The maximum rental rates in shopping centers in Kyiv in the second quarter of 2018 grew by 12% and exceeded $95 per square meter a month, which is comparable to the rent rates in the pre-crisis period of 2010-2013, the press service of Jones Lang LaSalle consulting company (JLL) in Ukraine has said. “The maximum rental rates have almost reached the pre-crisis level of 2010-2013. The significant increase is due to a limited supply. New brands are trying to open their stores in the most successful facilities, however, it is not easy to find necessary space in such shopping centers,” JLL Retail Space Department Manager Yekateryna Vesna said.
According to JLL, four new international brands (Turkish Koton and DeFacto, Spanish Zara Home, Swedish Livly) entered the Kyiv market during this period, while a number of operators expanded their network (Under Armor, Lush, L’Occitane, Reserved). At the same time, with such an increase in demand, the new supply amounted to only 15,000 square meters (the Smart Plaza Polytech shopping center).
The share of vacant space in the second quarter decreased by 0.3 percentage points in comparison with the first quarter, to 4.2%. According to the forecast of JLL analysts, in the second half of the year the vacancy will continue to decrease and by the end of the year will reach 3.5%. Jones Lang LaSalle provides financial and comprehensive professional services in the field of real estate.
