Over 80% of apartment demand in Kyiv accounts for primary market – study
Apartments in the primary housing market of Kyiv account for 81% of the total demand structure in March 2021, while the overall demand decreased by 8% compared to the previous month, according to a study conducted by the Address.ua portal.
"Due to the successful completion of 2020 for most developers, the primary real estate market has noticeably revived in the first quarter of 2021, sales were opened in ten new residential complexes, seven of them in March. Demand also remains quite stable: in March, the number of requests for apartment search decreased by 8% after the high activity of buyers in January-February, but the total volume remains high," Director of City Development Solutions Roman Herasymchuk said.
According to him, in the first quarter of 2021, there was a high volatility in prices due to promotions and discounts from developers in the preholiday period. Thus, in January, the median price for new buildings in Kyiv increased by 7%, in February it decreased by 9%, and in March it rose again by 7% and amounted to $1,077 per square meter.
"Taking into account the start of the next lockdown in April, we can expect a slight decrease in sales due to technical difficulties with moving around the city. However, immediately after the weakening of quarantine restrictions, we can expect the implementation of deferred demand, which is accumulating this month," the expert said.
Requests for one-room apartments in March 2021 amounted to 44.7% of the total volume, for two-room apartments – about 40%, and three-room apartments – 15.1%. At the same time, apartments in the price range of $50,000-70,000 (some 45%) were the most popular, in second place – up to $30,000 (some 36%), and apartments worth $30,000-50,000 occupy 12% of the total demand structure.
According to the portal, in March, advertisements for the sale of apartments in Shevchenkivsky district of the capital were most often viewed (the median price is $1,440 per square meter), followed by Holosiyivsky district ($1,000 per square meter), Pechersky district ($2,960 per square meter) and Obolonsky district ($1,000 per square meter). The byers were least interested in buying an apartment in Podilsky district.
Address.ua study is based on an analysis of the messages posted on the portal and user activity (398,000 visits in March 2021).
Address Group is a group of companies that have been providing online information services since 2010 for searching and promoting real estate in Ukraine, Russia, Belarus, Kazakhstan and Moldova.