Prices for apartments in Uzhgorod rose by 60%

Free ads online service OLX determined how the prices in the secondary housing market in Ukraine have changed in a year. 

Despite the fact that the average price for 1-bedroom apartment in Ukraine in dollars has not increased and even declined slightly, prices in hryvnias have risen by almost 2 times, which led to a significant decline in demand. 

While dollar prices of apartments on the secondary housing market have fallen by an average of 14%, in local currency, prices have risen by 75%. Given that the welfare of Ukrainian has not improved, such jump in prices could not have a positive impact on demand – at the end of the year, the apartments on the secondary market were bought a lot less often. Thus, the number of closed deals on the OLX in November fell by 3 times compared to January 2014.

In January 2014, the average price for a 1-bedroom apartment on the secondary housing market in Ukraine amounted to 254,023 UAH, or 31,753 USD (exchange rate 8.0). In the capital,appartments were the most expensive. A 1-bedroom apartment cost about 400,000 UAH, or 50,000 USD. Traditionally, prices were high in million cities and in Sevastopol and Simferopol. Thelowest prices for apartments were in Kirovohrad – just over 170,000 UAH.

By the end of the year, along with the rate of the dollar, prices for appartments in national currency soared too. The average cost of a 1-bedroom apartment on the secondary housing market reached 445,974 UAH, although dollar prices fell to 27,873 USD (rate 16.0). 

As for Uzhgorod, housing prices here have also increased significantly. While at the beginning of the year, one-bedroom apartment cost 228,027 UAH and the city ranked 16th in the rating, at the end of the year, this amount increased to 363,445 UAH, but the position in the rating remained unchanged. 

Oksana Venhrovska, PR-manager of the OLX.ua