Development of recreational real estate in the Kyiv region is being shaped by "security belts," according to an analytical report by ArtBuild Hospitality (ABH).
"Within a 100-kilometer radius of Kyiv, a distinct resort segment has already taken clear shape, with its own geography, unique formats, pricing and specific demand patterns. Its further development is being shaped not only by traditional factors (water, forest, transport accessibility) but also by a specific one: security distance from Kyiv," said ArtBuild Hospitality managing partner Oleksiy Yevchenko.
In his view, the security factor is key for future projects: it creates its own logic, layered on top of market logic, for distributing investment appeal across three belts.
The suburban zone (belt 0-15 km), closest to Kyiv, is also the riskiest: the area is regularly affected by air raid alerts and shelling. "This doesn't mean properties here don't function, but the operator is forced to build in constant operational risk and additional spending on shelters and guest safety into the business model," the expert explained.
The 25-50 km belt (the "overnight stay" buffer zone) is a place Kyiv residents head to primarily not for recreation but for relative calm, to wait out a few days during intense shelling of the capital. Demand here is stable and even grows during periods of escalation. But it's also this belt where the bulk of existing market players are concentrated (the Vyshhorod and Obukhiv directions), meaning there is objectively less available land for new development, and competition for it is higher.
The 50-80+ km belt offers the best balance of safety for recreation and development opportunities: security risk here is significantly lower than in the closer belts, while there is much more available, still-undeveloped land. Experts consider this belt the most promising for new development projects even during wartime.
"The security logic directly strengthens the case for developing less obvious directions, such as the Zhytomyr direction and the deeper southern cluster along the Ros River - both lie precisely within the safest 50-100 km belt. In other words, what previously looked like a purely market-driven shortfall (limited development due to weaker natural resources or worse logistics) has taken on additional investment weight during the war. These directions are objectively safer for long-term capital investment, which is exactly the factor missing in the 25-50 km belt, despite its higher short-term demand," he said.
The analysis of Kyiv's recreational belt covered 30 recreational projects across three categories: upper upscale, upscale and midscale. The economy segment is absent from this sample, since all the properties analyzed have a notable service and recreational component that goes beyond basic accommodation. The combined room stock of the analyzed projects totals approximately 1,500 units: about 1,000 are classic units, and 500-550 are houses, according to the report.
Five properties represent the upper upscale category: premium complexes with the highest service standards, signature dining and expanded, sometimes niche, infrastructure (Equides Club 5*, Riviera Zoloche, WISH Aqua & Spa Resort, Selfish Club, City Holiday Resort & SPA). Upscale, with 10 properties, represents the "gold standard" of recreation: hotel rooms plus cottages plus spa centers (Shelest, Sobi Club, Koncha Zaspa Park & Resort, Dom, Shambhala, and others).
The largest group in the study, with 15 properties, is midscale, covering everything from renovated classic recreation centers and family park complexes to concept cottage projects (Glibivka Family Park, Ulis, Pushcha Lisova, Congress Hotel Pushcha, KIDEV, and others).
Geographically, the recreational projects fall into four distinct clusters: the most expensive Obukhiv/Novoobukhiv cluster (Koncha-Zaspa, Kozyn, Pidhirtsi, Khodosivka); the Vyshhorod cluster (Kyiv Sea, Hlibivka), oriented toward family and water tourism; the historic resorts of the Zhytomyr/Western cluster, which also has the highest concentration of MICE venues; and the Boryspil/left-bank cluster of modern clubs with water park areas (Vyshenky, Boryspil district).
ArtBuild Hospitality (ABH) is a Ukrainian company with 20 years of international experience in hotel development and consulting. It has completed more than 100 projects (from audits to fee development) and operates in 15 countries, including Ukraine, Italy, Portugal, Hungary, Austria and Germany.
