Kyiv is the only city where the demand for retail space has significantly increased.

According to industry experts, prices for retail real estate have begun to rise across Ukraine. The primary trend as of March 2025 shows a price increase and a decline in supply. In terms of demand, most cities experienced a decline, with the capital seeing the only increase over the year.

Kyiv is anticipated to lead in the median purchase price of retail space at ₴8.3M (+14% by March 2024). Prices in other cities with populations over one million also predominantly went up in the first quarter of 2025: Dnipro: +29%, Lviv: +12%, Odesa: +9%. Conversely, in front-line Kharkiv, prices dropped by 4%.

Kyiv remains the only major city where demand for retail space has seen a notable increase (31%) as of March. Other major cities have witnessed a decline in both supply and demand for retail space. This is particularly evident in Dnipro, with supply is down by 33% and demand down by 43%. In Lviv, decreases were 37% and 26% respectively; in Odesa, supply fell by 22%, while demand increased by 4% compared to 2024’s level.