Housing or land. Ukrainians have decided what is more expedient to buy during the war
12 February 22:07
The real estate market in Ukraine is recovering, but Ukrainians prefer to invest in land.
This is reported by Opendatabot, Komersant ukrainskyi reports.
Ukrainians are 1.5 times more likely to buy land than housing. 452,217 real estate purchase and sale agreements were notarized in 2024, according to the Ministry of Justice.
More than 60% of them relate to land transactions. Also, Ukrainians managed to get more than 13 thousand mortgages, the lion’s share of which were issued under the eHouse program.
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452 thousand real estate purchase and sale agreements were conducted by notaries last year. This is 12% more than in 2023, but still 28% less than before the full-scale conflict.
60% of all contracts were concluded for land plots. This is 1.5 times more than the number of documents for apartments or houses: 273 thousand versus 178 thousand transactions.
The purchase and sale of land plots increased by 18% over the year: up to 273 thousand transactions. Currently, the number of such transactions is 11% less than in 2021. For comparison, notaries notarized 306 thousand such agreements then.
However, Ukrainians are in no hurry to invest in housing: the number of such transactions increased by only 3% over the year. Currently, the rate of buying and selling apartments and houses remains 1.8 times lower than before the full-scale invasion.
At the same time, Ukrainians have become more likely to take out mortgages, with the number of such transactions increasing by 14% over the year. This is almost 13 thousand properties. The recovery in demand for installment loans was mainly driven by the government’s eHouse program: 70% or 8.5 thousand housing mortgages were issued through eHouse last year.
