The return of foreign brands to Ukraine has provoked an increase in rental rates for retail space by 8-10%.

According to CBRE Ukraine, in 2023 four new retailers entered the Kyiv market – the Italian premium clothing brand EA7, American household electronics brand KitchenAid, Polish clothing brand HalfPrice, and American premium clothing brand DKNY. In addition, Swedish fashion retailer H&M resumed its Ukrainian operations last year.

The share of Ukrainian brands among tenants in shopping centers grew due to consumer loyalty and the temporary closure of international fashion retailers. The average vacancy rate in the Kyiv market was 15% at the end of 2023, and rental rates in shopping centers have strengthened. Landlords are returning to fixed rental prices, and rates based on a percentage of turnover are becoming less common.

Last year, rental rates for the best properties increased by 8% to $40-65 per square meter monthly. Meanwhile, rental rates for other properties increased by an average of 10%, up to $15–33.