Rental markets in most cities of the western regions are at a price peak, according to LUN (a real estate portal). In Lviv the average rent for a one-bedroom apartment rose from 20,000 UAH in May to 25,300 UAH as of 10 November.
Lviv: one-bedrooms up almost 49% year-on-year
In Lviv the average rent for a one-bedroom apartment was 20,000 UAH in May, 24,700 UAH in August, and 25,300 UAH as of 10 November. Over the last month one-bed flats rose by about 10%, over six months by 26.4%, and year-on-year by almost 49%.
Two-bedroom apartments rented for an average of 24,000 UAH in May, and since August the price has not fallen below 31,400 UAH. Over the last month two-beds have become 2.09% more expensive, over six months by more than 30%, and year-on-year by 48.8%. The average rate for three-bedroom apartments in the city is 41,300 UAH; over six months they have risen by almost 43%, and year-on-year by 62%.
Ivano-Frankivsk, Ternopil and Chernivtsi: rate changes and examples
In Ivano-Frankivsk the average one-bedroom apartment cost 18,000 UAH in the summer and now costs 23,000 UAH - growth of almost 30% over six months. Two-bedroom apartments rose from 20,300 UAH to 27,600 UAH, and three-bedrooms from 22,500 UAH to 32,200 UAH.
In Ternopil at the start of the summer one-bedrooms cost 14,500 UAH, two-bedrooms 16,700 UAH, and three-bedrooms 20,300 UAH. At the start of November one-bedrooms were 17,500 UAH and two-bedrooms 20,700 UAH. Only 38 three-bedroom listings are available in open databases for Ternopil; examples of adverts include a three-room 60 sq. m flat for $250 per month with outdated finishes, and an 85 sq. m apartment in a new complex for $650-$750.
In Chernivtsi, rents for one-bedroom apartments have risen by 34% over the past six months: at the start of the summer they rented for 15,800 UAH and now for 18,400 UAH. Two-bedrooms have moved from 20,300 UAH to 23,000 UAH. There was insufficient data for three-bedroom flats; slightly more than 40 such properties are listed in open databases.
Among available offers many properties fall in the $400-$500 range - for example a three-room 71 sq. m flat in a panel building for $500. More expensive options cost over $800 in new complexes, and the highest finds were three-bedroom apartments for $1,127 and $1,600.
Lutsk and an expert view
In Lutsk rents are rising more slowly: year-on-year one-bedroom flats have increased by 39% and now cost on average 20,000 UAH, while two-bedrooms are up 10%. In the summer one-beds were 15,000 UAH and now 16,500 UAH; two-bedrooms rose from 16,300 UAH to 19,500 UAH.
The head of the agency 'KyivDimServis', Andriy Romanov, links the rise in rental rates to a new wave of migration of displaced people to the western regions and to higher purchasing power among some of those who moved. “By our estimates, around 500,000 people left Kyiv and the suburbs. This can be judged both by the number of rented flats that have been vacated and, for example, by a number of indirect signs (one of them is a reduction in the number of traffic jams on the roads). Most people rushed to the western regions, believing they are not only safer and subject to fewer strikes, but also that the situation with electricity and heating for the winter is better there,” says Andriy Romanov.
