There is a lot of housing for sale, but the market is slowly being replenished with new buildings. Construction of new housing in Ukraine is proceeding rather slowly, the December Financial Stability Report of the National Bank of Ukraine’s analysts emphasized.
The document notes that “new facilities are being started more often in the western regions,” while in Kyiv the situation is radically different – “here only queues of existing complexes are being completed.”
“Construction continues with significant delays due to a lack of resources, in particular labor. In the capital, developers are more actively completing higher-quality complexes, including business-class ones, and with a larger number of unsold apartments. Cheaper housing and complexes with almost sold-out apartments are more often frozen,” the NBU explains.
Despite the fact that the volume of housing commissioning in Ukraine as a whole is close to the pre-war level, multi-apartment housing is being put into operation more slowly.
Less than a fifth of the residential complexes that are currently being sold have already been completed. According to a specialized real estate portal, the number of housing complexes on sale in Ukraine has increased by 10% since the beginning of the year.
“However, further replenishment of the supply due to new construction will be slow given the ongoing uncertainty and security threats. Therefore, the risks of a shortage of new quality housing in the future remain,” the NBU emphasizes.
