Kyiv Property Market Update – December 2019

Kyiv Real Estate Prices Continues Upward

This article will focus on the secondary market rather than the new construction projects which rely on a number of supply/demand factors that aren’t as indicative of the overall economic picture.

November 2019 brought another advance in property prices in Kyiv as the general economic situation continued to improve. On a per meter basis, in US Dollars, prices now are back to where they were in April of 2016 ($1411/m²). This marks the 15th consecutive month of higher prices.

City center has seen the highest growth over the past year now reaching an average cost of $2110/m².

Kyiv property market average price – November 2018-November 2019 in USD

INVENTORY

For November we again see that the real story is inventory which continues to evaporate, having been cut in half over the past 18 months and by -37% in just the past 12 months. The current inventory of 10538 units is the lowest within available records that date back to 2010. Just 16 months ago we are at 22,000.

When buying again picks up later in the year we could see the lack of available properties really begin to effect prices to the upside.

Previous month’s Kyiv Property market update can be found here