Activity in the real estate market in Ukraine is reduced - the number of transactions is growing slowly, and demand is restrained by military risks and general uncertainty. Buyers choose the old housing in the secondary market, and new buildings lose popularity even in large cities.

This was stated by the Director of the Department of Financial Stability of the NBU (National Bank of Ukraine), Perthov, Dadashov at the presentation " According to her, the real estate market worsened in terms of sellers' activity, although the income of Ukrainians demonstrate growth, and a mortgage is formally available through the єosel program, transactions are becoming less. " The recovery factors that acted in the first year after a full -scale invasion are slowly exhausted, ”Dadashova said. At first glance, the situation should have been favorable for buyers - moderate prices, partial support of the state, the availability of lending. But the main problem is military uncertainty. Nobody wants to invest in housing when tomorrow can fly a rocket.

In addition, psychological barriers, such as fear for investment, lack of stability, lack of housing insurance from military risks, work. The NBU also cited a certain statistics:.

At the same time, the share of new buildings in the overall structure of transactions continues to decline - even in large cities where development is active. Another blow is infrastructure and legal problems. At the end of 2024, state registers were temporarily stopped due to cyber attacks, which made it difficult to register transactions. Although the systems resumed work, activity did not grow - trust was lost.

In parallel, the effect of the migration wave of 2022-2023 decreases. People have already settled where they could, and are not looking for new housing. The market has lost its main driver in recent years.

According to the NBU, without a significant reduction in military risks, improving the situation with safety or introducing effective mortgage insurance mechanisms, you should not expect a demand growth. All that can be seen now is local transactions, situational sales and careful activity.