The real estate market in Ukraine is experiencing unexpected growth, with homes north of Kyiv selling quickly and prices in western regions skyrocketing by up to 75 percent. Marina Krasnolenska, a real estate agent, explains that in the months following the withdrawal of Russian troops, selling property in areas previously affected by shelling and destruction was tricky.

However, as infrastructure and homes are being rebuilt, customers are no longer repulsed and are interested in purchasing real estate in these areas. Despite the economic challenges faced by the country, Ukrainians are holding on to significant amounts of money in banks and outside them, indicating their continued desire for homeownership.

The war has also reinforced the nationwide obsession of living in houses instead of apartments, with many Ukrainians cherishing the idea of returning to their grandparents' village houses with gardens and well water.

The ongoing war has led to blackouts and disruptions in water and heat supply, further increasing the desire for houses with power generators and solar panels. The market is also witnessing an increase in the demand for townhouses, offering more space and amenities than apartments.

Housing prices in central Ukraine had initially gone down, but they are now moving up as the market shows unexpected growth and construction projects resume. The real estate market in Kyiv is predicted to continue growing, with prices increasing in the rental sector and to a lesser extent in housing sales.

However, several factors, such as underdeveloped mortgage markets, a shortage of construction materials and workers, and a deficit of supply, are keeping prices high.

Developers are considering employing migrant workers from other regions, Asia, and even Eastern Europe, which may result in short-term price spikes. Overall, despite the challenges, the real estate market in Ukraine is showing resilience and potential for growth.