Prices on the primary real estate market in the Ukrainian capital have returned to pre-war levels.

In half a year, prices decreased by 4% compared to the beginning of the year to $1,955 per square meter, according to research from the City One Development company. During the first year of the war, the average price in Kyiv on the primary market increased by 4% due to rising prices and shortages of materials, increased risks, and increased costs of construction.

At the same time, the dollar exchange rate increased from UAH 27 to UAH 37 per $1, and developers increased their prices in dollar terms. However, in the first half of 2023, developers were forced to respond to a reduction in demand. The company’s analysts explain that the average price decreased by 4%, although the dollar exchange rate remained at the same level.

However, the decrease in the average market price was mainly due to declines in expensive segments. Premium class prices decreased by 10% and business class by 7%, but lesser priced properties rose by 2% due to higher demand.