The first half of 2012 demonstrated a contraction in the volume of vacant warehouse space on the commercial real estate market in Kiev.

ЧИТАТЬ ПОЛНОСТЬЮ

The first half of 2012 demonstrated a contraction in the volume of vacant warehouse space on the commercial real estate market in Kiev. The level of vacancy from 17.1% to 13.8%, according to CB Richard Ellis, an international consulting company in Ukraine. Experts predict a further decrease in the vacancy indicator to 11% by the end of the year.

Demand for warehouse space is growing for the most part thanks to the activity of retail operators. Moreover, only one new warehouse complex -- Schasltivoe Warehouse Complex -- was commissioned in the first half of the year. The total area of the complex equals 23,000 sq m. At the end of 2012 the construction of 3 smaller warehouse properties with a total area of 24,300 sq me should be completed. The trend of lowering volumes of new supply, which has began to form over the past three years, is maintaining. There is good news in all this: Rental rates for warehouse space have remained practically unchanged during the first half of the year, equalling $5.50 to $6.50 per sq m per month, not including operational expenses or VAT.

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