which regions of Ukraine are currently the most profitable to rent housing — UNIAN

which regions of Ukraine are currently the most profitable to rent housing — UNIAN

Thanks to the successes of the Armed Forces of Ukraine, the price bottom in the housing rental market in the central regions of Ukraine seems to have come to an end, while prices for apartments in the west have begun to decline little by little. UNIAN found out how much it is possible to rent an apartment in different regions of the country today.

The occupation of part of the territory of our country by Putin’s invaders and the constant threat of shelling of peaceful cities and villages of Ukraine force our citizens to leave their native lands and leave in search of relative peace.

As of mid-autumn, according to the Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine, more than 7 million Ukrainians have become internally displaced persons (IDPs). More than a million of them are children.

At the beginning of the full-scale war, the Ukrainian rental housing market almost choked due to the mass migration of citizens from the frontline and central regions to the west of the country. Due to excessive demand, in particular in Lviv, prices for renting housing in some places reached 800-900 dollars per month, while before the war similar apartments could be rented for 500-600 dollars. There were also absurd and unsubstantiated cases of several-fold increase in prices for very old and absolutely uncomfortable housing.

“In the first week of the war, my family and I left Kyiv for the West in search of a more or less quiet place. We wanted to stay in Ivano-Frankivsk, but finding housing there was practically impossible or too expensive. We were lucky to move into my friend’s house under city, she was going abroad at that time,” Yulia, a Kyiv resident, told the UNIAN correspondent.

And such cases happened everywhere. Those who could find more or less acceptable housing through relatives or acquaintances were lucky, while others were forced to rent old apartments for exorbitant costs or migrate further to Europe.

However, since April, the migration tsunami in the direction of the western regions of Ukraine has started to decline, and along with it, the rental prices. At the same time, the demand for housing in the central regions began to grow.

UNIAN found out how rental prices changed in different regions of our country, how much housing can be rented for today, and what this market expects in the near future.

Since February, the rental housing market has divided into four groups / photo UNIAN, Oleksandr Davydov

Military trends

With the beginning of the full-scale offensive of the Russian invaders, the Ukrainian rental housing market was divided into four groups. The first is the temporarily occupied territories. The second – regions close to the zone of military operations. The third, in turn, is the rear regions, in which there is a high threat of missile fire, but fire from artillery systems is impossible. And the last group is the safest, as far as possible in the current conditions, the western regions.

In each of the above groups, specific trends were observed.

It is clear that there is no need to talk about any development of the rental market in the temporarily occupied territories, so we will simply omit this group.

As for the front-line zones, in particular Zaporizhzhya, Donetsk, and Kharkiv regions, at the beginning of the full-scale war, they mainly served as a kind of transshipment point for migrants from temporarily occupied territories. Later, people settled there who, having left uncontrolled territories, were not ready to travel even further from home. There was no significant activity of the rental market in these territories, and housing prices experienced a steep peak. This trend continues to this day.

“Rental prices there are approximately 50% of the pre-war level,” says Eduard Brazas, head of the Committee on Information Systems and Analytics of the Association of Real Estate Specialists of Ukraine.

The rear regions, in particular Kyiv, are currently one of the most convenient places to rent housing in terms of price and safety. With the beginning of a full-scale invasion, when the majority of citizens preferred to live in the west of the country, housing rental prices in the rear areas, similar to those near the front, decreased in some places by 50%, but as the invaders pushed further east, they began to level off in the direction of growth.

Kyiv is currently one of the most convenient places to rent a home in terms of price and safety / photo UNIAN Kyiv is currently one of the most convenient places to rent a home in terms of price and safety / photo UNIAN

At the same time, western Ukraine, which at the beginning of the full-scale war received far more refugees than it could swallow, is now recovering from the influx of people. Many Ukrainians returned to their native homes if possible or migrated further to Europe. And now you will rarely find such a cosmic cost of renting an apartment there, as in the first months of the war, however, the market median is still significantly higher than the pre-war level.

With the beginning of a full-scale war in the Ukrainian rental market, the criteria by which tenants choose housing, and landlords – rent, have changed.

“Not only comfort, design and the view from the window are of interest to the tenant, but also safety: the presence of underground parking lots or shelters, which should be suitable to play the role of a bomb shelter during air raids; a floor, an area that is less exposed to shelling,” – notes the partner of the law firm Winner Ihor Yasko.

At the same time, for landlords, the issue of the lease term comes to the fore.

“Tenants are not sure about the future, and that is why they are looking for housing for short-term rent. And landlords, on the contrary, want to rent housing for a longer period. And this introduces a certain imbalance, and we have to find a compromise,” the specialist said in a comment to UNIAN Brazas.

Experts note that after the decrease in the intensity of internal migration of Ukrainians, the housing rental market has somewhat stabilized, and there are currently no significant spikes in demand in any of the regions of Ukraine.

“Sometimes, when it arrives, for example, in Zaporizhzhia, a few people from there move to calmer regions. But compared to what happened in February, March and even April, it is very little,” explains Brazas.

When a terrorist attack does not occur on a single region, but on the entire country – for example, during massive rocket attacks – the housing rental market freezes for a week or two, the number of requests for apartments temporarily decreases, and then everything starts working again.

Sometimes a few people move from Zaporizhzhia to quieter regions / Photo by Maryna Grigorenko Sometimes a few people move from Zaporizhzhia to quieter regions / Photo by Maryna Grigorenko

The cost of rented accommodation

So how much can you rent housing in different cities of Ukraine today?

As real estate expert Iryna Lukhanina told UNIAN, after the deoccupation of the Kyiv region, apartments of the old housing stock in remote areas of the capital could be rented for 3 to 5 thousand hryvnias per month.

“If you take apartments closer to the center, you can rent a one-room apartment for 5.5 thousand, and a two-room apartment for 7 thousand. And in the city center, two- and three-room apartments cost from 10 to 12 thousand per month. Such prices were maintained until mid-August.” , – she added.

In autumn, the situation began to change, and today the cost of renting inexpensive housing is gradually returning to the pre-war level.

“Inexpensive housing has already reached the prices in hryvnias that were as of February. As for the more expensive segment, there is even a 2-3 times drop in its value, because there are almost no customers,” reports the head of the committee on information systems and analysts of the Brazas Association of Real Estate Specialists.

According to analysts of the Vird apartment search application, as of mid-October, the median rental price for a single apartment in Kyiv was 10,000 hryvnias per month, for a two-room apartment – 16,000, and for a three-room apartment – 25,000. Shortly before February 24, the cost of such housing was 13 thousand hryvnias per month, 21 thousand 600 hryvnias and 46 thousand 100 hryvnias, respectively.

The cost of renting inexpensive housing is returning to the pre-war level / photo ua.depositphotos.com The cost of renting inexpensive housing is returning to the pre-war level / photo ua.depositphotos.com

While in Kyiv, there is a trend towards an increase in demand and an increase in the price of housing in the middle segment, the demand for apartments in the cities of western Ukraine is becoming a little less exciting, but still remains high.

“On average, you will have to pay 14.4 thousand hryvnias to rent a one-room apartment in Lviv. But housing in Transcarpathia is in the greatest demand. Renting a one-room apartment in Uzhhorod will cost an average of 16.5 thousand hryvnias,” – reports economic expert Oleksandr Khmelevskyi.

Housing in Dnipro is in quite high demand today, as many residents of the East and South have moved there. Therefore, the rental price there is only slightly lower than in Kyiv.

At the same time, in Odesa, the demand for rented accommodation has significantly decreased, and accordingly, prices have also decreased. Therefore, the average rent for a one-room apartment in Odessa is only 5.5 thousand hryvnias.

Experts predict that in the near future significant swings in the market of rented housing in Ukraine are not expected. Provided that the situation in the country will not radically change, apartment prices will not increase significantly, but they will not decrease either. This is evidenced, in particular, by the response of the rental market to the recent enemy shelling of Kyiv: the terrorist attacks of the Rashists in the first half of October have not yet led to a noticeable reduction in prices.

In Odesa, the demand for rented accommodation has significantly decreased / photo UNIAN, Oleksandr Gimanov In Odesa, the demand for rented accommodation has significantly decreased / photo UNIAN, Oleksandr Gimanov

However, the further development of the situation will largely depend on the events at the front and the behavior of the aggressor country. If terrorist attacks by Russians will lead to a mass exodus of residents of certain cities, and the demand for housing will be significantly reduced, this, in turn, will affect prices. In addition, potential problems with heat and electricity supply may also affect the attractiveness and, as a result, the cost of housing in certain districts, cities, or even entire regions of Ukraine in the future.

However, these are force majeure factors, which are impossible to predict with certainty, as well as to make forecasts taking them into account.

Tips for tenants

Despite the war, there are still enough unscrupulous swindlers in the country who are ready to extort the last money from their victims. Therefore, lawyers urge tenants to be vigilant when looking for and directly renting an apartment.

Lawyer Yasko advises to be careful with “housing reservation” offers, when it is alleged that the owners of the accommodation ask potential tenants to transfer a certain amount in advance in order to gain an advantage over other applicants. He also calls for demanding the signing of the lease agreement and discussing its terms in detail.

“Study in detail the title documents for the real estate object, personal documents of the home owner, and also make a copy for yourself. It is important to pay attention to who pays for repairs or replacement in case of property malfunction, so that there are no surprises,” he emphasized.

In turn, Hryhoriy Trypulskyi, a lawyer and managing partner of the De-jure law firm, noted in a comment to UNIAN that first of all, one should carefully examine the premises and take photos of all the things and damages in it. Otherwise, upon termination of the contract, the lessor may demand compensation for damage caused before your move-in.

“You should also transfer the money directly to the landlord or a person who has a power of attorney. But not to the account of third parties. And if the money is transferred in cash, then take a receipt,” he added.

Lawyers urge tenants to be vigilant / photo ua.depositphotos.com Lawyers urge tenants to be vigilant / photo ua.depositphotos.com

…After the upheavals of the first months of the war, home owners and realtors finally got used to the new conditions and are trying to flexibly adapt to them. Therefore, tenants now have more chances to find optimal housing: both in terms of quality and price – in the city that they consider the most comfortable and safe. But still, one would like to hope that all forced migrants who are now getting used to new living conditions will be able to return to their native homes as soon as possible, and the rental market will work on the usual and predictable market conditions – as befits a peaceful country.

Alyona Kyrychenko

Fuente: espreso.tv

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