Construction Work Volume in Ukraine Increased by 23%: Recovery to Pre-War Levels

According to the State Statistics Service of Ukraine, the volume of completed construction work in 2024 increased by 23.5% compared to 2023, reaching ₴204.7 billion. This figure surpassed the results of 2020, when the volume was ₴202 billion, but still remains below the pre-war level of 2021, when work worth ₴258 billion was completed.

This is reported by AgroReview

The volume of work in the residential sector increased by 16.3%, reaching ₴26.6 billion, while non-residential construction saw a growth of 35.5% to ₴57.7 billion. In engineering construction, the increase was 20%, with the volume reaching ₴120.4 billion. In the structure of new constructions, the share of new construction was 41.1%, repairs accounted for 32.6%, and reconstruction and technical re-equipment made up 26.3%.

State of the Construction Market in Ukraine

Experts indicate that demand in the Ukrainian construction market remains consistently low. If the positive dynamics continue, the Ukrainian construction market may recover to the pre-war level of 2021 in just 4-5 years.

Growth in Commercial Construction

In the commercial construction segment, the largest growth last year was recorded in hotel real estate, where the volume increased by 182%. At the same time, demand in the primary residential real estate market rose by 12%.