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most populated district, and highest in Pechersk district, according to OLX. Lviv has the second-highest rents among the top five cities. Common rental prices are UAH7,000 to UAH8,000 ($262 to $300) for one-room apartments, UAH8,000 to UAH10,000 ($300 to $375) for two-room apartments and UAH8,500 to UAH12,500 ($319 to $468) for three-room apartments. Lviv’s market is unique because there is a very small difference between rents in the city center and outlying areas, according to the report. Odesa tends to have the cheapest rents among cities with over 1mn residents, which also include Kyiv and Kharkiv, due to the declining number of tourists. Odesa’s rents range from UAH5,500 to UAH7,000 ($206 to $262) for one-room apartments, UAH6,000 to UAH8,500 ($225 to $319) for two-room apartments and UAH7,000 to UAH9,500 ($262 to $356) for three-room apartments. However, Odesa’s seaside properties are still costly. For example, in Primorsky district, typical rentals for one, two and three-room units are UAH8,500 ($319), UAH12,000 ($450) and UAH19,300 ($723), respectively.
Buying new apartments has become more expensive, especially in Kyiv.
A growing number of people want to invest in the capital’s real estate, while available property is limited. In response to the soaring demand, Kyiv’s apartment prices have surged by 23% in the last year, according to Lun.ua, an online marketplace for real estate. The average cost of a new apartment in Kyiv was $922 per square meter in 2020; now it’s $1,131. The Association of Real Estate Experts of Ukraine expects rents to increase by another 10-15% by the end of the year, if there are no new lockdowns.
New foreign investment in construction in Ukraine should add up to $2bn by 2025, Valeriy Kodetsky, president of City One Development, tells Interfax-Ukraine. “Powerful foreign investors” are interested in building new factories and production facilities, participating in large infrastructure projects, and building commercial and residential real estate projects, Kodetsky said, summarizing conversations he had last month in Monaco at the CC Forum Global Investment in Sustainable Development.
70 UKRAINE Country Report September 2021 www.intellinews.com