In Kyiv, over the past year, fixed rental rates for stores ranging from 50 to 200 square meters in shopping and entertainment centers have increased by 1.3%, reaching $22.4 per square meter per month by the end of 2025. Analysts predict that in 2026, rental prices may rise by another 2–5% depending on the region, while the costs of maintaining shopping malls will also continue to increase.
This is reported by Finway
Demand for Quality Spaces and New Operators Impact the Market
Experts identify the development of retail chains and the entry of new players into the Ukrainian market as the main factors driving the increase in rental rates. At the same time, a key driver remains the steady growth in demand for quality retail spaces in large cities.
Market Dynamics and the Opening of New Shopping Malls
As of December 2025, the retail real estate market maintains a positive trend: foot traffic in shopping malls is gradually increasing, and the vacancy rate in the capital’s centers has decreased to 12.8%, which is an improvement compared to 13.1% last year and 21.4% at the end of 2022.
Notably, the Retail Well-Being Index (RWBI) increased by 0.1 points in November 2025 compared to October, reaching 27.9 points. Thus, the RWBI has shown growth for the third consecutive month.
Despite the challenging security situation, massive shelling, and energy difficulties, Ukraine’s retail real estate is showing development.
Throughout 2025, nine new shopping and entertainment centers opened in Ukraine, along with an additional phase of a previously built facility. In addition, several small shopping centers were put into operation in various regions—from Kyiv and the Kyiv region to Odesa, Zakarpattia, Lviv, Zhytomyr, Bukovina, Ivano-Frankivsk, and Rivne regions.