Ukrainians losing interest in real estate and 1.5 times more likely to buy land

The real estate market is recovering, but Ukrainians are in no hurry to invest in real estate, preferring to buy land.

This is stated in a message from the Opendatabot service.

According to the Ministry of Justice, in 2024, notaries certified 452,217 contracts for the purchase and sale of real estate, which is 12% more than in 2023, but still 28% less than before the full-scale invasion.

More than 60% of them concern land transactions, which is 1.5 times more than apartments or houses: 273,000 versus 178,000 transactions.

The purchase and sale of land plots increased by 18% over the year to 273,000 transactions.

Currently, such agreements have been concluded by 11% less than in 2021 (in 2021, notaries certified 306,000 such agreements).

It is noted that Ukrainians are in no hurry to invest in housing, such agreements have increased by only 3% over the year.

Currently, the rate of purchase and sale of apartments and houses remains 1.8 times lower than before the full-scale invasion.

The report says that Ukrainians have become more likely to take mortgages, such agreements have increased by 14% over the year to almost 13,000 objects.

Mainly, the restoration of demand for apartments on installments occurred due to the state program e-Housing: 70% or 8,500 mortgages for housing were issued last year through e-Housing.

On the other hand, houses and apartments are not in particular demand.

As the Ukrainian News agency earlier reported, in mid-January, the National Bank informed that currently price conditions in the real estate market in Ukraine are more favorable than before the full-scale invasion, but due to military risks, Ukrainians are not ready to actively invest in purchasing housing.

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