Economy 2023-01-15T07:08:01+02:00
Ukrainian news
NAI Ukraine: Vacancy Rate Of Retail Real Estate In Kyiv Up 0.8 Percentage Points To 5.8% In 2018

NAI Ukraine: Vacancy Rate Of Retail Real Estate In Kyiv Up 0.8 Percentage Points To 5.8% In 2018

Kyiv, real estate, shopping mall, shopping center, NAI Ukraine, retail real estate

The NAI Ukraine consulting company states that in 2018, the average vacancy rate of retail real estate in Kyiv increased by 0.8 percentage points to 5.8% year over year.

The company said this in a statement, Ukrainian News Agency reports.

The company explains a slight increase in vacancy by the commissioning of new facilities.

"In 2018, the retail real estate market in Kyiv continued to develop rapidly. During the past year, a number of quality shopping centers were opened, including the largest ones - Rive Gauche (with rental space of 30,000 square meters), Megamarket Nyvky (22,000 square meters) , Retail Park Petrivka (15,000 square meters), Smart Plaza Polytech (15,000 square meters)", the statement reads.

It is noted that by the end of 2018, the total supply of retail space in the capital is represented by 110 objects with a total sales area of ​​over 1.5 million square meters.

At the same time, the increase in supply for the year amounted to about 101,500 square meters.

This year, a number of objects have been announced for opening, the largest of which are Blockbuster Mall shopping mall (1st stage, 100,000 square meters), Ocean Mall shopping center (100,000 square meters), Retroville shopping center (91,254 square meters) and River mall shopping center (61,550 square meters).

Provided that all the declared facilities will be commissioned, an additional 400,000 square meters of rental space will be added to the market.

At the same time, NAI Ukraine experts expect not only a significant increase, but also a qualitative change in the retail real estate market, since powerful facilities are being commissioned and some of them are being built in the format of the dominant shopping centers.

"Such a large number of offers on the market may lead to the appearance of "Dead Malls" - empty, uninteresting for buyers and tenants of the mall. The concept that is common in America may appear in Kyiv due to the fact that such a large number of offers is not needed by the consumer," underlined in the statement.

It is also noted that for the year rental rates in the best shopping facilities increased by 6-10%.

Besides, NAI Ukraine conducted a series of studies that allowed to determine the main characteristics of visitors of the mall in Kyiv.

In particular, more than half of the polled residents of Kyiv spends their free time on a weekend in the mall, on a weekday about 30% of the respondents visit shopping centers.

In this case, the bulk of the expenses are for entertainment and clothing.

There are more women (54%) among mall visitors than men (46%).

The average cost per visit is: for food - UAH 600, for a pair of shoes - UAH 1,300, for jeans - UAH 700.

At the food court, visitors to the mall leave an average of UAH 140 per visit, and UAH 170 are spent on entertainment.

As Ukrainian News Agency earlier reported, the Ukrainian Retail Association states that this year they announced the commissioning of 8 retail properties with a total rental area of ​​over 440,000 square meters in Kyiv, Lviv and Odesa.