What is happening in the Ukrainian real estate market in 2025, and what prospects will emerge after the war?

The Ukrainian real estate market is currently showing signs of stabilization and gradual recovery. In the primary market, prices continue to rise, driven not only by demand but also by an increase in building material costs due to the devaluation of the hryvnia, logistical complexities, and a labor shortage resulting from emigration and mobilization within the country. The trends observed in the primary market in 2024, such as rising housing costs in cities, a slight decline in demand (approximately up to 5%), and an increase in supply, are expected to continue into 2025.

Meanwhile, stable demand persists in the secondary market, partially supported by the eOselya preferential mortgage program.

As for market prospects after the war ends, experts advise that one should not anticipate a sudden surge in demand. The main influences on the market will be the budget’s redistribution, with a decrease in military spending and an increase in social spending, which will exert inflationary pressure and reduce consumer’s purchasing power. Additionally, foreign investment will primarily focus on specific projects in key cities, resulting in limited overall market impact due to labor challenges and inflationary risks.