Over the past six months, the cost of housing in Odesa has shown significant growth, despite frequent shelling of the city. The most notable increase has been in one-bedroom apartments, which has become a prominent trend in both the primary and secondary real estate markets.
This is reported by Finway
Secondary Market: Price Dynamics and Districts
Prices for one-bedroom apartments in the secondary market of Odesa have risen by 15%, reaching an average of 44 thousand dollars. In terms of price increases for “odnushkas,” Odesa is second only to Rivne, where the growth was 16%. Two-bedroom housing currently costs 63 thousand dollars (+11%), while three-bedroom apartments are priced at 85 thousand dollars (+13%).
The most expensive apartments are located in the Primorsky and Kyiv districts, while the most affordable housing is offered in the Khadyjibey and Peresyp districts of the city.
Primary Market: Cost of New Constructions and Buyer Expectations
In the new construction market of Odesa, housing prices have increased by 10% over the past six months, second only to Zhytomyr, where the growth is 11%. The average price per square meter in new constructions is 1,090 dollars, depending on the class:
- economy – 700 dollars (a decrease of 12%);
- comfort – 900 dollars (an increase of 8%);
- business – 1,100 dollars (an increase of 12%);
- premium – 1,690 dollars.
“Surveys show that 40% of buyers expect further price increases for new constructions, 28% anticipate a decrease, while 33% predict stability.”
Apartment Rentals and Their Affordability in Ukrainian Cities
Analysts have studied what portion of the average salary Ukrainians spend on renting one-bedroom apartments. According to the research, the highest percentage of income spent on housing is in Uzhhorod – 76%, followed by Lutsk – 67%, Lviv – 65%, and Kyiv – 61%.
In Odesa, due to rising prices, the share of salary that renters spend on housing has increased by 9%, but it remains below half of the average income – 46%. This indicates relative affordability of rentals compared to other major cities in the country.