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Kiev Office Market Overview, Q4 2015

• In Q4 2015 only 4,500 sq m of quality office space entered the market. In total for 2015 40,600 sq m were commissioned, which is a record low. The announced supply in 2016 is by 12% lower than it was commissioned in 2015.
• At the end of Q4 2015 the vacancy rate amounted 24.2%, which is by 370 bps less than at the end of Q4 2014 and by 270 bps less than in Q3 2015. Quarterly vacancy rate decline was noticed in all Classes. Thus, in Q4 2015 Class A vacancy rate decreased by 380 bps and in Class B - by 240 bps.
• In Q4 2015 the net absorption in Kiev was 3.8x higher than in Q3 2015 and amounted 47,300 sq m. In 2015 the net absorption in the Kiev office market reached around 91,000 sq m mostly due to the positive dynamics in the last quarter.
• In Q4 2015 the prime base rent stood stable and amounted USD350 sq m/year (USD29sq m/month).​

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