RIEL founder: Kyiv apartment sales reached just 35% of August target amid market stagnation

RIEL founder: Kyiv apartment sales reached just 35% of August target amid market stagnation AI

Rostyslav Melnyk, founder of developer RIEL, told LIGA.net that in August the company achieved only 35% of its sales plan in Kyiv. He described a stagnating Kyiv market, said RIEL continues to raise prices despite falling sales, and contrasted Kyiv with steadier Lviv demand. For Kyiv buyers and watchers: a major developer reporting a 65% shortfall in planned sales highlights weaker local demand and may help explain recent price moves.

Rostyslav Melnyk, founder of developer RIEL, told LIGA.net that the company met only 35% of its August sales plan in Kyiv, which he described as a sign of market stagnation. RIEL operates projects in both Kyiv and Lviv and has built more than 100 developments totaling over 1 million square metres.

In Kyiv RIEL’s portfolio includes projects such as GREAT and Nordica Residence, as well as Lvivskyi Kvartal; Melnyk said the situation differs between the two cities. In Lviv the company has not revised its sales plans, while Kyiv performance is lagging behind.

The interview covers why RIEL has been raising prices even as sales fall and discusses risks and how long the market may remain in this state. Readers should consult the full LIGA.net interview for Melnyk’s detailed comments and any timing he gave on price changes.

Know what Kyiv knows.