The real estate market is slowly recovering – demand is picking up, primarily in the secondary market. At the same time, the demand for rental properties has increased, and the volume of subsidized mortgages also increased significantly, according to the NBU’s report.
However, the primary market remains in a rather difficult state – demand is depressed, there is almost no investment demand, and the risks for the construction industry are quite significant, the National Bank noted.
Meanwhile, the construction company GEFEST set a record for constructing objects in Odesa during the war. In two years, the company commissioned six new residential complexes (160,000 sq. meters, 2,300 apartments). The developers are also working on building a Hilton hotel.
In turn, the DIM group of companies has built more than 45,000 square meters in 2023 and plans to commission approximately 100,000 square meters of real estate in 2024.