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.