| 2016-01-20 | Kyiv office supply hits record low
UKRAINE In 2015, only 40,600 sqm of office space was completed in Kyiv, the lowest result ever, according to JLL. l
The figure is also three times lower than in 2014, when 116,300 sqm was completed. It is expected that in 2016 the new supply will fall by another 12 pct to 35,600 sqm, none of which will be class ‘A’ office space. As JLL’s experts explain, in times of crisis the demand for such office space is very limited. In the past year class ‘A’ offices constituted only 17 pct of the new supply. The vacancy rate on Kyiv’s office market in Q4 2015 reached 24.2 pct – a 3.7 percentage point decrease compared to 2014.