Buying a home during a war remains an impossible dream for many Ukrainians.
Despite the full-scale war, the issue of buying and selling housing in Ukraine does not lose its relevance. But the price of this issue is simply astronomical! In some places, in order to buy their own apartment, Ukrainians need to save their entire salary for 10 years!
That is why Ukrainians are increasingly buying real estate in European countries. They say that in some countries it will be easier to buy housing than in Ukraine. All the details – see the exclusive ТСН.ua.
Buying housing in Ukraine – where is it most expensive
Buying a home in Ukraine during military operations remains an unrealistic dream for many citizens of the country. In order to buy a one-room apartment, you need to save your entire salary for an average of 2 to 10 years, depending on the city you are looking at housing in. This is the conclusion reached by experts from LUN and Work.ua based on their calculations.
The most expensive housing in Ukraine is now in Lviv, Kyiv, and Uzhgorod. There, 1 sq. m on the secondary market costs $1,500, $1,470, and $1,270, respectively.
The top five cities with the most expensive real estate also include Vinnytsia and Lutsk. The cost of a square meter of housing there is 1,110 and 1,040 dollars, respectively.
So, to buy an apartment, you will have to put aside your entire salary:
- Lviv – in 10 years for a one-room apartment (price 65 thousand dollars), 13.7 years – a two-room apartment ($89 thousand), 17.2 years – a three-room apartment ($112 thousand);
- Kyiv– for 8.3 years for a one-room apartment ($60,000), for a two-room apartment – 13 years ($94,000), for a three-room apartment – 18.7 years ($135,000);
- Uzhgorod – for 8.9 years for a one-room apartment ($55,000), for a two-room apartment – 13.4 years ($83,000), for a three-room apartment – 16.4 years ($102,000);
- Lutsk – for 8.6 years for a one-room apartment ($46,000), for a two-room apartment – 10.7 years ($57,000), for a three-room apartment – 12.2 years ($65,000);
- Vinnytsia– for 8.2 years for a one-room apartment ($45,000), for a two-room apartment – 11.8 years ($65,000), for a three-room apartment – 13 years ($72,000).
By the way, over the past six months in Lviv the cost of real estate on the secondary market has increased by 5%, in Uzhgorod – by 3%. In Kiev, real estate unexpectedly fell in price by 3%, in Vinnytsia – by 2%. In Lutsk, the price did not change during this period.
Where is the cheapest real estate in Ukraine
The cheapest real estate is currently in Kherson, Zaporizhia and Kharkov, which is due to the proximity of the front line and the frequency of Russian attacks. Sumy and Nikolaev are also on the list of cities with the cheapest real estate. Note that the temporarily occupied territories were not taken into account for the analysis.
The cost of 1 sq. m on the secondary market in Kherson, Zaporizhia and Kharkov is on average 450, 500 and 590 dollars, respectively. Prices in Kharkov have decreased by 13% over the past six months, in Zaporizhia – by 15%, in Kherson they have remained unchanged.
A square meter of living space in Sumy and Nikolaev costs $600, while in Sumy the price has fallen by 8% over the past six months, and in Nikolaev it has grown by 2%.
To buy an apartment, you will have to save your entire salary:
- Kherson – in 2.8 years for a one-room apartment ($15,000), there is no data on two-room apartments, three-room – 5.2 years ($28,000);
- Zaporozhye – in 3.3 years for a one-room apartment ($17,000), two-room – 4.6 years ($24,000), three-room – 6.7 years ($35,000);
- Kharkov – 3.6 years for a one-room apartment ($20,000), 6 years for a two-room apartment ($33,000), 7.7 years for a three-room apartment ($42,000);
- Mykolaiv – 4 years for a one-room apartment ($21,000), 5.7 years for a two-room apartment ($30,000), 7.7 years for a three-room apartment ($41,000);
- Sumy– for 4.6 years for a one-room apartment ($20,000), a two-room apartment – 7.2 years ($32,000), a three-room apartment – 7.9 years ($35,000).
In other cities of Ukraine, over the past six months, prices for real estate on the secondary market have fallen by 4-6%, only in Rivne have they grown by 14%. So, to buy an apartment in Rivne, you will have to save your entire salary for 8 years. And this is for a one-room apartment. The situation is similar in Chernivtsi.
To buy a home in Zhitomir, Cherkassy or Poltava, you need to save your salary for about 7 years. In Odessa, Ternopil, Ivano-Frankivsk, Chernigov and Khmelnytskyi, you need to save your entire salary for no less than 6 years. Note that the data is calculated based on the current situation on the real estate market and the level of salaries.
Real Estate in Spain
Considering all these figures, in recent years Ukrainians have become more active in buying residential real estate abroad. In particular, in Spain. There are several reasons for this.
Firstly, it is a war against Ukraine. Since the beginning of the invasion, several million people have left the country, of whom about 300 thousand have settled in Spain. If at first many rented housing, then gradually people began to buy their own real estate. Some returned to Ukraine, but provided themselves with a “backup airfield”.
Another reason is the desire to save money from depreciation. The cost of real estate in Spain is growing from year to year, and, according to forecasts, this trend will continue in the near future. Owning a home in Spain is still perceived by many as an unattainable luxury, although in fact, buying an apartment a kilometer from the Balearic Sea today can be cheaper than in Lviv. This was told to ТСН.ua by the founder of the foreign real estate agency Yuriy Grushetsky.
“You don't need citizenship or a residence permit to buy real estate in Spain. You need a passport and NIE (foreigner identification number), which is usually issued at the immigration department of the police. It can also be issued at the Spanish Consulate in Ukraine (in Kyiv). However, for Ukrainians who have applied for temporary protection in Spain due to the war, this step can be considered automatically completed. As part of the temporary protection, Ukrainians already receive NIE,” Grushetsky explained.
Next, the buyer must open an account in a Spanish bank and transfer funds to it for the purchase. This is necessary for the purchase of secondary real estate – according to the established procedure, payment is made by handing over a check to the seller. But new buildings can be purchased by paying the developer from any bank in the world. The main thing is that this is a payment from the person who signed the contract with the developer.
“It is important to note that Spanish laws require proof of the origin of capital. The FATF (Financial Action Task Force on Money Laundering) monitors that funds invested by foreigners in Spanish real estate were obtained legally. In practice, this means that the buyer must provide documents confirming the source of their funds. This could be, for example, a contract for the sale of real estate in Ukraine or tax returns for the last one or two years with income corresponding to the cost of the acquired property. Declarations of individual entrepreneurs are also suitable,” the owner of the real estate agency added.
It is possible to import cash through customs with subsequent declaration on the Spanish side. In addition, money can be transferred from bank accounts in the EU, UK, USA, Canada and other countries that have undergone financial monitoring. However, if the money came from countries with less strict financial control, for example, from the UAE or Turkey, Spanish banks will require additional documents on the origin of the capital. If you pay directly to the developer's account, then most likely the developer's bank will not have any questions. But it is better to be on the safe side.
How much does housing cost in Spain
In Spain, housing has its own specific planning. Usually, it is a large living room combined with a kitchen, and two small bedrooms. The Spanish spend most of their time on terraces, sometimes larger than the bedrooms. We are talking about apartments with an area of 70-80 m². The cost of real estate in Spain depends on several key factors: the region, the distance from the sea, the size of the property and whether it is a new building or a secondary home. Barcelona is one of the most expensive cities in the country, where it is difficult to find an apartment cheaper than 300 thousand euros. This is due to high tourist demand and limited supply. And the most affordable real estate is in the south of Spain, in particular in the Comunidad Valencia.
“If in Valencia itself apartments on the secondary market cost from 200,000 euros, then in the province of Alicante in cities such as Torrevieja, Benidorm and the city of Alicante itself, housing prices are lower. On average, the cost of apartments in new buildings ranges from 170,000 to 250,000 euros, depending on the city and proximity to the sea. New apartments are rented out with finished repairs, including a furnished kitchen and bathroom, as well as parking and storage,” Grushetsky said.
Secondary housing in small towns on the coast can cost from 60,000 euros, although this is mainly housing that requires repairs and is located in unreliable areas. Good apartments on the secondary market in the “move in and live” format cost from 90 to 120 thousand euros. But keep in mind that these apartments are located in buildings that are 30-40 years old, with renovations that were done 20 years ago and the same furniture.
▶ On the TSN YouTube channel, you can watch the video at this link: How many years do you need to work to buy an apartment in Kyiv, Lviv, Kharkov: we name the prices
