Colliers Predict Vacancy Decreasing

According to Colliers Ukraine, they are expecting shopping centers vacancy at 10-15% level. And this is regarding Kiev. Just 1 year ago it has been unbelievable. And with it, rent rates in UAH will fall up to 30% during next 12 month.

Of course this situation is very painful for developers, particularly loaded with loans. I will not be surprised id some of them , will get bank owners. But it could an instrument for retailers for cut cost and prices, what in current situation can be only one solution for keeping sales.

Today I've seen forecast for retail turnover for 2009. These figures are terrible: we have to expect downfall either 35% or even 50% respectively if the economy won't wake up. I'm not sure in that deadly scenario, because significant part of households income is hidden for statistic. But this fall will be significant one, no way.