Rental rates for office space in Kyiv have decreased by 30%.

Rental rates in the capital’s business centers have reduced by 30% since the beginning of the year, UTG reported. Analysts attribute this to a sharp drop in demand for office space, primarily from international companies and the IT segment. This results from 41.28% of the staff of the surveyed IT companies being evacuated abroad or to the west of Ukraine. The largest number of IT specialists left Kyiv (a reduction from 45% to 29% of the all-Ukrainian number of IT specialists), Kharkiv from 13% to 2%, and Odesa from 5% to 3%. Some moved to the Lviv region (an increase from 13% to 18%) or Ivano-Frankivsk and Zakarpattia regions. The biggest share of IT employees will not return to Ukrainian offices in the near future, believes UTG top manager Kostyantyn Oliynyk. As for international companies, their number will decrease by 78% by the end of the year. Rates will continue to decline in the future, predicts UTG.