The scale of the destruction suffered by Ukraine as a result of the war is difficult to comprehend. The housing stock has been severely damaged, with Ernst & Young's research indicating that the scale of damage to Ukrainian real estate exceeds the volume of all new housing commissioned over the past seven years. No wonder that speaking about the Ukraine Recovery Program, Prime Minister Denys Shmyhal noted that it will be the largest reconstruction project since World War II. The Ukrainian Real Estate Club and Property Times summarised what is known about the program in an article prepared for Property Forum.

The full-scale invasion of Ukraine has led to huge destruction, the volume of construction waste has reached a critical level and continues to increase. Iryna Nastych summarised the situation in an article prepared by the Ukrainian Real Estate Club for Property Forum.

Ukraine’s logistics real estate segment has suffered significant losses and destruction since the beginning of the full-scale invasion. Russia targeted warehouses and about 500 thousand square meters of warehouse space was destroyed during the attack on the capital in the Kyiv region. Iryna Nastych summarised the situation in an article prepared by the Ukrainian Real Estate Club for Property Forum.

Sergii Stoliarchuk has joined the immo lab team as Business Development Ukraine. He is responsible for cooperation with Ukrainian real estate companies in Poland.

Property Forum is proud to be partnering with Ukrainian-British exhibition company "Premier Expo" to join its ReBuild Ukraine trade exhibition and conference, which intends to help Ukrainian communities affected by the war to restore a normal life, as an information partner. The event will be held in Warsaw, Poland on 15-16 February 2023.

The EECFA 2022 Winter Construction Forecast Report has been released and yet another downward revision characterizes the forecast for both Southeast Europe and Eastern Europe. Southeast Europe could see shrinkage on the horizon. This, however, comes after a great period of construction between 2016 and 2021, so the market is foreseen to come down from a peak level. In this respect, the 3% decline until 2024 is no drama, in EECFA’s view. The drama is in East Europe where the peak was reached in 2018 and the market was around 10% below that peak level even before the Ukraine war began. Since then, EECFA has paused issuing forecasts in Ukraine and a status report has been prepared. Without Ukraine, the region is expected to reach its bottom in 2023.

With over 20 million sqm of residential and commercial space destroyed across Ukraine during the past seven months of Russia’s full-scale invasion, the country will need to be rebuilt on a large scale. It creates attractive opportunities for property developers and investors but also requires the proper planning and legal framework to ensure that the new urban environment across Ukraine is liveable, financially viable, and safe to invest in. The consequences of the Russia-inflicted war in Ukraine for the real estate sector was one of the central topics discussed at Expo Real on 4-6 October 2022 in Munich.

According to CBRE Ukraine, the warehouse and logistics segment demonstrated higher resilience than the rest of the commercial real estate market against the backdrop of military aggression in Ukraine. However, it suffered large-scale destruction from rocket attacks on Kyiv and the Kyiv region. Iryna Nastych summarised the situation in an article prepared by the Ukrainian Real Estate Club for Property Forum.

In 2022, Ukraine will participate in Expo Real for the first time. The event will host a pavilion with an area of ​​132 sqm dedicated to Rebuilding Ukraine. The organizing partner of the stand is Invest in Projects, a global promoter of the Ukrainian real estate industry.

As of summer 2022, leasing activity in the Kyiv office market was near a standstill and primarily driven by office optimization, as well as lease renewals and renegotiations of existing leases, according to the latest research of CBRE Ukraine. Whereas, as of the beginning of June, we observed a slight recovery in the level of office occupancy by employees who continued to work or who returned to Kyiv. Thus, typical office attendance among corporate occupiers was ca. 10% with many tenants in IT, high tech & telecommunications, healthcare and pharmaceuticals, agriculture, FMCG and industrial sectors planning to increase occupancy to 15%.