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Rental Property in Odessa

Odessa Rental Property Report

We have found that the purchase of rental property in the city's historical center is particularly profitable. Below is a comparison chart of rental prices to that of the local hotels here in Odessa. Please note many of the hotel rooms offered below do not have anywhere near the amenities that standard rental units offer. If the comparison were made to hotel rooms of similar sizes and amenities then the hotel room prices listed would be much higher than what it is shown in the graph below:

Our Rental Unit Prices vs. Hotel Room Prices in Odessa, Ukraine (July 2006)

In addition our rental properties experience a high rate of occupancy through out the year. Most tourist and business travelers prefer to rent a private apartment than to stay in a hotel room. Rental properties can be equipped with all the comforts of home including full size kitchens with modern appliances, washing machines, air conditionings, cable or satellite television, DVD players, music centers, security systems, modern phone lines with Internet capabilities and Western styling. Even with all of these amenities it is still possible to rentals prices substantially less than local hotel rates.

Comparing Odessa to Kiev:

The country's capital city of Kiev has experienced remarkable growth over the last few years. It has been well documented that real estate investors there have enjoyed double digit yearly returns. We have experience the same returns here in Odessa. We believe real estate investments in Odessa will have more of upside than Kiev for the following reasons:

  • Current real estates prices in Odessa are significantly lower than in Kiev.
  • Government trade reforms will greatly increase cargo and cash flow through the port of Odessa.
  • Increase in port activity will attract more foreign businesses to Odessa.
  • The repeal of the visa requirement for Western tourists will greatly increase tourism.
  • To date most foreign real estate investor in Ukraine have focused on Kiev while Odessa's great profit potential has been somewhat overlooked.
  • Currently there is a shortage of accommodations for the ever growing amount of tourists and businessmen coming to Odessa.

Conversion of "Communas" property to Rental Properties:

In Soviet times many residents live in what they called "Communas". Communas are common living quarters shared by many families with common kitchen and bathroom areas. These communas still exist today, however, in the historical center of Odessa only but a few remain. These communas represent excellent investment opportunities.

Listing of Properties in the Historical Center of Odessa suitable for Rental Property

Click on the Map Below to View Your Next Property of Interest
Gogolya St. near the intersection with Gavannaya St.
City Park near Deribasovskaya Lanzheronovskaya, 200 meters from the Opera House
Deribasovskaya St, near the intersection with Reshilievskaya St
Deribasovskaya St, near the intersection with Reshilievskaya St on the 4th Floor Corner of Deribasovskaya St. and Polskaya St.
Corner of Grecheskaya St. and Kanatnaya St.
Pushkinskaya St, near the intersection with Grecheskaya St

Summary of Rental Property in Odessa Historical Center

2nd and 3rd Floors on the corner of Deribasovskaya St. and Polskaya St. ($2,500/m2)

  • Each Floor is 277m2
  • Total space available 554m2
  • Price per floor: $692,500 (Each floor may be purchased separate.)
  • Total price for both floors: $1,385,000

2nd and 3rd Floors on Deribasovskaya St. near Reshilievskaya St. ($2500/m2)

  • Each Floor is 233m2
  • Total space available 466m2
  • Price per floor: $582,500 (Each floor may be purchased separate.)
  • Total price for both floors: $1,165,000

4th Floor on Deribasovskaya St. near Reshilievskaya ($2,300/m2)

  • Total Area: 196m2
  • Total price: $450,800

2nd and 3rd Floors on Pushkinskaya St. near Grecheskaya St. ($2,500/m2)

  • Each Floor is 370m2
  • Total space available 740m2
  • Price per floor: $925,000 (Each floor may be purchased separate.)
  • Total price for both floors: $1,850,000

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Reasons to Invest in Odessa

  • Largest Seaport in Ukraine
  • 2nd Largest Tourist City
  • 3rd Largest City
  • Pleasant Climate: Over 290 sunny days per year
  • Shortage of business & tourist accommodations
  • Trade reforms will increase port volume
  • Removal of visa requirement will increase tourism
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