The main characteristic of the first quarter of 2019 in the office market was the relative stability in the trends that emerged in 2018: a slight increase in rental rates, demand, especially for large consolidated quality areas and, as a result, a decrease in vacancy. Tenants are exhausting the opportunities offered by the market. Developers react - they finish building, put into operation new objects, develop modern projects.
Offer in the office market
The market volume for the current period was:
462 professional business centers with a rental area of 3.518 million square meters
In 1 square. In 2019, 2 office buildings with a total leasable area of 18.9 thousand square meters were commissioned. m ("Maidan Plaza" class "A" Khreshchatyk str. 16, GLA - 15.5 thousand sq. m "Baggoutovsky" class "B" on Baggoutovskaya str. 17-19 area of 2.9 thousand sq. m
Demand for business centers
The leaders in terms of popularity among tenants are the following business centers: Leonardo, Senator, Astarta, IQ, Ilyinsky, Toronto-Kiev, Domino, West Side, UNIT.City Innovation Park.
Based on the characteristics of the location of the most popular office rent in Pechersk district, Shevchenko, Podolsky and Goloseevsky. Among the characteristics of the location: rent in the center, 5-15 minutes walking distance from the metro station, rooms with repairs, offices in the historic center. An important feature in the formation of demand is also the presence of a large parking lot, excellent species characteristics, modern engineering systems.
The vacancy rate for classes 1 square. 2018 and 1 square. 2019
Rental rates in the office market
The weighted average base rental rates for object classes for Q1.2019 were as follows:
$ 24 for 1 square. m. on the premises of class "A", the prices for offices of class "B +" and "B" were $ 22.2 and $ 15, 5, respectively.
By the end of the year, a slight increase in rates is projected at the level of 5-10%. The growth rate of rental rates in the office real estate market is currently more situational in nature and depends on the location of the office building, its quality level (level of decoration of public areas, architecture, engineering systems, service provided by the management company), prestige and vacancy rate of the premises.