Construction of new apartments in Kyiv is booming — with 20,700 built in the first six months alone this year, equal to the entire total for 2016, acccording to City Development Solutions, a real estate consulting agency.
But the new supply is outstripping demand, with many units going unsold as residents still lack purchasing power or credit. City utilities, moreover, aren’t keeping pace with the new construction as well.
At the moment, Kyiv has 56,100 unsold flats in 252 new residential complexes. If development continues at the current pace, that number will grow to 70,000.