Top manager of Dragon Capital Property Management Dmytro Kalinichev said that in 2024 rental rates for warehouse real estate in Ukraine increased significantly – and in dollar terms reached the level of $4.9 per square meter per month (without VAT and operating costs) for quality premises. Rates have reason to grow further. “In general, the warehouse market in Kyiv has risen in price by 20-25% compared to 2023. This is because there remains a shortage of class-A warehouses. Secondly, maintenance costs have increased (all services have become more expensive). Rental rates are also affected by national currency devaluation,” Kalinichev emphasized. In addition to Kyiv, which continues to hold the position of Ukraine’s main logistics hub, Lviv, Dnipro, and Odesa, where demand has increased after the restoration of maritime logistics, remain important warehouse strongholds.
Warehouse rents have increased by 25% during the year due to a shortage of space and the hryvnia’s devaluation.
Kyiv commissioned 23,400 sq m of warehouse capacity this year, and another 205,000 sq m will be added.