Office real estate in Kyiv has a high vacancy rate.

According to Colliers Ukraine company, a record number of vacant offices was recorded in Kyiv this year. Before the start of the war, at the end of 2021, the vacancy was almost 12%, at the end of 2022 – 17%, and in the first half of 2023 – 21%.

Some tenants moved to safer western regions or other countries weeks before the full-scale invasion began. In addition, to optimize costs, some companies have decided to move from expensive office centers to cheaper premises as far as possible from the central part of the city.

“In this segment, non-professional offices, there are many offers. And this is observed not only in Kyiv but also in many Ukrainian cities,” experts say. However, the situation is gradually improving.

“More and more companies insist that employees return to work in the office. Therefore, the situation is stabilizing, rental rates have stopped decreasing, and the vacancy rate, although still high, is no longer increasing,” market participants claim.