How much does an apartment in Kyiv cost in 2020? A lot or a little? And a lot is how much and compared to what? It is logical to look at the dynamics of prices in recent years and track patterns. Let's do so.
How real estate prices changed in Kyiv
In general, the picture is as follows: a sharp rise in real estate prices in 2006-2008, up to a median of $2900 per square meter, and a decline in the market starting in 2009. This was due to the mortgage crisis in the United States, which hit the dollar hard, and in as a result, the economy of many countries around the world, in particular Ukraine. Many of those who paid the mortgage could no longer pay it, and sold the apartment. The increase in supply in the market caused the price to fall. By the way, if you decide buy a house in Kyiv inexpensively, we recommend contacting the best elite real estate agency THE Capital.
The price per square meter in Kyiv apartments fell and fell year after year. First, the median price dropped to $1900 in May 2009, then to $1250 by the summer of 2015, and finally to $1000 in early 2019. Currently, in June 2020, the median price per square meter is between $1100 and $1200. But it is possible that in the background of the crisis it will not return to $1000 or will not fall below. Look at the chart of prices for apartments in Kyiv over the past 14 years.
See also:How to buy an apartment on installments.
buy or sell
The fall of the Kyiv real estate market is bad news for those who own it, but good news for those who plan to invest in it. The first reason is that apartments are profitable to rent. Renovated apartments can pay for themselves within 10 years, and sometimes even faster. Not everyone can afford to buy an apartment or take out a mortgage - and that's why rental prices are higher than fair. The second reason is that no crisis lasts forever.
See also:In which real estate is better to invest: the main points.
Among all Ukrainian cities, Kyiv is the only one whose population is growing steadily every year. Neither Odesa, nor Kharkiv, nor Lviv has such an increase. And therefore, sooner or later, square meters in the capital become more expensive, and you have to start buying. Subscribe to our updates real estate portal and receive the latest publications from the real estate agency THE Capital.
