House prices in Kiev were up 1.89% during the year to Q3 2020
Secondary market apartment prices in Kiev rose by 1.89% (inflation-adjusted) during the year to Q3 2020 with an average price of US$ 1,052 per square metre (sq. m.). It was in sharp contrast to the y-o-y fall of 5.88% seen in Q3 2019. It was the second consecutive quarter that house prices did not fall in almost 7 years.
Real house prices increased slightly by 0.51% q-o-q in Q3 2020, its third best q-o-q showing since Q1 2013 after registering quarterly growth of 0.93% in Q2 and 1.25% in Q1.
House prices have been falling in the past six years, particularly in 2014 because of hryvnia devaluation due to the Russian war. Currently, house prices are 76% (inflation-adjusted) below their Q3 2008 peak of US$3,627 per sq. m, according to S&V Development.
Rents, rental yields: yields are high in Kiev at 9.09%
Kiev apartment costs are around €2,807 per sq. m.
| Ukraine: typical city centre apartment buying price, monthly rent (120 sq. m) | |||
| Buying price | Rate per month | Yield | |
| Kiev | $336,805 | $2,550 | 9.09% |
Recent news. Ukraine's economy shrank by 3.5% in Q3 2020 from a year earlier, following declines of 11.4% in Q2 and 1.3% in Q1, mainly due to the fallout from the coronavirus outbreak. On a seasonally adjusted quarterly basis, GDP expanded by a record 8.5% in Q3 2020, after contracting a record 9.9% in Q2. The National Bank of Ukraine expects the economy to shrink by 6% this year but the government maintains its more optimistic projection of a 4.8% fall.
