According to a study conducted by CBRE Ukraine, as of 2024, the vacancy rate in Kyiv's business centers has decreased by 2.7%, reaching 22%. This marks the first significant annual improvement in office space occupancy since 2021. The majority of vacant premises are concentrated in new or lower-quality properties, mostly located outside the central business district. At the same time, the class B office segment demonstrated a significant decrease in vacancy to 22.1% due to tenant relocation from non-professional premises.

The rental market continues to develop due to small transactions (200-500 sq. m), while large transactions exceeding 4,000 sq. m remain rare. The main tenants are companies in the IT and telecommunications sector (25%), as well as the public sector (15%).

In 2024, new business centers were commissioned in Kyiv, increasing the total supply by 34,000 sq. m, and the total competitive office space reached 2.26 million sq. m. However, the pace of new space introduction has significantly slowed due to security risks, rising construction costs, and limited access to financing.

Throughout 2024, rental rates remained stable: the effective prime rate was $19/sq. m/month, rental rates for class A properties ranged from $16-22/sq. m/month, and for class B – $8-15/sq. m/month. Overall, landlords are demonstrating a more realistic approach to pricing, which positively impacts the market.

It is expected that in 2025, the positive dynamics of rental activity will continue, especially for high-quality office spaces with shelters. At the same time, offices that do not meet modern safety requirements may face further occupancy challenges.