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agricultural sector. Pritzker also met with President Zelenskyy and his team to discuss Ukraine's macro-financial stability in 2024 and the use of frozen Russian assets as "an essential source of funds for the reconstruction of Ukraine". On October 16, the US Special Representative also met with representatives of the National Anti-Corruption Bureau, the Specialized Anti-Corruption Prosecutor's Office, and the American Chamber of Commerce.
9.1.4 Construction & Real estate sector news
In half a year, the volume of completed construction works in Ukraine grew by 18.4% to ₴53.2B. The driver of the construction sector's growth in the first half of the year was engineering structures, where the increase in construction was 34% in annual terms, and non-residential construction, which grew by 9.5%. At the same time, housing construction decreased by 5.9%. The resumption of construction began in March. This month, the volume of construction work increased immediately by 133.1% compared to the same month in 2022. However, further growth slowed: April - 90.6%, May - 62.4%, June - 38.6%. The growth of engineering construction is associated with the restoration of transport and industrial facilities destroyed by hostilities and other types of infrastructure. The highest growth rates of construction compared to the first half of 2022 were observed among the following infrastructure objects:
● roads and streets 126.6%
● mining and extractive enterprises 113.3%
● trunk pipelines, communications, and power lines 52.5% ● local pipelines and communications 38.1%
● construction of energy enterprises 33.1%
Ukraine's real estate market shows signs of recovery, and the number of deals increased by 30%. The residential real estate market is adapting to wartime conditions, and transactions have increased by a third over the year, the Association of Residential Real Estate Developers RED Community reported. The DODOMU mortgage agency noted that the market shows signs of recovery after the number of real estate transactions fell by 75%, from 915,200 in 2021 to 224,200 in 2022. According to general statistics, the number of contracts increased by approximately 30% this year. Moreover, almost 295,000 contracts are expected in Ukraine by the end of the year. However, the secondary market prevails over the primary one: builders compete not among themselves but for buyers in the secondary market. Therefore, according to the DODOMU study, the average cost of housing in Kyiv on the secondary market has increased by 30% over the year and is $1,100 per square meter. The newly constructed apartment prices practically did not change and are currently at $1,232 per square meter.
Here is how the Ukraine real estate market has changed after 1.5 years of war. As for housing rent, at the end of September, the number of vacant properties continued to decrease. Since the beginning of the year, the number of advertisements in the Kyiv region has fallen by 47%. In Sumy - by 97%, and in Chernihiv - by 60%. The average price of renting a one-room apartment in the capital is ₴21,167 ($580), and in the region is ₴8,886 ($245). Compared to September 2022, the price of housing in Kyiv has increased by 29%. The
81 UKRAINE Country Report November 2023 www.intellinews.com