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Kyiv \u2013 October <\/strong>2<\/strong>8, 2026<\/strong> \u2013<\/strong> According to the latest research of EXPANDIA, Country Service Partner for CBRE in Ukraine and Moldova and the largest commercial real estate company in Ukraine, during the first eight months of 2026, a relatively positive H1 was followed by an exceptionally challenging July\u2013August period as attacks on logistics infrastructure intensified.<\/p>\n By the end of August 2026, take-up reached approximately 180,000 sqm (+6% y-o-y), extending the strong momentum recorded in 2025. While organic demand was more evident in Q1\u2013Q2 2026, activity in July\u2013August became increasingly driven by relocations. As a result, war-related displacement shaped leasing activity, with relocations and relocation-driven expansions accounting for 82% of deals, versus 18% for pure expansions.<\/p>\n Leasing activity remained concentrated among Logistics & 3PL operators (42%), Wholesale & Retail Trade companies (38%), and FMCG companies (20%). Heightened security risks continued to influence occupier strategies, with larger companies increasingly diversifying inventories across western Ukraine to strengthen business continuity.<\/p>\n During 2026, the Kyiv warehouse market experienced an unprecedented contraction in professional stock amid intensified missile attacks on warehouses. The contraction occurred despite substantial development activity, with around 150,000 sqm of new supply delivered in H1 2026 (+28% y-o-y).<\/p>\n By the end of June, competitive stock had fully recovered to approximately 1.6 million sqm, its pre-war 2021 level. However, subsequent destruction reversed this recovery, reducing competitive stock to approximately 1.05 million sqm by the end of August (\u201334% YTD). New development increasingly served to replace the lost stock rather than increase supply.<\/p>\n Source: EXPANDIA, 2026<\/em><\/p>\n The extensive loss of warehouse stock pushed market availability to a critical minimum, as damaged and destroyed properties were physically removed from the stock. Moreover, displaced occupiers generated additional requirements for replacement space. As a result, vacancy fell to a technical minimum of below 1% by the end of August 2026 (\u20132.5 pp YTD), leaving virtually no immediately available modern warehouse space. The shortage of high-quality warehouses was particularly acute in multi-temperature segments, where supply had already been historically limited.<\/p>\n Source: EXPANDIA, 2026\u00a0<\/em><\/p>\n Rental growth accelerated in 2026 amid tightening availability and substantial losses of warehouse stock. Prime effective rent for ambient warehouses increased by 8% YTD to $5.7\/sqm\/month as of August 2026, net of VAT and OPEX. Leasing transactions remained predominantly UAH-denominated, although USD-denominated deals became more frequent.<\/p>\n Nataliia Sokyrko, Head of Industrial & Logistics Brokerage<\/strong>, <\/strong>EXPANDIA:<\/strong><\/p>\n \u201cKyiv warehouse market is expected to remain in a period of recalibration through the remainder of 2026 following the unprecedented loss of stock. The full impact on occupier and developer strategies is still unfolding, making the near-term market trajectory unusually difficult to predict. We expect occupier demand to remain strong due to replacement requirements and underlying demand from core occupier groups; however, critically low availability is likely to constrain actual take-up.<\/em><\/p>\n![\"\"](\"https:\/\/eba.com.ua\/wp-content\/uploads\/2026\/10\/W-ENG-1-1024x436.png\")
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