Last year, Ukraine’s construction volume increased by 22.6%.

According to 2023’s results, the volume of construction works in Ukraine increased by 22.6% in real terms, according to data from the State Statistics Service. The greatest growth was recorded in infrastructure construction (power grid, transport facilities, etc.). Its volume increased by 32.9%.

Non-residential construction (office real estate, retail establishments, hotels, etc.) grew by 20% last year. On the contrary, residential construction decreased by 4.6%, and the trend is downward: In the last month of the year, the decline in this sub-sector was 13.3% in annual terms. Despite significant growth in 2023, construction volume will still be only 43% of the pre-war level (the decline in 2022 was 65%).

Despite the war, Ukraine’s residential real estate market continues to work, but the market’s geography has changed. In 2021, most apartments were built in Kyiv and the region, as well as the Odesa, L’viv, and Kharkiv regions. According to the results of 2023, the five leaders are as follows: Kyiv, Kyiv region, Vinnytsia, Lviv, and Ivano-Frankivsk regions.