Real estate market in Ukraine decreased by 63% in first three quarters of 2022 – Opendatabot

KYIV. Jan 4 (Interfax-Ukraine) – Notaries certified 224,000 real estate contracts in nine months of 2022, which is 2.7 times (63%) less than in the same period in 2021, the Opendatabot press service reported.

According to the press release, the vast majority of these transactions involve the sale and purchase of apartments and residential buildings (28%), land plots or shares (38%). For comparison: in 2021, the share of contracts for the sale of apartments and residential buildings was 36%, land plots and shares – 31% of the total number of certified transactions.

At the same time, the purchase of apartments and residential buildings for the specified period fell by almost 3.5 times – from 218,000 to 63,000 transactions. The second quarter turned out to be a failure: from April to May, only 9,400 contracts were concluded. In the third quarter, the situation leveled off: 28,900 transactions were executed, which is even more than in the first quarter (25,000 transactions).

The situation with the sale and purchase of land plots and shares is somewhat better: the number of transactions has only halved: if in the three quarters of last year 183,000 contracts were certified, then in the nine months of 2022 – only 85,000. In the most disastrous second quarter for the real estate market the number of transactions fell to 11,000, in the third quarter the figure reached 37,900.

Only the share of contracts certified by private notaries remains stably unchanged – 94% of the total number of transactions.

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