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Office real estate in Kharkov — the prospects of the segment

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11.02.2020

Kharkov — a modern metropolis of Ukraine with developed infrastructure and high business activity with offices of the TOP-10 IT companies of the country. The Department of strategic consulting company UTG analyzed the market of office real estate of Kharkov. According to the experts of UTG, as of today, downtown is experiencing an acute shortage of modern business centers of class "A" share in the supply structure by area, is about 5%.

At the beginning of 2020, the city operates 90 business centres, with a total area of 479 452 m2: 3 - belong to the class "A" (total area 24 360 m2), 35 objects In (200 312 m2) and 52 of the object "C" (254 780 m2). The supply of quality office space class "A" and "b" in the market of office real estate of Kharkov is 224 672 m2, which is about 47% of the total supply. Also market offer complementary facilities in the administrative buildings of the industrial enterprises of the city. Security professional office space corresponds to the index of 155.6 m2 per 1000 inhabitants.

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Over the last 5 years in Kharkov was commissioned only 10 000 m2 of office premises of class "b". "Such a low volume of commissioning of new supply of office space and increased activity by tenants IT companies leads to a decrease in vacancy rates in the professional business center and makes this segment is promising for the development", - said a senior analyst at UTG Oksana Gavrilovic. According to her, as of today, the average vacancy rate in business centres of Kharkiv was 4.8%. Against this background, there is a gradual increase in rental rates. Today for a class "A" rental fee of 1 m2 without VAT, OPEX and BOMA is 300-500 UAH or $ 12,5-20,9, "In" - 240-350 UAH or $ 10-14,6.

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According to analysts UTG, the demand for modern office space stimulates real estate development activity in Kharkov. Earlier this year, in various stages of construction readiness in the city there are 12 projects with a total GLA 127 200 m2. Out of the total of the current office of the Fund this promising proposal is 26.5%. All the projects announced to open in 2020-2021 gg

Source: utgcompany.com

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