It seemed that endless bombings and maniacal stubbornness of Russia would collapse the real estate market in Ukraine.

But the market, instead, began to "move". Where and under what rules? Together with our colleagues (industry specialists, analysts and journalists), we tried to record new trends and forecast the movement vectors of the domestic real estate market in a new format - at the DIM Talks discussion panel. And now I am ready to share theses from the first.

Geographical factor: away from the fronts

What do we have now? A real boom in the market in the west of Ukraine and partially in Kyiv. Everything is clear here: away from the enemy and closer either to the European borders or to the capital, as a space for the realization of ambitions and opportunities - personal and business.

"After February 24, there are projects that started. There are as many as 357 of them throughout Ukraine. Among them, Lviv Oblast is the leader, Kyiv Oblast is second, and three western Ukrainian oblasts - Ivano-Frankivsk, Zakarpattia, and Ternopil, respectively.

Another 365 residential complexes were able to complete their sales after the invasion began. Lviv Oblast is also in the first place here," noted LUN representative Oleksandr Androsovych.

A full-scale war changed the TOP-5 cities with the most expensive real estate. So far it was Kyiv, Dnipro, Lviv, Odesa and Kharkiv. Now these are Lviv, Kyiv, Uzhhorod, Dnipro and Odesa.

Lviv has emerged as a leader and is turning into a center of attraction closer to European borders (read - security). Transcarpathia, the safest region, appeared on the list, and Kharkiv naturally disappeared from the list due to incessant air attacks.

Prices. Housing became more expensive by 53%. If earlier it was necessary to count on UAH 35,000 per square meter. m in the most expensive Kyiv, now it is UAH 53.7 thousand in the most expensive Lviv.

Who is buying real estate now?

The war fundamentally changed the structure of the target audience of real estate buyers. Investors, businessmen, and specialists with high incomes gave way to military personnel, law enforcement officers, and forcibly displaced Ukrainians. Only young families with children remain unchanged buyers.

According to the owner of City Development Solutions, Roman Gerasymchuk, if before February 24, clients considered real estate as an investment, sought to improve their conditions or change their place of residence, now they are buying an apartment to move to a safer region or to purchase housing instead of the one destroyed by the occupiers.

And because of the large-scale relocation of production and the opening of new enterprises in the western regions, and therefore forced relocation, they buy housing there.

3+4 – how will buyers choose housing in 2024?

Safety is a new and fundamentally important point. A multi-functional shelter in the house, the subway next to capital load-bearing walls - this is what potential buyers are asking for today.

And in order to sell areas, builders will have to change their approach. Previously, panoramic windows were offered. Now they should be armored.

Not your own money - it is easier for the developer to sell more apartments if he participates in state programs, for example, "eOselya" and "eVidnovnelnya".

Personal Loyalty Index - the potential buyer now needs more. More time, attention, individual profits and assurances that the developer will build his home.

And, of course, everyone wants to receive a personal program of bonuses, deferrals, discounts or club preferences. The reasons are different: social status, age, psycho-emotional state, worldview position or... the developer should be both a psychologist and a personal financier.

There are also 4 points that are familiar to the market and remain important for a potential buyer:

Cost. Developers should maintain a balance between market price and quality if they want to sell their real estate. Sharply raising prices is guaranteed to lose a customer.

Eyes want to see - people are more willing to buy housing in those objects on the primary market, where there are already ready sections, landscaping and the internal infrastructure of the complex is working.

"Move in and live" - ​​the demand for renovated housing has increased significantly. Customers no longer want to delay life and waste time on repairs. They want to live already. The developer should offer him such an option

No one wants to settle in a field or wait years for utility and infrastructure benefits. As Olena Malenkova, general director of the KSU-realty group of companies, told DIM Talks, after 2014 they were formed by IDPs who had any kind of housing.

During the pandemic, multi-room apartments and private houses were at the top - people in forced isolation sought to have more space. Currently, the demand is formed by the military, the military industry, the IDPs and everyone who can take advantage of the state program of preferential mortgages "eOsel" - they account for almost half of the transactions for the purchase of housing.

"What most buyers are looking for are 1-2-room apartments with repairs costing $40-100,000. Inexpensive townhouses, but with developed infrastructure - no one wants to settle "in the field". From the comfort class, these are closed residential complexes, the highest prices there today.

If we are talking about commercial real estate, then separately located buildings under the industrial complex are in demand here. They are ready to buy at a higher market price