• 02/22/2024

How many years do you need to work to buy your own home: study by region

The real estate marketplace Dim.ria and the job search platform robota.ua presented an analytical study in which they analyzed how much time and in what areas you need to work to buy an apartment in Ukraine.
About the study
As part of the study, analysts analyzed the cost of real estate in regional centers, and also examined the price of housing in the regions of Ukraine without regional centers in accordance with the entire proposal of users and developers.
Experts analyzed the average wages of the five most popular professions and professions with the highest income in the three largest cities of Ukraine according to advertisements as of January 2024.
Experts analyzed the ratio of wages to the cost of housing in the amount of a full monthly salary without deducting the share of expenses.
All study estimates do not take into account possible changes in property values over the years under the influence of economic factors.
Primary market
Regional centers
As of January 2024, the highest average salary is recorded in Kyiv - 23,600 UAH. Accordingly, the average cost of a one-room apartment is UAH 3,299,336. According to these data, the cost of housing is 140 full specialist salaries, which are converted into 12 years.

In Lviv, the period for purchasing one-room housing, based on the average salary, is 11 years, and in Dnipro - 10 years.

Regions without regional centers
A study of the relationship between average income and housing costs in the regions, excluding regional centers, shows that the leaders among real estate prices are Ivano-Frankivsk, Transcarpathian and Cherkassy regions.

The average price of a one-room apartment in the Ivano-Frankivsk region is UAH 1,839,190, and the salary is UAH 17,848. Accordingly, to purchase an apartment, 103 full salaries are required, which is 9 years. In the Transcarpathian and Cherkasy regions it takes 8 years to purchase housing in a new building. The shortest period for purchase was recorded in the Chernihiv region - 5 years.

Secondary market
Regional centers
Kyiv, Lviv and Uzhgorod have the highest average price for a one-room apartment. In the capital, it takes 11 years of accumulating an average monthly salary to purchase an apartment worth UAH 3,070,637. In Lviv, this requires 10 years, in Vinnitsa and Uzhgorod - 9 years.

Regions without regional centers
Among the leaders in terms of the duration of accumulation of funds for the purchase of a one-room apartment on the secondary market, according to the average salary, are also Ivano-Frankivsk, Transcarpathian and Cherkasy regions.

In the Ivano-Frankivsk region, the price of housing is 2,337,188 UAH, and the average income is 17,848 UAH. The accumulation period is 11 years. In the Kirovograd region, you can purchase an apartment on the secondary market in the shortest possible time - 2 years.
The most popular professions and comparison of their income to the cost of an apartment
As part of the study, analysts compiled a list of professions with the largest number of vacancies in Kyiv, Lviv and Dnipro.
A sales consultant in the capital will save up for an apartment on the secondary market in 16 years, and on the primary market in 18 years. In Lviv, such a specialist needs 15 years to purchase a home.
A driver in Lviv with an average salary of 26,500 UAH will need 8 years. And the same specialist in Dnepr needs 5 years to purchase housing on the secondary market and 7 years on the primary market.

What professions to choose to quickly buy an apartment
Analytical centers collected information about vacancies with the highest salaries in the three largest cities of Ukraine.
A technical team leader with an income of 78,880 UAH in Kyiv needs to save for about 4 years for an apartment in a new building and 3 years for an apartment in the secondary market. In Lviv, the average salary of this specialist is UAH 73,753, which is converted into 2 years of purchasing housing on the secondary market and 4 years on the primary market.
Among the list of non-technical professions is the vacancy of Chief Marketing Officer (CMO), the income of which is equivalent to 4 years for the purchase of an apartment in Kyiv and Lviv.
Java developer has the highest average salary in Kyiv, Dnipro and Lviv.

Let us remind you that according to OpenDatabot, in 2023, Ukrainians purchased 1.7 times more real estate compared to the previous year. However, this is still 1.6 times less than before the start of a full-scale invasion.
The National Bank of Ukraine previously reported that Ukrainian banks issued 6,114 mortgage loans in 2023 for a total of UAH 9.1 billion. The volume of mortgage loans provided to the population in 2023 increased almost fivefold compared to the previous year, and the number of transactions tripled.