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Kiev Office Market Overview, Q1 2015

New office completions in Q1 2015 amounted 2,000 sq m.

The vacancy rate in Q1 2015 decreased slightly and amounted 27.1%.

In Q1 2015 the prime base rent fell to USD350 sq m/year (USD29sq m/month).

In Q1 2015 take-up amounted 26,900 sq m which is 17% less than for the corresponding period in 2014. Most of the executed deals were renegotiations, renewals or relocations.

Due to the high national currency volatility, the practice of individual renegotiation of rental rate agreements between landlords and tenants appeared in the market.

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