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12:06
AROUND 71% OF WAREHOUSE LEASERS IN KYIV CITY AND REGION NOT TO PLAN TO EXPAND SPACE BY LATE 2009, SAYS STUDY

Kyiv, August 4 (Interfax-Ukraine) – Around 71% of leasers do not plan to expand the leasing of warehouses in Kyiv and Kyiv region by the end of 2009, while the remaining leasers plan to expand them, reads a press release of Colliers International consulting company in Ukraine, referring to an April-July survey of the market.

The survey says that rent rates for warehouses were cut in U.S. dollars by 25% on average compared to the pre-crisis figures.

The company said that under existing leasing agreements, 88% of respondents pay in hryvnias, and 12% pay in dollars.

The landlords say that the premises of up to 4,000 square meters are in great demand among leasers, and premises of over 15,000 square meters in less demand.

"Leasers are more optimistic regarding how long the crisis will last compared to landlords. The former say that the crisis could continue for one or two years, while the latter say it will continue for two or three years," reads the report.

Colliers International provides services in the sphere of commercial real estate. It unites over 11,000 specialists, working in 300 offices in 60 countries.

Colliers International's representative office in Ukraine was established in Kyiv in 1997.

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