Kyiv and Lviv lead Ukraine’s five largest cities for rising office space costs. During the first half of this year, the purchase price of Kyiv office real estate increased by 18.4% yoy, $2,269 per square meter – more than double the national average of 8.4%. Office rents increased by 13.3% in Kyiv, to $18.7 per square meter.
With e-commerce booming, warehouse prices grew at double digits in Lviv, Kyiv and Dnipro. Sales prices for warehouses grew by 40% yoy in Lviv, by 31% in Kyiv, and by 27% in Dnipro.
Up to 32 new business centers will open in Kyiv by the end of next year. The leasable area adds up to 670,000 square meters – almost one third of existing office space in Kyiv. Outdated shopping centers, hotel complexes, enterprises and factories are being reconstructed into office real estate. IT is the main driver of the expansion real estate analysts say.