Demand for office space in Kyiv in Q2, 2012 almost four-fold up from Q1, 2012
13:00
An invigoration of demand for offices was seen in Kyiv in April-June 2012, and the total amount of purchased and leased office space reached 24,100 square meters, which is almost four times up on the first quarter, reads a press release of Jones Lang LaSalle (JLL).
According to JLL, the largest transactions on the office market were signed by Samsung (15,000 square meters), Monsanto (1,174 sq m) and Soft Team (690 sq m).
“The segment of office space in Kyiv still remains ‘a market for tenants.’ Due to the high rate of commissioning of new offices, the share of vacant space is growing, due to which potential tenants can easily choose an office based on their requirements for location and the specifications of a building. This, in conjunction with stable rate rents, the maximum level of which stopped at $420 per sq m annually, creates favorable market conditions for the development of companies, which would positively influence their activity in the short term,” the press service said, citing Andriy Zhamkin, the head of the department on work with the owners of office space at Jones Lang LaSalle Ukraine.
Most premises rented in the second quarter were A class offices, which entailed a reduction in the share of vacant space in the segment from 21.9% to 19%. Along with this, due to the growing supply of B class offices, the level of vacancy was up from 13.8% to 15.8%.
In general, in January-June the supply of office space in Kyiv increased by 96,400 square meters, which is two times more than in the first half of last year. A total of 11 high-quality business centers were put in operation, the largest of which are Toronto-Kyiv (30,000 sq m), Europe (19,000 sq m) and Crystal (10,000 sq m).
Thus, the overall increase in the supply of office space in Kyiv was 7%.
25.07.2012
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