Hello everyone. This is Sean, CEO of Vestor.Estate. I’m excited to share my second Kyiv real estate update since returning to Ukraine for my second trip since the war started.
Observations on the Situation
It’s a beautiful day in mid-August, about 80 degrees or high 20s Celsius. Upon returning, my first impression is that it’s much more lively than it was just a few weeks ago. There’s traffic again, which is a good sign of things returning to normal. The Golden Gate area feels like a totally normal day. I can sense that the locals are starting to resume their daily lives, and business is picking up. Even with the curfew at 11 and the restrictions on alcohol sales, the bars are still full until 10:30, which is a great sign of people wanting to enjoy their time out.
Updates on Business
Regarding the work front, we still face challenges in the sales sphere as no one is lowering their prices. However, on the rental side, Kyiv real estate progress with daily offers coming in from various organizations and companies like UNICEF, Red Cross, and embassies. We manage several properties for them and receive multiple requests for properties with 6, 8, or even 12 places. This is a great boost for our management, and our budget looks decent, which is a positive sign for our owners.
Outlook for the Future
Overall, business is returning to life, and although prices are still down for now, we believe they will start creeping back up as supply and demand come back into balance. I am optimistic about the future and believe things will continue to improve. We are watching the news and seeing some positive signs, which only adds to our optimism. We’ll continue to stay in touch and share Kyiv real estate updates in the near future.
