From $100 and up. Rental prices in Kiev have fallen twice, but for how long?

"Obviously, the main reason for lower prices is the evacuation of the population from Kiev in connection with the beginning of the active phase of the war with Russia. According to Kyiv Mayor Vitali Klitschko, as of March 10, about half of Kyiv’s residents had left, many of whom had previously rented apartments. The outflow of residents from Kiev continued almost until mid-April — two weeks after the retreat of Russian troops, residents began to return to Kyiv. At the same time, mostly people who own real estate return. Against this background, many landlords have stopped receiving rent payments due to the loss of a significant percentage of the population and martial law, which is a force majeure. # Nbsp;
It is difficult to estimate the exact number of vacated apartments today, but given the size of the market as a whole, we can say that at least 7 thousand. apartments were vacated in the first weeks of the war. Demand for rent fell to a minimum in the first days, with refugees from the eastern regions preferring to find housing in the western regions if not to leave Ukraine. By the end of March, apartment prices fell significantly — more liquid apartments fell by 20−30%, less liquid lost up to half the cost. As the influx of residents back to the capital has accelerated, the market has stabilized somewhat, but demand is still insufficient to maintain price levels. Here we face a situation similar to the first days of quarantine in 2020 — even those residents who rented apartments and decided to stay in Kiev are looking for cheaper options, hoping to rent an apartment of similar quality for less money, or agree with the owners to reduce costs.
The Kiev rental market has always been sensitive to the impact of significant events — in 2014 and in 2020 and 2022 it reacted sharply to changes in the balance of demand due to the high economic mobility of the segment. Given the pre-war trend, we can expect a gradual recovery in prices, which will largely depend on starting a business in the city and in Ukraine as a whole. After the end of active hostilities, we can expect an increase in demand and, accordingly, prices due to the fact that many people who lost their jobs and / or housing due to the war will try to settle in a more economically developed Kiev. "

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