The Ukrainian real estate market is experiencing an unprecedented shift. Over the past five years, the compact housing format — apartments ranging from 20 to 30 square meters — has become the hottest commodity. In some regions, the cost of such lots has increased three to four times, while the frenzy in the western part of the country has reached peak levels. RBC-Ukraine examines how the situation with renting and buying "small apartments" has changed and why one now needs to save for almost 10 years to buy an apartment in Kyiv.

Mini-apartment rentals: explosive growth in the West

According to a study by OLX Real Estate, the median rental cost of small apartments has increased in all regional centers of Ukraine compared to May 2021. However, the geography of price growth is uneven. The leaders of the negative rating are the western regions, where the demand for compact housing exceeds supply.

Ivano-Frankivsk became the absolute leader in price growth. Here, the rent for apartments up to 30 square meters increased by 217%, reaching 9,500 hryvnias per month. Second place is Uzhhorod with a growth of 175% and an average rate of 11,000 hryvnias.

The capital was not spared by this trend, although the figures here are more moderate. In Kyiv, the rent for compact apartments increased by 60% and now averages 12,000 hryvnias per month.

Where demand collapsed and where it is breaking records

Price growth is inextricably linked to tenant interest. The number of responses to rental listings for such apartments has increased significantly in most regions. However, there are exceptions caused by the difficult local situation.

A decline in demand has been recorded in only two cities:

  • Dnipro: a decrease in interest of 25%;
  • Kherson: a critical drop of 98%.

Analysts note that small apartments today remain one of the most popular housing formats for rent. This is explained by their affordability for single people and couples, as well as the ability to move quickly.

Purchase: prices are rising, but demand is cautious

The sales market shows a similar trend of increasing costs, but the demand dynamics here are different. Small-area apartments have become significantly more expensive, however, Ukrainians tend to prefer larger housing when purchasing.

In Ivano-Frankivsk, the median price for a compact apartment has increased fourfold, reaching 1.7 million hryvnias. The situation in Kyiv is also tense: the average cost is about 1.8 million hryvnias, which is 74% higher than before the start of the full-scale war.

The greatest interest from buyers in such properties remains in the western regions. In other cities, demand either remained at the 2021 level or changed insignificantly.

How many years to save for "square meters"?

Previously, RBC-Ukraine published data on how many years Ukrainians need to save their entire salary to buy a one-room apartment. The gap between regions is colossal.

The most affordable housing remains in frontline cities, where one can save for an apartment in 2–4 years. At the same time, in cities such as Kyiv, Uzhhorod, and Lviv, this period stretches to 8–9 years. Moreover, over the last year, housing costs in most regional centers have increased by another 10–20%, with the greatest growth recorded in Ternopil. At the same time, housing in Zaporizhzhia and Kherson, on the contrary, has become cheaper.