The real estate market in Ukraine is experiencing a unique period where demand and supply are balanced between military risks and active construction. While in 2024 housing prices remained relatively affordable, in 2025 the situation changes – the cost per square meter gradually increases.
Construction gains momentum
Despite challenging conditions, the construction industry shows positive dynamics. In 2024, 6.73 million m² of housing were put into operation – 23.5% more than in 2023. The highest growth is observed in the capital and western regions, where people migrate in search of a safe life.
Kyiv remains the main center of development, but the most popular cities for buying housing are Uzhhorod and Zakarpattia. Proximity to the border and relatively safe location make these regions attractive for both investors and migrants.
Why is housing becoming more expensive?
There are several main factors affecting price growth:
✅ Increasing construction costs – rising costs of materials, energy, and logistics.
✅ Labor shortage – mobilization and emigration significantly reduced the number of builders.
✅ Demand for safe housing – people choose apartments in western regions and cities with developed infrastructure.
✅ Investment attractiveness – real estate remains one of the few ways to preserve money in times of inflation.
In regions with ongoing hostilities, the situation is drastically different: construction is practically halted, and property prices remain low.
Commercial real estate: What to expect in 2025?
The commercial real estate market is also undergoing transformations. Due to business relocations, there is a new demand for office spaces and retail areas.
What will change?
🔹 Rents for commercial premises will increase due to high demand and rising maintenance costs.
🔹 On the contrary, the cost of office spaces is decreasing as more companies are working remotely or in a hybrid format.
🔹 The opening of new shopping and entertainment centers is expected, especially in relatively calm regions.
What’s Next?
If the situation in the country stabilizes, the demand for real estate in Kyiv, Kharkiv, and Odessa will increase. At the same time, the housing market in conflict zones will remain stagnant.
The real estate market in Ukraine will continue to evolve in 2025, and its development directly depends on the country’s security and economic situation.
