Where to go on the weekend and on the Day of Defender of Ukraine in Kiev: an action plan for the holidays on October 12-14
A large number of events are planned for three days off. For the fifth year in our country, October 14 is the Day of Defender of Ukraine. In connection with…

Continue reading →

New rules for assessing real estate in Ukraine - what changes the new law of the Rada
The decision of the Verkhovna Rada fundamentally changes the existing system for assessing real estate in Ukraine On November 12, the Verkhovna Rada adopted a law establishing new rules for…

Continue reading →

How to privatize an apartment or a dormitory room in Ukraine for free: list of documents and sample application for housing privatization
The Ministry of Regional Development, Construction and Housing and Communal Services publishes information for those wishing to privatize housing in Ukraine The Ministry of Regional Development of Ukraine has published…

Continue reading →

Do Kyiv need new shopping centers: will there be enough for all visitors

Supply does not yet satisfy demand and rental rates are rising

In the capital, they continue to build and open new shopping centers, both large-scale and small. Do you need such a quantity of shopping and entertainment centers in the capital and what situation in the market did the capital real estate portal 100realty.ua recognize.

Supply does not yet satisfy demand
Today, there are dozens of shopping centers in the capital, but they do not yet satisfy the needs of residents of the capital. In some areas of the city, the offer is limited or shopping centers are already outdated. Therefore, there is a “migration” of Kiev residents to shopping centers located in areas in which they do not live.

In total in the capital there are:

7 regional shopping centers;
26 district shopping centers;
24 microdistrict shopping centers;
18 specialized shopping centers
32 freestanding supermarkets.
The area of ​​all commercial facilities in Kiev is 1,617,672 square meters. m and it is 548.2 square meters. m per 1000 inhabitants.

It is this indicator of shopping center saturation that UTG speaks about. “Given the current level of population incomes, solvent demand is able to ensure successful operation for 1,955,503 square meters. m of rented retail space, ”said Konstantin Oleinik, Head of Strategic Consulting, UTG.

Related article: Renting an office in Kiev: prices are rising, and supply is declining

In Kiev, there is high construction activity and the opening of new shopping centers with a total rentable area of ​​399,365 square meters has been declared for 2019-2020. m

“In the case of the implementation and commissioning of all declared large-scale projects on the market, a surplus of retail space may occur, which will entail a redistribution of consumer flows between objects, an increase in vacancy and a correction in rental rates towards a decrease, especially in obsolete objects with serious conceptual flaws” – says Oleinik.

Kiev shopping centers – infographics
In the meantime, the vacancy rate in the most successful shopping centers is about 1% and the demand from retail is growing. After many years of negotiations, the leading international retailers began to enter the Ukrainian market one after another: in 2018, 22 international brands appeared on the market again or for the first time.

Since the beginning of the year, 2 more brands have appeared, and with the opening of new large-scale shopping and entertainment centers at least 7 more will appear.

Rental rates rise along with demand
The market has low vacancy due to the insignificant volume of new supply in the 1st half of 2019 and demand provokes an increase in rates.

“The average vacancy rate in shopping centers in Kiev amounted to 2.7%. At the same time, the indicator continues to decline. It should be noted that in the best shopping centers there is a shortage of rental space, where the vacancy rate is 0% -1.5%. According to the results of the 1st half of 2019, rental rates in the best malls were in the range of 80-111 dollars / sq.m / month (+ 6.6-16.8% from the beginning of the year). Rates in other shopping centers were $ 44-63 sq. M / month (+ 4.8-5% since the beginning of the year), ”says Radomir Turcan, CBRE Managing Partner.

Related article: Real estate in Kiev: what awaits the market in the fall of 2019

According to Konstantin Oleinik, the increase in rates, in addition to the growth in demand and a decrease in the share of free space, is also due to the stabilization of the exchange rate of the national currency.

“The average market attendance rate at the beginning of July 2019 is 677 people per 1000 square meters. m GLA – in Kiev there is a gradual recovery in consumer activity, ”says Oleynik.

The market is growing and “old-timers” are waiting for reception
According to UTG, in 2019 opened:

Shopping center “Smart Plaza Obolon” ​​(GLA = 11 765 sq. M)
Oasis (GLA = 7,800 sq. M)
“River Mall” (GLA = 62,200 sq. M).
Expected before the end of the year:

Retroville (GLA = 91,864 sq. M)
Blockbuster Mall (GLA = 120,000 m2)
Cherry Mall (GLA = 12,000 sq. M.)
Novus (GLA = 91,864 sq. M.) And a number of smaller projects.
Until the end of 2020 in the capital promise to build 399,365 square meters. m of retail space.

In total, at the various stages of implementation (construction, preparatory work, concept) in the capital and the nearest suburbs there are 44 projects with a total GLA = 1,362,856 sq. m

Shopping centers that have been operating on the market for a long time do not withstand competition and are forced to change the concept, reconstruct buildings and individual premises.

“During the reconstruction of the shopping center, it is imperative to provide for the updating or modernization of the climate system, because the attendance of the shopping center depends on the comfort inside the premises. It should be a modern and reliable system that will not only support all the necessary parameters all year round, but also save on operating costs, ”says Vladimir Stepura, director of Likond, the official distributor of DAIKIN in Ukraine

Living in hotels in Kiev has become more expensive: what will happen next
For the first time in 5 years, a decrease in average market operating indicators was observed in the hotel market of the capital The operational activities of hotels in Kiev…

...

Where to go on the weekend and on the Day of Defender of Ukraine in Kiev: an action plan for the holidays on October 12-14
A large number of events are planned for three days off. For the fifth year in our country, October 14 is the Day of Defender of Ukraine. In connection with…

...

Where to go on the weekend and on the Day of Defender of Ukraine in Kiev: an action plan for the holidays on October 12-14
A large number of events are planned for three days off. For the fifth year in our country, October 14 is the Day of Defender of Ukraine. In connection with…

...

How to buy a new building safely!
Buying apartments in houses that are still under construction, the so-called "new buildings", is quite risky. And in order not to become a victim of fraud, you need to approach…

...