REAL ESTATE MARKET IN UKRAINE: TRENDS OF DEVELOPMENT AND CHALLENGES

The paper analyzes the real estate market in Ukraine. The analysis indicates that the market's capacity for manufactured construction products in Ukraine tended to increase in value terms during 2010-2019. However, in 2020, the capacity decreased compared to the previous year. In order to predict the capacity of this market, it is important to identify the determinants that affect its development. A multifactor econometric linear model was used to quantify the impact of various factors on the development of the real estate market of Ukraine. The construction output (residential buildings) in value terms was taken as a resultant factor. Consumer income, housing investment, and divorce rate were taken as factors influencing it. The authors also considered other factors that affect the development of real estate in Ukraine, but they correlated with the above factors. To determine the influence of factors on the construction output, partial coefficients of elasticity were analyzed. Based on the calculations, it was established that the development of the real estate market in Ukraine is primarily affected by an increase in consumer income and investment in housing. Specifically, their growth by 1% may lead to an increase in production output (residential buildings) by 1.008% and 0.248% respectively in the real estate market of Ukraine.