lviv is UAH 13,500 ($368) versus UAH 9,000 ($245) in Kyiv, which means renting in the capital is now 50% cheaper.

"Lviv has become a ‘stronghold’ since the beginning of the war. Despite the missile attacks and problems with electricity, many people continue to choose it as a ‘safe alternative’ to Kyiv during the full-scale war," the study says.

Local realtor Olena Harbuzova says that apartments in the city are very sought-after.

In Uzhhorod, you can rent a one-room apartment in a normal condition for UAH 10,000 ($272). Living near the city center will cost much more — the price of housing is usually denominated in dollars and amounts to $400-600 per month.

There are still available options, says realtor Alla Veklych. And, obviously, they are only available because the provincial center of Zakarpattya often has power outages — up to 16 hours a day.

The rental market instantly responds to changes in demand and news from the frontline. As soon as demand starts to grow, prices will immediately go up. Much depends on whether and where Russian troops will be able to launch a large-scale offensive, which has been expected for several weeks.

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