MARKET REPORTS

2020 RESULTS. Primary Residential Real Estate Market. Kyiv.

2020
2020 has become a year of trials for the Kyiv primary residential real estate market. The resonant exit from the market of two of the largest developers, the reform of the State Architectural and Construction Inspectorate, COVID-19 and related quarantine measures, the devaluation of the hryvnia and a significant deterioration in the economic situation have created a rather difficult market situation.
The replenishment of the market with new projects has slowed down significantly, the volume of commissioning has fallen by 41%, and the market is filled with supply in already built houses by 40%, which is the highest figure in 7 years of observation.
Changes also affected the structure of supply - comfort-class residential complexes dominate the market. The bulk of demand is concentrated in this segment. The increase in investment demand for business-class housing also led to an increase in the share of complexes of this class in the supply structure.
But, like any crisis, this one provoked an acceleration of changes in the approach to the market and interaction with the client. Active digitalization, optimization of marketing budgets and emphasis on performance marketing, adjustment of the pricing policy made it possible not only to maintain the level of sales in 2020, but also significantly exceed last year's figures.

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