The housing rental market in Ukraine breaks records: where prices grew the most

The demand for housing rentals in Ukraine in 2024 significantly exceeded the previous year's figures, demonstrating unprecedented growth. Renting an apartment has become more profitable than buying, which has provoked an intensification of the rental market in many regions of the country.

According to a study by DIM.RIA and the Association of Real Estate Specialists, during the year the number of rental housing offers increased, as did rental rates. This was accompanied by a significant decrease in the exposure period - apartments find tenants faster than before, even despite the increase in prices.

The most expensive region for rent traditionally remains Kyiv, where the average cost of renting a one-room apartment is 17,918 hryvnias per month. At the same time, the largest price increase was recorded in Chernivtsi (+32%) and Zakarpattia (+17%) regions. In western Ukraine, rental rates also increased in Ivano-Frankivsk (+37%) and in Kyiv itself (+32%) over the year.

The western regions have become some of the most expensive to rent. In Zakarpattia Oblast, the average price of a one-room apartment reached 18,500 hryvnias, in Lviv Oblast — 17,000 hryvnias, in Volyn Oblast — 15,000 hryvnias, and in Ivano-Frankivsk Oblast — 13,700 hryvnias. Chernivtsi Oblast offers rent for an average price of 12,500 hryvnias, and Vinnytsia and Rivne Oblasts — 12,000 and 11,500 hryvnias, respectively.

Despite the increase in rates, demand for rent remains consistently high. Analysts note that the rental segment demonstrates the greatest resilience among all sectors of the real estate market. This is supported by the constant increase in rates and the reduction in the time it takes to find tenants.

The most expensive cities for rent remain Kyiv, Lviv and Uzhhorod. In the segment of one-room apartments, Uzhhorod leads (18.5 thousand UAH/month), Lviv (17 thousand UAH) and Kyiv (16.5 thousand UAH). In the segments of two- and three-room apartments, the capital maintains the lead with average prices of 22.9 thousand UAH and 37.5 thousand UAH, respectively. The rental market in Ukraine continues to adapt to challenges, remaining one of the most dynamic in the country.