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Home»Blog»Analysis of lease rates Kyiv commercial property market 2019 Summary

Lease rates

The level of average weighted lease rates for office premises in Kyiv in 2019 showed an upward trend in all the classes:

Class А — 5.2%, Class В+ — 7.1%, В — 0.3% and Class С — 14.1% as compared with 2018.

The increase in rates was greatly influenced by the "washout" from the market of high-quality Class A and Class B+ offices located in downtown Kyiv and in areas adjacent to the city center, whose vacancy level was decreasing fast throughout the year, causing a price surge.

The maximum base lease rate of $35-40 per sq.m. is offered in Class A facilities for renovated and furnished premises.

The minimum base lease rate in Class A is at $20 – when shell&core premises are being leased out.

The highest lease rates in Class B+ and Class B business centers were offered in facilities located in the central business area.

The average weighted lease rate of Class B grew by only 0.3% as compared with 2018 due to entry into the market of new facilities located in uptown areas and due to the lease rates of facilities located in uptown areas, whose parameters and location do not fit the growing demand parameters.

In 2020, we will see a 5-7% growth in the lease rates for premises having better characteristics.

 

 

 

Vacancy level rise in the business centers of class "B " and "B+" is due to:

commissioning (toward the end of the year) of new facilities of this class, the total area of which amounted to 64 thousand sq.m in the class B segment and 14,2 thousand sq.m in B +.

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