The real estate market in Ukraine has stabilised itself in the last few years after a decade of economic stagnation. Reforms that should have taken place a lot earlier are only beginning to have effects now, but this is favourable for the off plan investor – the country is a lot more stable than it has been since it gained independence. Markets in larger cities such as Kiev, Odessa and Lviv have seen constant growth since the early 90s, but the late ‘catch up’ of Crimean regions should not be ignored, with the city of Yalta now home to a more valuable property market than the capital itself.

The Orange Revolution of 2004 has seen Ukraine on a more European-leaning path, as well as being the cause of a number of economic and social reforms in the country – including a number within real estate law. This more positive role for the country is certain to have a strengthening effect on the economy, and the possibility of Ukrainian entry to the EU – whilst it wouldn’t happen for quite a long while – would mean the country would end up even more stable economically.

Property prices are still more than reasonable, even in Kiev and Yalta, and Ukraine is a beautiful country full of friendly people. Whilst economic stability is by no means a certainty, things are definitely looking up and the country has experienced growth over the last few years – the first in quite a while. The impetus placed on foreign investment along with the relative simplicity for an off plan investor to purchase property shows that this is certainly a country that shouldn’t be ignored.