Kyiv's New Construction Demand Plummets to 20%: The Investor Exodus Explained

The State of Kyiv's Real Estate Market

According to ХВИЛЯ: Demand for new-build apartments in Kyiv has collapsed to just 20% of its pre-war level. Bulk investors, who previously purchased entire building sections, have now completely exited the market. This data was presented in a review by the channel 'PRO Real Estate of Kyiv' on February 15, 2026, and corroborated by a National Bank of Ukraine report on financial stability, which noted that demand for new housing in 2024 was a mere 20% of the pre-war figure. The ongoing conflict has fundamentally reshaped the economic landscape, severely impacting major investments like real estate.

Reasons Behind the Demand Collapse

Key factors driving this sharp decline include:

• Widespread construction delays averaging 18 to 24 months;
• Troubled developers, where delays can extend to 2.5–4 years;
• Specific Kyiv residential complexes facing postponements of up to 5–6 years.

The era when investment funds actively participated in pre-sales and bought dozens of units at a time is now firmly in the past, having peaked in 2020–2021.

Experts point to two primary factors affecting the drop in demand:

• A deep-seated distrust of developers due to chronic delays;
• A significant psychological factor among potential buyers.

Viktoriia Bereshchak notes that 'people are constantly on an emotional rollercoaster due to global events and the situation on the front lines, leading to instability in housing demand.'

The situation in Kyiv's property market highlights severe challenges facing both consumers and construction firms. The drop in demand could lead to further economic difficulties for the sector and negatively impact the country's investment climate. Amid construction delays and frontline instability, Ukrainians continue to seek stability in their housing choices, which may require new approaches from developers and the government to restore confidence in the market.