Amid growing new supply the share of vacant space on the office real estate market in Kyi grew by 4.2 percentage points (pp) in 2019 compared with 2018, to 8.5%, CBRE Ukraine consulting company (Kyiv) has said in a press release. “The highest vacancy rate was recorded in areas with a non-center location (19.2%), due to the Sigma and Wave Tower business centers went live in 2019, which remained unfilled by the end of the year. The Pechersky district had the lowest vacancy rate (2.7%), where in 2019 new areas were not presented to the market,” the report says.
According to the experts, the rental rate for the best office premises increased 8% and by the end of the year amounted to $27 per sq. m. a month, which is associated with a limited supply of quality space.
“In the available class A office space, the declared rental rates varied in the range of $26- $45 per sq. m a month in the fourth quarter, and class B rental rates ranged $14- $30 per sq. m. a month. The significant gap between the lower and upper limits of the range is due to the characteristics of the rental space and the location of an office center, which are the main factors determining the high level of rental rates,” CBRE Ukraine said.
