In recent years, there has been a significant increase in interest among Ukrainians in purchasing property abroad. Previously, real estate was mainly bought for investment purposes or to ensure children’s education in European countries, but now the main reasons are dominated by security concerns, the desire for stability, and the wish to have a “backup airfield.”
This is reported by Finway
Changing Motivations and Geography of Demand
Iryna Knorr, who heads VIP Realty Company, notes that the dynamics of demand for foreign real estate among Ukrainians have significantly changed due to the war. Before the full-scale invasion, housing outside Ukraine was mostly purchased for rental purposes or for children studying in Italy, Austria, Germany, the Czech Republic, or Poland.
After the war began, demand only intensified. The mass relocation of citizens contributed to the formation of a culture of investing in foreign housing, and the mentioned countries have become even more sought after among Ukrainians.
Three Main Directions for Purchasing Housing
Yuriy Hrushetsky, an expert from Deniz Estate, highlights three main groups of countries that interest buyers from Ukraine:
- France, the United Kingdom, Germany — demand remains stable here. Housing is primarily purchased by affluent citizens who do not plan to return to Ukraine.
- Spain — attracts those looking for resort properties in coastal regions.
- Poland — is popular due to its proximity and cultural similarities.
In Spain, the average budget for purchasing housing is 200–300 thousand euros, especially in regions like Alicante and Costa Blanca. The local market is developing, and the installment conditions are among the most favorable in Europe. Typically, the down payment is 20–30%, and the remainder can be paid during construction. The final payment is made after the property is put into operation, allowing the price to be fixed in euros at the beginning of construction. Demand for secondary real estate is also increasing: the average check is 120–150 thousand euros, although options can be found for 100 thousand euros, which is the lower segment of the market.
Spain offers some of the best installment conditions in the world. The down payment is 20−30%, and sometimes an additional 20% is paid during construction. After receiving the keys, that is, after the house is put into operation, the remaining amount is paid. In fact, the price is fixed in euros for the future property at the beginning of construction, and the full payment occurs after the property is handed over for operation. The benefits are undeniable.
Hrushetsky recommends that investors consider new buildings, as they are more liquid, already have complete renovations, and offer more favorable installment conditions. Additionally, Spain has a government system to protect investors, which minimizes the risks of purchasing unfinished properties. The southern regions of the country are traditionally in demand among vacationers from all over Europe, making investments in local real estate even more attractive.
In Poland, demand among Ukrainians remains high due to geographical proximity and shared traditions. The cost of housing in Warsaw varies: a small apartment up to 50 sq. m can cost up to 200 thousand euros. Polish citizens are increasingly investing in real estate abroad, purchasing less on the local market. Among Ukrainian buyers, 90% choose apartments, while the rest opt for private houses and villas.
The structure of motivations for purchasing looks as follows: 10% buy housing for themselves, another 10% do so exclusively for investment, while 80% have mixed motivations, combining investment, periodic residence, and creating a “backup airfield” in case of unforeseen circumstances.