Retrospective of the Ukrainian Real Estate Market. Changes and Trends

Abstract

The article aims to study the secondary segment of the real estate market of Ukraine using geographic information systems. The authors research the secondary real estate market for four control time points of 2021, 2022, 2023, and 2024 in all regions of Ukraine. The article conducts a retrospective analysis of real estate values and rental rates based on data from open sources of information. Using the authors’ methods of statistical data collection, we analyse 10,604,201 real estate objects. It is noteworthy that property prices in settlements located in the frontline zone (areas of hostilities) are declining. In addition, there is a tendency to increase the number of offers for the sale of real estate, but the demand for the purchase has significantly decreased due to the high risk of destruction. At the same time, the demand for rental property has increased substantially, likely due to the large number of displaced persons leaving the regions and military personnel arriving instead. The article calculates the capitalisation rate and payback period on the Ukrainian secondary real estate market and makes conclusions about the trends in their changes from 2021 to January 2024. The study covers such segments of the secondary housing market as one-, two-, and three-room apartments. These calculations allow the authors to build informational and digital maps for all regions of Ukraine. The created infographic will assist investors in making well-informed decisions regarding the prospects for real estate market development in the future. It visualises the received data, allowing the analysis of large data sets in a shorter time interval. The article’s relevance lies in applying geographic information systems in studying a large volume of statistical information and creating information-digital maps by regions of Ukraine. The research result is information-digital maps with diagrams of real estate value changes in retrospect by regions of Ukraine. The results obtained by the authors will be relevant to realtors and appraisers for real estate value calculations and forecasting the situation of the real estate market in the future. Stakeholders can use conclusions made by the authors to determine the most attractive object for investment. Keywords: information and digital map, real estate, stakeholder, capitalisation rate, payback period, geographic information system.