The number of vacant apartments in Kyiv has decreased by almost a quarter


Over the past six months, more Ukrainians began to rent out their homes, and 62% of owners were the first to make concessions to their tenants. Most often they gave a discount on rent. However, already at the end of summer, prices for rented apartments began to rise, and supply began to rapidly decrease. OLX Real Estate analyzed the current situation in the rental market and asked about the mood of landlords since the beginning of a full-scale war.

The number of available housing in big cities is decreasing

The second wave of internal migration has begun in Ukraine. If in the spring Ukrainians were looking for cheaper housing and often chose suburban real estate for the summer, now the priority is apartments in big cities. Thus, in four million-plus cities in the first week of September, the number of offers decreased from 10% in Lviv to 23% in Kyiv.

How has supply changed on the long-term apartment rental market?

according to OLX Real Estate








City

Number of advertisements for the first week of August

Number of advertisements for the first week of September

Difference in number of ads

Kyiv

26,658

20,569

-23%

Odessa

12 490

10,236

-18%

Lviv

5 359

4,836

-10%

Dnieper

3,886

3 278

-16%

In the western regions, the situation is somewhat different: out of 7 cities, only three have had a noticeable decrease in apartments from landlords:

  • 24% fewer advertisements in Ivano-Frankivsk. People come to the city from all over the country, and many apartments are rented out at very reasonable prices;
  • by 31% and 35%, respectively, in Rivne and Lutsk. Most likely, due to the risk of invasion from Belarus and the lack of excitement among Ukrainians, landlords themselves began to offer fewer apartments.

Will prices rise?

More than half of all offers on the rental housing market are represented by one-room apartments. According to OLX Real Estate, in September, among cities with a population of over a million, the most budget options can be found in Odessa for 5,500 UAH/month. In the western regions, affordable prices in Lutsk and Rivne – on average 7,500 UAH/month. The most expensive would be renting a one-room apartment for 16.5 thousand hryvnia in Uzhgorod. The last two months of summer and the beginning of autumn, it is this city that has the highest price tag, “pushing” even Lviv.

Due to the return of Ukrainians home, internal migration and active movement to big cities, a jump in prices can be expected in the fall. In particular, this applies to some million-plus cities. Thus, according to the platform, in Odessa and Dnipro, the rent of a one-room apartment during the first week of September has already increased by 600 hryvnia compared to the first week of August. In the capital, the price tag increased by 1,000 UAH, and in Lviv – by 1,600 UAH.

What are landlords saying?

According to a survey on OLX Real Estate, the majority of landlords (83%) plan to continue renting out their homes. More than 17% of owners started doing this after February 24th. In general, 62% of apartment owners were the first to make concessions because of the war, 21% of respondents did this at the request of their tenants. More often, owners gave a discount on rent. 58% of landlords indicated that they reduced the price in the range of 20-50%. Some respondents noted that in the first months they only asked to pay utility bills, and then reduced the cost of rent.

Only 85% of landlords are satisfied with the cooperation with their tenants. The most positive influences were:

  • timely and conscientious payment for rent and utilities (66% of votes);
  • ease of communication and quick resolution of any issues (59%);
  • careful attitude towards the apartment and property (58%).

The number of vacant apartments in Kyiv has decreased by almost a quarter

OLX Online Survey Data

Sample: Target audience of the OLX Real Estate category

Main sample, N=530

August 2022





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