how the rental market is recovering in Kyiv and the region


This summer, the number of vacant apartments in the capital and region exceeds the statistics of last year. Tenants are also responding more actively to housing rental advertisements than last year. OLX Real Estate analyzed how the long-term rental market is recovering in the Kyiv region and where it is now profitable to rent an apartment.

rent

There is still a large selection of apartments in the capital

Compared to last year, the choice of apartments for rent in Kyiv has more than doubled. If in July 2021 there were 21,677 offers to choose from, then in the same period of this year there were 51,974 apartments on the market. More options were offered last month in Pechersky (10,204 advertisements), Darnytskyi (7,030 advertisements) and Shevchenkovsky (6,151 advertisements) districts.

At the same time, demand among tenants has increased. Compared to May of this year, in July the number of calls and messages in response to housing rental advertisements in Kyiv increased by 33% and amounted to almost 112,000 responses. This is also 16% more than in July 2021.

In which areas of Kyiv were people most often interested in renting apartments in July (by the number of messages and calls in response to the advertisement)?

  1. Darnitsky – 18,653 responses;
  2. Dneprovsky – 13,583 responses;
  3. Goloseevsky – 13,381 responses;
  4. Shevchenkovsky – 11,300 responses;
  5. Solomensky – 11,188 responses.

Renting housing in Kyiv has become much more affordable

Compared to last year, the average rental price in Kyiv decreased by 38%. One-room apartments fell in price by more than UAH 2,500 (-33%), two-room apartments fell in price by almost UAH 4,000 (-37%), and three-room apartments by UAH 6,500 (-41%).

Budget housing can be found in Desnyansky, Svyatoshinsky, Dneprovsky, Obolonsky, Podolsky and Darnytsky districts. Thus, the average rental price for one-room apartments starts from 5,000 – 6,000 UAH/month. A two-room apartment in these parts of the city can be rented for 6,000 – 8,000 UAH/month. But three-room apartments cost on average 8,000 UAH/month in the Desnyansky district of the capital, about 10,000 UAH/month in Svyatoshinsky and 12,000 – 14,000 UAH/month in Darnitsky, Dneprovsky, Obolonsky and Podolsky districts.

How the average cost of renting one-room apartments changed in different areas of Kyiv















Price (UAH/month)

Area

July 2021

May 2022

July 2022

Desnyansky

7,000

5 500

5 200

Svyatoshinsky

7,999

6,000

6,000

Dneprovsky

9,000

6,970

7,000

Obolonsky

9 500

7,000

7,000

Podolsky

9,000

6,500

7,000

Darnitsky

11,000

8,000

8,000

Solomensky

10,000

7 500

8,000

Shevchenkovsky

11,500

8,000

8 500

Goloseevsky

11,999

9,000

9,000

Pechersky

18,998

12,500

14,000

OLX Real Estate Data

There are more available apartments in the region

The long-term rental market in the region is actively recovering. Thus, if we compare July and May, the number of offers increased by a third and amounted to 6,266 rental advertisements. And compared to July 2021, the choice of apartments has almost tripled.

The most options last month were in de-occupied Irpen – 2,569 apartments. There was also a considerable selection offered in Brovary – 1,378 offers. There are approximately the same number of vacant apartments in Boryspil and Bucha (979 and 919 advertisements, respectively). In these same cities, Ukrainians most actively responded to rental offers.

The most popular cities among tenants in July (by the number of messages and calls in response to an ad):

  1. Brovary – 4,487 responses;
  2. Irpen – 3,497 responses;
  3. Boryspil – 2,209 responses;
  4. Bucha – 1,364 responses;
  5. Vasilkov – 668 responses.

Rental costs in the Kyiv region decreased by a quarter

Compared to the same period last year, rental prices in the Kyiv region in July also decreased significantly. One-room apartments fell in price by UAH 1,400 (-28.5%), two-room apartments – by UAH 1,500 (-24%), and three-room apartments – by UAH 2,000 (-23%). But if we compare July and May of this year, prices have remained virtually unchanged.

Despite the significant destruction of individual cities in the region, the cost of rent, as in peacetime, was more influenced by the proximity to Kyiv, the size of the city and the development of infrastructure. For example, the lowest rental prices, as last year, are in the village of Borodyanka: on average 3,500 UAH/month for a one- or two-room apartment. In Boryspil, Bucha and Gostomel it was possible to rent a one-room apartment for 5,000 UAH/month. Rent in Irpen or Vasylkiv was a little less than 5,500 UAH/month, but the most expensive – about 6,000 UAH/month – was to rent housing in Brovary.

Two-room apartments in the Kyiv region were rented on average in the range of 5,500 – 8,000 UAH/month. But three-room apartments in July cost between 6,000 and 9,000 UAH/month. The most affordable prices for apartments are in Vasilkov, Boryspil and Bucha, and the highest prices for rent in July were in Irpen and Vorzel.





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