Kyiv

1. Cultural Heritage: Kyiv is home to some of the oldest churches in Eastern Europe, including Saint Sophia's Cathedral, a UNESCO World Heritage Site, which dates back to the 11th century and is known for its stunning mosaics and frescoes. 2. Underground River: Beneath the city lies the Lybid River, which is now mostly hidden from view. This underground river flows through several parts of Kyiv and has been a part of the city's history long before it became a bustling metropolis. 3. Historical Funicular: The Kyiv Funicular, which connects the city center to the historic district of Podil, was opened in 1905. It was one of the first funiculars in Europe and is still in operation today, providing scenic views of the Dnieper River and the surrounding landscape.

The housing market in Kyiv is experiencing moderate growth in 2025. Around 79% of residents own their homes, while 14% are renters, a shift caused by the impact of war and internal displacement. Publicly owned housing accounts for less than 1% of the market, playing a minimal role and primarily serving vulnerable populations such as internally displaced persons, with new projects supported by international aid. Public housing is not synonymous with social housing in Kyiv; public housing refers to state or municipal property, while social housing specifically targets low-income or at-risk groups, often in the form of affordable or temporary accommodations. The average price to buy an apartment in Kyiv is approximately €1,240 to €1,300 per square meter, with recent figures suggesting a 1.6% annual increase. Rental prices for a central two-bedroom apartment typically range from €190 to €960 per month, translating to about €6 to €31 per square meter monthly based on location and apartment type. Overall, Kyiv’s housing market is marked by a majority of owner-occupiers, a growing rental sector, and limited but developing social and public housing initiatives responding to the pressures of war and displacement.

Kyiv’s housing crisis is shaped by several converging factors, most notably the ongoing war, internal displacement, and constrained construction activity. The most acute issue is the destruction or damage of at least 2 million homes across Ukraine—about 10% of the national housing stock—since 2022, with Kyiv heavily affected as a destination for displaced populations. This has generated extreme pressure on the city’s already limited housing supply, as Kyiv’s new construction starts fell sharply for the second year in a row: only 2,920 units were initiated in 2024, down from over 12,000 in pre-war 2022. Housing prices have continued to rise: in early 2025, average sale prices for apartments in Kyiv reached around €1,240 to €1,300 per square meter, with a year-on-year increase of roughly 1.6%. Rental demand far exceeds supply, as new rental listings dropped by up to 15% in key districts while tenant demand remains extremely high, resulting in multiple responses per listing and growing competition. Those most affected by Kyiv’s housing crisis include internally displaced persons fleeing conflict zones, low-income households, and vulnerable minorities such as the Roma population, who are at greater risk of housing insecurity or even homelessness. While some homeowners have benefited from rising prices, renters and would-be buyers struggle with affordability, supply shortages, and a market fundamentally transformed by ongoing conflict and migration trends.

Kyiv’s city administration is advancing affordable and sustainable housing through new partnerships, legislative reforms, and targeted programs in response to acute housing shortages and increased vulnerability among displaced populations. The most significant step is Ukraine’s adoption of the new “Basic Housing Policy Framework” in January 2025. This law, developed with UNECE support, aims to modernize the housing sector nationwide, including Kyiv. Its key innovations include establishing affordable housing operators, creating sustainable rental housing stock, and setting up transparent social rental housing funds. The framework also prioritizes digital transformation, ensuring streamlined electronic access to housing services. Implementation will be guided by a new State Housing Strategy—covering the next 5–7 years and emphasizing public-private partnerships, targeted subsidies, and performance monitoring. Kyiv’s local planning will align with these national reforms. Concrete local activities include: - The “eOselia” preferential mortgage program, which allows eligible Kyiv residents, especially internally displaced persons (IDPs), to access low-interest loans for home purchases. - Modular and transitional housing solutions, such as the “Housing for Ukraine” project, which rapidly deploys modular homes for displaced families and is supported by international partners like IOM, KfW, and Habitat for Humanity. - Joint initiatives between Kyiv, the Ukrainian Financial Housing Company, and Habitat for Humanity focus on sustainable finance, housing innovation, and institutional knowledge-sharing. Recent targets include expanding affordable lending to thousands of households and piloting modular housing in Kyiv, with ongoing international fundraising to scale efforts for the war-affected and economically vulnerable.

Housing cooperatives in Kyiv have deep historical roots, with the city once serving as a center of the Ukrainian cooperative movement. Today, housing cooperatives primarily operate as associations of co-owners of multi-apartment buildings (OSBB), managing common property and improving housing services. Their role is more organizational and maintenance-focused than that of developing new cooperative housing stock. Recent years have seen a shift towards supporting OSBBs as the most effective form of housing management, especially after the 2001 law enabling their formation. However, the share of genuine cooperative housing—where new homes are built and owned collectively—is limited and declining, without significant new construction directly under the cooperative model. Reliable data on the current share of cooperative housing in Kyiv are scarce, but cooperative housing represents only a minor portion compared to the broader landscape dominated by individual ownership and private development. The sector’s development is challenged by outdated regulations, limited financial incentives, and the need for modern cooperative management specialists. Ongoing state reforms and strategic documents, such as the Basic Housing Policy Framework of 2025, emphasize creating better conditions for various collaborative housing forms. However, most city and national programs focus on broader affordable housing solutions, like preferential mortgages and modular housing, rather than specifically promoting housing cooperatives as a key growth sector. Thus, while cooperatives play a supportive role in property management, their significance in increasing Kyiv’s current housing stock remains marginal.