Research by CBRE Ukraine for the second half of 2024 indicates that retail turnover in Ukraine has increased by 13% year-on-year. However, consumers continue to face a challenging economic situation, and cost-saving measures are hindering a full recovery in spending.
This is reported by Business • Media
The retail sentiment index reached 29.8 points in December, the highest level since the onset of the full-scale war. Nevertheless, no new shopping centers entered the Kyiv market in 2024, and the total competitive supply of shopping and entertainment centers (SEC) remained at 1.59 million square meters. Thus, the volume of new supply has reached a ten-year low, indicating the lowest level of shopping center development in the past decade.
Prospects for the Retail Real Estate Market
Currently, the only major project planned to open in 2025 is the Ocean Mall SEC. It is anticipated that the retail real estate market may transition to a more active phase of recovery in 2025. Retail turnover is likely to continue growing; however, inflation, limited purchasing power, and prolonged uncertainty regarding the security situation continue to exert pressure on the market, limiting the pace of recovery.