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Retail Market Outlook, Q1 2015

No new supply entered the market in Q1 2015.

In Q1 2015 demand remained low. In Q1 2015 wages and retail turnover real growth both in Ukraine and in Kiev felt. New retailers remained cautious entering the Ukrainian market.

In Q1 2015 vacancy rate increased by 120 bps and reached 9.2%.

In Q1 2015 prime base rent declined by 12.5% and amounted to USD840sq m/ year (excluding VAT and OPEX).

The practice of renegotiation of rental rates agreements between landlords and tenants remained strong due to the high national currency volatility and low demand for retail spaces.

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