FLEXIBLE SPACE REPORTS KAZAKHSTAN Q2 2021
Cushman & Wakefield has published the latest Flexible Space reports on the cities of Almaty and Nur-Sultan (Astana).
Almaty: The average rental rate for a desk has decreased by 3.75%, coming down from 80,000 KZT per working space to the current 77,000 KZT. This has been followed by a slight decrease in occupancy levels from 60.5% to the current 59% this can be attributed to new openings in the markets that in the near future will have an impact on the statistics market wide. The total square meters occupied by flexible space operators has grown by 18.5% over the course of the second quarter, from 21,000 m2 to 25,000 m2.
Nur-Sultan (Astana): The flexible space industry in the city has been experiencing a fragile recovery over the past 2 quarters with flexible stock expansion registered as of H1 2021. However, there have been a total of 4 closures since the beginning of the year and a total of 6 closures since 2020. The average rental rate increased by 3,000 KZT, followed by a 6% QoQ decrease in occupancy levels.
Discover flexible space market performance by contacting the research department.