Odesa Region Real Estate Prices Rise 14% Amid Recovery and

Real estate prices in Odesa region increased by 14% over the last quarter.

This was reported on the air of Intent.Insight by Yuriy Motuz, Director of ZEZMAN Holding, a development company of Odesa Agglomeration.

He noted the growth of housing prices in the Odesa region despite the difficult security situation. According to the latest data from the LUN analytical platform, the cost per square meter in the region increased by 14% over the quarter. The expert attributes the positive trend to a gradual recovery in demand, stabilization of the situation in the construction sector and investor confidence in the region.

Compared to Central Ukraine, Odesa region has several distinctive features. First, construction here is often focused on recreational potential and premium or mid-market housing, while the central regions are dominated by massive residential complexes for domestic use. Secondly, the historically formed style of development in Odesa is a combination of architectural heritage and modern projects, which forms a unique urban landscape. However, the psychological factor remains important.

"People are still in a state of mental occupation, many live in a "semi-suitcase" mood, that is, they are ready to leave in case of a threat. This is especially fueled by information attacks by Russian propaganda media," the expert explained.

Nevertheless, the market has been reviving in recent months. Dealers note an increase in interest in buying real estate. One of the reasons is that people are adapting to the war: "We have been at war for more than three years. People are getting used to the new reality, starting to make plans again, looking to the future and returning to the issue of buying a home. After all, life goes on."

Yuriy Motuz also drew attention to the fact that Odesa is becoming a new home for a large number of internally displaced persons who were forced to leave the regions where active hostilities are ongoing. According to representatives of the real estate market, many of these people not only temporarily stay in the city, but also stay here permanently, assimilate, arrange their lives and plan for the future.

"Thanks to the state, people have a real opportunity to buy housing in Odesa. In particular, we are talking about the eOselya program, which allows you to take out a mortgage on favorable terms at a low interest rate. In our opinion, this is the best mortgage lending program that has ever operated in Ukraine," said the director.

Ірина Глухова