Key facts
- Long-term rental listings in Kyiv increased by 66% in the two months prior to the report.
- Kyiv rental prices fell 6% in the last month to an average of 17,000 hryvnias ($377) per month for a one-bedroom apartment.
- Rents in western Ukrainian cities like Lviv and Uzhhorod have surpassed those in Kyiv.
Kyiv's housing market is experiencing a significant downturn as residents flee the capital due to escalating Russian attacks and concerns about winter energy and heating disruptions. The number of long-term rental listings has surged by 66% in the past two months, leading to a 6% drop in rental prices over the last month to an average of 17,000 hryvnias ($377) for a one-bedroom apartment, the lowest in a year. Many residents are relocating to safer regions within Ukraine or abroad, while companies are moving their operations to western cities like Lviv and Ivano-Frankivsk. This exodus has driven up rental prices in western Ukrainian cities, which now rival those in Kyiv and even some EU capitals. Some landlords in Kyiv are considering rent reductions to attract tenants, while others are investing in backup power solutions to make their properties more appealing during potential blackouts. Despite the current trend, some believe the relocations are temporary, with many Kyivans hesitant to permanently abandon the capital due to job opportunities and lower rents compared to western regions.