The amount of new office space occupied in Kyiv during the first half of the year fell by 42%

The amount of new office space occupied in Kyiv during the first half of the year fell by 42%, compared to the first half of last year, CBRE Ukraine says in a new study. New office supply totaled 69,000 square meters, slightly more than double the amount for the first half of 2019. Caught between shrunken demand and a jump in vacancy rates to 12.4%, developers may delay the release of some of the 146,000 new square meters planned for the second half of this year. CBRE writes: “Since most new projects in the early stages of construction have been suspended or canceled, the new supply is likely to decrease significantly between 2023-2024.” IT accounts for 29% of new rentals, the largest sector in Kyiv.