Ukrainian real estate market trends: Rental rates for warehouse space and the indirect costs of housing construction are rising.

According to CBRE Ukraine, the base rental rate for warehouse properties in Kyiv averages $5 per square meter and is likely to increase due to a shortage of available premises. However, prices in Kyiv across the  entire Ukrainian market remain relatively moderate compared to cities like Lviv. Currently, warehouses in Lviv can be rented for $6-6.5 per square meter. Before the full-scale Russian invasion, rental rates were higher, reaching close to $10 for Class C warehouses.

Forecasts indicate that rental prices in Kyiv and Lviv are unlikely to decrease soon, driven by space shortages and rising construction costs. Meanwhile, the Ministry of Development reports that the indirect cost of housing construction in Ukraine in the second quarter of 2025 increased by 2.8% from the previous quarter and by 14.3% year-over-year, reaching ₴25,300 ($575) per square meter as of July 1.

The cost to build one square meter of housing in Kyiv has risen to ₴29,600 ($705); in the Kyiv region, ₴25,300 ($605); in the Lviv region, ₴25,200 ($603); in the Odesa region, ₴24,300 ($580); in the Dnipropetrovsk region, ₴24,600; and in the Kharkiv region, ₴26,600.