Dynamics of real estate prices: Leading regions in Ukraine

Between September 2022 and September 2023, the Ukrainian real estate market witnessed a difference in the growth of housing prices, which varied significantly across the country's regions. This difference in price dynamics is due to various factors, including the distance from the war zone. This article will look at the leaders of real estate price growth in different regions of Ukraine.

The first place in terms of the intensity of housing price growth is occupied by Ternopil region, where prices jumped by an impressive 55.6% during the year. Ivano-Frankivsk region is second in the list of price growth leaders, where prices rose by 42.2%. Other regions that have added to the price of primary real estate include Sumy region (up 26.5%), Zhytomyr region (up 23.9%) and Cherkasy region (up 23.3%).

However, not all regions show similar trends. In Kharkiv region and Zaporizhzhia region, housing prices fell by 19.2% and 6.3%, respectively. This dynamic is related to their location closer to the front line and constant rocket attacks by the enemy. As a result, there is less demand for housing in the regions, which leads to lower prices.

The dynamics of housing prices in Ukraine indicate important factors that affect regional real estate markets. However, there are other factors that influence prices besides the distance from the conflict zone. For example, infrastructure projects and the development of industries such as education and industry can be catalysts for price growth.

It is important to note that regional differences in price dynamics may also be related to changes in local economies and depend on the volume of new real estate construction. Changes in the social and economic environment play an important role in shaping market trends in different regions of Ukraine.

Despite regional variations, the overall condition of the real estate market in Ukraine shows a gradual recovery from difficult periods. The potential for real estate investment exists in all regions and it is important to be aware of the specific market conditions and prospects in the selected region in order to make informed decisions regarding residential investment.