Natalia Kyselova, a real estate specialist, lawyer, head of the Megadom real estate agency, and chair of the Kropyvnytskyi branch of the Ukrainian Real Estate Professionals Association, shares insights into the current state of the city’s property market.
Good afternoon, Ms. Natalia. What are the trends in Kropyvnytskyi’s secondary housing market? Who drives demand and who is buying?
Good afternoon. In 2025, Kropyvnytskyi’s real estate market shows stable dynamics, with a cautious price increase of around 5–7%. Demand is shaped by economic conditions, demographic and social factors, and the interest of internally displaced persons (IDPs) in relatively safe regions. Most buyers are local residents resolving their housing needs. To a lesser extent, IDPs invest in ready-to-move-in properties, as well as individuals purchasing homes through government programs or using state compensation related to the war — including, unfortunately, compensation for fallen soldiers. Military personnel are increasingly active in the market, especially those who received payments after injury or captivity.
What’s happening in the primary housing market in terms of pricing, demand, and the impact of government programs?
Prices in the primary market are rising due to increased construction costs and inflation. While demand exists, it’s lower than in the secondary market because new housing is more expensive and often requires additional investment in interior finishing, which takes time, money, and effort. Government programs — particularly the “YeOselya” initiative, which offers preferential mortgage terms — are gaining traction. However, the number of new buildings in Kropyvnytskyi is limited, making the selection under YeOselya (which requires properties to be no older than three years) quite narrow. Still, the program’s conditions are becoming more flexible, allowing broader access. Currently, preferential loans are available not only to public sector employees but also to individuals who do not own property or whose living space is below 52.5 m² plus 21 m² per additional family member.
What local factors influence pricing in these segments?
Property value depends on both objective and subjective factors. Beyond location, layout, heating type, floor level, and building type, individual features such as interior condition, finishes, furniture, appliances, and even the atmosphere of the home play a role.
The most sought-after areas are neighborhoods close to the city center and those with convenient access to schools, kindergartens, shops, supermarkets, pharmacies, and public transport. In more remote or underdeveloped districts, property prices can be 10–15% lower.
What are the trends in the rental market?
Rental demand remains high, largely due to people relocating from frontline regions. There’s a growing need for pet-friendly housing, as many evacuees bring their animals with them. I’d like to take this opportunity to encourage landlords not to reject tenants with pets — in most cases, responsible owners cause no issues.
How quickly are rental properties being leased?
If the price matches the quality, properties are rented out quickly — often within a few days. Homes equipped with furniture and appliances are in significantly higher demand than unfurnished ones.
What are your market forecasts for 2025?
Kropyvnytskyi remains one of the cities with relatively affordable housing. Despite wartime risks, the market is active. If macroeconomic and political conditions remain stable, housing prices will continue to grow gradually. There’s also increasing interest in properties located in nearby towns and villages, where prices are notably lower than in the city itself.
