No alternative upwards: the cost of renting Kyiv apartments will traditionally “cheer up” in the fall, and in winter it will approach the do-force majeure bar, however, only in hryvnia terms. Alas, the "

Better than yesterday, but worse than usual.

By the end of July, capital prices for renting apartments have grown from almost zero level - “for a communal apartment” - to a level that is two-thirds of the previous price in hryvnias. And if you count in foreign currency, then the cost of rent has significantly decreased from the pre-war price.

Finally, the Kyiv market for renting apartments is slowly returning to equilibrium, according to which the market determines the price. A few months ago, the law of supply and demand did not work in the market, since the price of the options offered had almost no meaning..

So, in Kyiv, there was no demand, as well as new contracts, at all, except for the demand for the extension of existing lease agreements either for 30–50% of the previous price tag, or “for a communal apartment”. By the way, the remnants of such agreements, when tenants live only paying off the payment for " Many of the owners are absent from the country and they feel comfortable when someone (even for free) lives and at the same time performs the function of a guard of apartment property.

However, starting from April, both property owners and tenants (who did not leave the country) began to return to the cities. And the market immediately reacted.

At first, housing was rented / rented at half price. By the end of July, hryvnia prices went up quite briskly, and now, on the whole, they have pulled up to two-thirds of the pre-war bar.

At the same time, a characteristic feature is noticeable: expensive apartments and houses often lost significantly more from the January price than their more modest competitors.. No wonder, because the time is such that even wealthy clients do not scatter money. Moreover, the prices for housing, which we call “premium class” (although it often is not) are still trying to be fixed in foreign currency.

For example, an apartment in Kyiv, previously rented for $ 1,500. /month, now unsuccessfully trying to compete in the market with numerous " UAH.

Stylish cozy modern two-room " m, which was easily rented earlier for 12-13 thousand. UAH. (just under $500. ), now rented for a maximum of 8-10 thousand. hryvnia (slightly more than 200 dollars.

Kyiv is literally " 4500–5500 UAH per month.

Although many of the " But at such a price, it was previously possible to take only some suspicious housing stock in the basement. As for the rooms, the price range for them now generally starts from 2700 UAH.

And a “kopeck piece” in “grandmother’s” condition (clean and well-groomed) can be rented right now in an excellent Kiev district, immersed in the greenery of Rusanivka, for 6500 UAH. The real cost of such a “kopeck piece” for sale will be, according to market experts, no more than 50 thousand. Doll.

Comes out to about $170. /month for a " Doll. , and their rent cost exactly a hundred more - $ 270. And the payback of such a two-room apartment at that time averaged 6-7 years. Now the payback period for residential facilities has increased to 25-35 years.

Lviv: the crown fell off homeowners.

Unfortunately, a significant number of owners of Lviv real estate were not heavily burdened with morals in the most difficult first months of the war.. Ordinary, even non-central apartments for rent in new buildings were advertised (and rented out, there were still not enough of them) for amounts close to 100 thousand. UAH per month (more than 3 thousand. euro at the time). This situation developed during the arrival of temporary migrants from Kyiv.

Then " Prices dropped a little, but still remained high.. Back in April, a good 145-meter apartment in a new building close to the center was rented out together with scarce parking spaces for $1,500–$2,000.. Now on it and for 1 thousand. Doll. you will not find a client "

Now the wave of migrants in Lviv has subsided, and those who remained settled in acceptable objects. At the same time, if there are cases when cheap housing is rented out even at January prices, then there is practically no demand for apartments more expensive.

A large new residential complex, located in the central area, not far from the circus and the railway station, offers, for example, 85-meter turnkey kopeck piece with good equipment. Now they are asking for (and unsuccessfully) $ 550. /month. Although just a month ago, such apartments rented for $ 800. , and in the "

Today it is easier to find a "

We state a fact: in the secondary market, the price tags for the sale of apartments in Kyiv slightly decreased in foreign currency, and in new buildings, the cost of a “square” showed an increase in hryvnia. Real prices can only be observed in the case of urgent sales, or when the seller agrees to a significant concession..

The main thing is that the market has finally moved from the " After all, in the first months after the start of the war, even after the opening of the register, realtors frankly refused to take anything " options that were popular in the old days, offering to give them away almost “for thanks”.

In the relatively "

Not surprisingly, demand is not very active..

A similar situation in the secondary market. A small Lviv-based agency that used to easily conduct 5-10 deals per month has not made a single deal for the fifth month. And calls and views (as an indicator of market sentiment) only slightly pleased us in the last month.

Apartments "

True, the owners will begin to suspect this, as always, with a certain time lag, which traditionally can last a couple of years.. At the same time, the influx of new apartments for sale will only increase..

Who will yield to whom: rent or sale.

Of course, the real estate market sooner or later gets used to any situation.. And if the payback period of objects on the market is already measured in three decades, then something must happen: either the cost of rent will increase, or sales prices will decrease..

What with a significant degree of probability can be argued about the prospects for the sales market?

It’s definitely not worth expecting prices per square meter even at the level of the beginning of the “zero” (although some of the potential buyers dream of the 90s), because even in Afghan Kabul, apartments, for example, of the “Czech” type, usually cost tens of thousands of dollars, and their.

A full-scale collapse in housing prices is possible only in the event of a catastrophic devaluation of the national currency. However, there are no signs of such a scenario yet, despite the fact that at the moment the hryvnia has already lost more than a quarter of its weight and continues to “look” down.. The most likely scenario for the behavior of the apartment sales market is slow growth in hryvnia terms and the same unhurried price correction in foreign currency.

The moment when prices for primary and secondary housing, having reached the bottom, will move in the opposite direction, will begin as soon as the economic recovery mechanisms start to work. However, the peak buying/selling prices per square meter of the autumn 2021 sample will not return for many years.

Expectations in the rental market.

The vast majority of transactions in the capital's rental market are now made with a term " In any case, homeowners are determined to increase the cost of rent in hryvnia, because real estate rent is the only thing that has not risen in price, but, on the contrary, has fallen in price in a long list of goods and services.

Most likely, by winter, prices on the rental market will catch up to doforce majeure, but in hryvnia. And the next market revival starts traditionally in September. One of the main indicators of market recovery will be the return of foreigners to the country and, accordingly, to the rental market. The mediators are already reporting the first positive signals in this direction..

Almost zero investment demand for the purchase of apartments and a very limited number of potential customers who want to buy property for family members will contribute to the trend of accelerated growth in prices in the rental market. After all, even if there is money, but there is no desire to spend it, you still need to live somewhere.

Read more articles by Vadim Bashnya and Sergey Sledya at the link.

[votes id\u003d"