Fixed rental rates for shopping mall stores with an area of 50-200 square meters per year have increased by 1.3% to $22.4 in 2025 from $22.1 in 2024, the UTG press service told Interfax-Ukraine.
“Next year, we can expect a slight increase in rent of 2 to 5%, depending on the region. Further growth in shopping center maintenance costs (OPEX) and mandatory additional costs for uninterrupted power supply will undoubtedly increase the tenant’s overall costs. Currently, there are more significant factors that may influence further increases in rent payments. These include: growing demand among tenants to open stores for network development, a decrease in the supply of high-quality space, and the entry of new operators into Ukraine,” commented UTG Director Yevgeniya Loktionova.
She specified that among the factors stimulating the growth of rates, first of all, is the steady increase in demand for high-quality space from retailers.
According to UTG’s research, as of December 2025, the highest fixed rental rates were for kiosks (1-10 sq. m) – from $70 to $250 per sq. m/month (excluding VAT and EP), for fashion galleries – up to $32, fashion department stores – up to $18, grocery supermarkets, cafes, and restaurants – up to $15. (excluding VAT and EP), fashion galleries – up to $32, fashion department stores – up to $18, grocery supermarkets, cafes, restaurants – up to $15, electronics supermarkets – $8, children’s entertainment centers – $6, movie theaters – up to $6 per sq. m per month.
Overall, the market shows cautiously optimistic trends at the end of 2025. Average daily attendance is growing, although pre-war figures have not yet been restored. For example, the regional format is 680 people per 1,000 sq m GLA in 2025, compared to 660 in 2024 and 760 in 2021. The regional format is 318 in 2025, 308 in 2024, and 407 people per 1,000 sq m GLA in 2021.
As of December 2025, 12.8% of space in the capital’s shopping centers was vacant, compared to 13.1% in 2024 and a de facto vacancy rate of 21.4% at the end of 2022. According to UTG estimates, the temporary closure of the Gulliver shopping center had a minor short-term negative effect, with a de facto vacancy rate of 13%.
In terms of formats, the highest vacancy rate was in regional shopping centers – 14.9%, in district shopping centers – 13.9% of space was vacant, in specialized shopping centers – 10.1%, and in district shopping centers – 6.5%.
UTG was founded in 2001. It has developed over 1,300 real estate concepts. Over the years, the company has leased 4.7 million square meters of commercial space in Ukraine.
