The share of vacant space on the shopping centers market in Kyiv in January-March 2019 fell by 0.2 percentage points, to 2.8%, according to a study of CBRE Ukraine (Kyiv). “Despite the commissioning of new facilities, the average vacancy rate decreased by 0.2 percentage points from the beginning of the year and amounted to 2.8% of vacant premises,” the company said in the study.
According to the company, in January-March this year, rents for the best retail premises increased 7-16% and ranged from $80-110 per sq. m. a month. At the same time for other retail premises, the rates remained unchanged, at around $42-60 per sq. m. a month.
The volume of retail turnover in Kyiv in January-February 2019 (the latest available data) increased 6.9%, with a slowdown in consumer price index growth from 8.8% in February to 8.6% in March.
During this period new brands entered the retail real estate market, including Decathlon in Retail Park Petrivka, Claudie Pierlot and Weill in the shopping center Gulliver and Missha in the shopping center Lavina Mall. A new supply of shopping centers was presented by the Oasis shopping center and the Smart Plaza Obolon shopping center, which led to an increase in the total supply by 2.1%, to 1.13 million sq.m.