Retail property market to grow 2.5 times in 2011 - expert
2010-12-02 12:05:25
The volume of construction and the amount of leased space in 2011 will increase by 2.5 times compared with the current year. This forecast was voiced by the head of the rental department at the Ukrainian Trade Guild company, Yevhenia Loktionova.
The greatest growth, in her opinion, will happen in the segment of retail real estate. At the same time, she said, it is premature to talk about recovery of the market.
According to observations of the company, the average attendance of shopping centers in the second half of November increased by 1.2%. The average vacancy rate in the metropolitan shopping centers now stands at 2.9%. The average cost of rent in the city has not changed and now stands at $58.3 per square meter including VAT and excluding operating costs.
In addition, as announced by Loktionova, in the course of 2010 rental rates for commercial property rose twice: in early spring and late summer, each time not more than 10-15%. This trend, she said, was typical both for Kyiv and the regions.
According to experts, in January 2011, the rates will slightly fall down, in February they will not change, and rise slightly in March, if nothing unexpected happens.