LUN Launches Apartment Marketplace as Ukraine Government Signs Legislation for Homebuyers

According to the Kyiv School of Economics, a total of 150,000 multi-apartment and private buildings have been destroyed or damaged since the onset of the war in February 2022—at a total cost of $53.6 billion. Interestingly, Ukrainian housebuilding development projects were at an all-time high at the time of the invasion at approximately 100,000 apartments a year.

In February this year, President Volodymyr Zelensky signed legislation that will supply money for homebuyers affected by the war.

LUN, the operator behind lun.ua, Rieltor.ua and Flatfy, has now launched a new marketplace of apartments where users can choose and compare simultaneously primary and secondary market apartments in one place.

The question is, invest in reconstruction or buy ready-made housing, stay in their hometown or settle in safer places?

Denys Sudilkovskyi, marketing director at LUN, said:

"Before the war, property buyers were quite clearly divided into segments and chose housing mainly in the geography of their residence. The reason for choosing apartments in the buildings under construction was mainly a significantly lower price compared to the cost of ready-made housing.

"Due to the migration of millions of people and the increase in the cost of new construction, this pattern has changed and today buyers can choose simultaneously between investing in a new building in Lviv and buying a ready-made second-hand apartment in their native Dnipro or Kharkiv. LUN is launching a new product to meet the demands of the times.

"In particular, we expect that this solution will allow us to collect data for deeper analysis of supply and demand and the results can be used to optimize estimates for the country's reconstruction."

LUN is a Ukrainian IT company that operates websites and applications for buying and renting property in 10 countries worldwide. LUN is the operator behind Flatfy, and also partnered with competitor Rieltor.ua in April 2022 to help residents find housing after the onset of the war.

Flatfy rehomed itself in London to launch its Birb app. Online Marketplaces spoke to Flatfy's creative lead Vitalii Kapustian last year to discuss Birb and other matters. Watch it below.