Cost of rent in Ukraine and around the world

Reasonable and justified cost of rent is an issue which both the landlords and tenants are most concerned about, as the mood and the tendencies in the market are highly volatile.

Let us take, for instance, the bulk of houses built many years ago — the category that has been the top most wanted accommodation for a long time now. Second hand flats are already ‘set up and launched into use’; they are also, as a rule, located in neighbourhoods with developed infrastructure and — last but not the least — they are less expensive. However, with the latest trends becoming the vogue and as people tend to be more focused on minimalism and functional planning of inner spaces and more inclined towards minimalism and custom design of the interior and exterior, the newly built houses are becoming increasingly popular. The most wanted homes are those situated inside ‘fully equipped’ housing estates or inside already existing housing developments in urban districts not too far from the city centre.

Price Range and Comparison

The 2018 Numbeo index study has shown that Ukraine is in the top three cheapest countries when it comes to the cost of permanent residence — next to Egypt and Pakistan. The calculation was based on the amount paid for utility bills, transit/commutting expenses, and average salary.

In practice, however, the picture is not that simple. As per Numbeo, the average salary in our country is in the vicinity of $260; utility bills (per 80m²/860 square feet) run up to $90 per month; whereas a one-month rent for a one-room flat amounts to $320. It appears therefore that the total cost is half of what people pay in Poland, the country nearest to us. The average Polish salary, though —amounting to about $970 per month — is roughly 3 to 4 times higher than the average salary in Ukraine. To rent a flat in Poland, you will have to spend an average sum of $534.

The sharpest contrast is with France and Sweden: living cost in France is roughly two times ours but the average salary is $2,350 per month. A not-too-dear accommodation not too far from urban centres costs $830/month, plus $165 on top of that for utility bills.

Some things are much, much cheaper in Ukraine — like the Internet access, the urban transit and commuting, and some foodstuffs, including bread, milk, and meat. But that is not enough for a decent offset, as the rent cost is — more often than not — much higher than the average salary nationwide. A rare phenomenon it is indeed, as even in Pakistan, you will have to pay $140/month to rent a flat, with average salary being roughly $250 per month.

The Most Expensive Cities of the World

Every year, analysts put together a rating comparison of top most expensive cities in the world from the standpoint of monthly rent of an apartment. For the most recent three or four years, the top most expensive cities have included

Mexico City, Shanghai, Dubai, London, and San Francisco — you will have to shell out about 55% of your total income to accommodate yourself in these metropoles. Even rougher cases are Hong Kong, Abu Dhabi, and New York City— where the residents are spending roughly 60-70% of their income to pay for their home. The values for São Paulo, Paris, Singapore, Sydney, Chicago, and Boston are around 30-35%. The roughest case at all is Beijing which has been the champion of this rating for many years now: the Beijing residents will have to spend about 120-130% of their average income for accommodation.

As far as Ukraine is concerned, the rental cost varies from city to city, as follows:

• The most expensive flats are those in Kyiv and Odessa;
• Lviv is No. 3;
• next go Kharkiv, Dnipro City, and Poltava — where rent is only slightly lower than in Lviv;
• and the least expensive cities in terms of rent include Chernihiv, Chernivtsi, Kropyvnytskyi, and Mykolaiv by the Black Sea.

Our company Comfort Realty is here to help you find an accommodation in Lviv that will be suitable for you in terms of location, budget, and miscellaneous special requests and demands you might have. We are happy to offer you access to our extensive database of verified landlords and our comprehensive legal services are at your disposal.