Rental prices in Lviv have dropped to the pre-war level and keep decreasing – real estate agent

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Still, finding cheaper options is quite a hard task because most of them are already occupied, unlike the business-class flats.


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The cost of rent in Lviv has stabilized and returned to about the same price policy, in foreign currency equivalent, that existed before the full-scale invasion. Namely, a one-room apartment with a modern renovation in a new building would cost 400-500 dollars, or 600 if it’s something quite exclusive. This was announced by a realtor from the «Halytska nerukhomist’» («Galician Real Estate») agency, Roman Yuskiv.

A two-bedroom apartment costs about $100 more, but it relates to a business-class apartment.

«For example, we now have a three-room apartment in a new building on the street Boykivska, its price is $ 800. As for cheaper options, we have an offer to rent a two-room apartment in the classic «Czech building» on the street Lubinska. This is not the worst area, and it costs 10 thousand hryvnias (about $300). Still, cheaper apartments are immediately taken, because they are in great demand,» – says the realtor.

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Currently, business-class housing can be found in Lviv, as a significant part of it was rented by refugees from Kyiv and Kharkiv, and now many of them are returning home. Roman Yuskiv adds that, in addition to IDPs, various humanitarian missions have also rented expensive apartments, in particular representatives of foreign foundations, who have also left.

It should be added that after the start of the full-scale invasion, the rent almost doubled, but there were people who settled for free, some of the citizens of Lviv did not raise the price, while some were engaged in the price policies close to «looting». The realtor notes that if in March, a premium apartment cost $2,000, now it can not even be offered for rent for $1,000.

«I think the rent will be cheaper. Despite resettlement, Ukraine is still at war. People have to work, and refugees are also looking for work to continue living. This year, GDP is forecast to decline by 30%. I think the cost of rent may fall by 20%. For example, in Kyiv, prices have fallen by 40%,» – the expert suggests.

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Still, while the situation on the rental market has stabilized a bit, there is almost no activity with purchase and sale. Housing is bought only by those who made the decision before the war. There are also difficulties with the process itself, because the registers are partially operational, and a person can be deregistered only in the event of his death. Secondly, a power of attorney does not work, so those who went abroad can not implement the contract of sale. Roman Yuskiv says there were hopes that the settlers would buy housing in Lviv, but they preferred to rent, and now many are returning home.

At the same time, the cost of housing in the market of purchase and sale remained the same as six months ago. For example, the classic «Khrushchev-built house» in good living condition in a residential area costs $ 1,000 per square meter. Approximately the same amount will apply to an apartment in a new building in the zero cycle, but on the top floor.

The realtor notes that the slow market for the sale of housing is also observed in the execution of contracts. Now, notaries draw up 2-3 agreements a week, despite the fact that not all specialists work. Previously, they did this amount per day.

It will be recalled that a government decree is currently in force in Ukraine, which, in particular, proposes to resettle refugees through re-buying and construction of the housing at the expense of the state.

Yulia Osym, translated by Vitalii Holich

Follow us on Facebook and Instagram. Lviv Now is an English-language website for Lviv, Ukraine’s «tech-friendly cultural hub.» It is produced by Tvoe Misto («Your City») media-hub, which also hosts regular problem-solving public forums to benefit the city and its people.


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