Auction for renting office space in Lutsk: the price has increased more than 117 times

On January 20, 2021, an auction has held for the lease of premises of 48.2 sq.m in the building of the Office of the State Service for Educational Quality of Volyn Region.

Due to the high demand for this leased object, four candidates took part in the auction, thus the cost of rent increased more than 117 times - from the starting UAH 48.20 to UAH 5,001.

It is worth noting, that this price increase is due to the algorithms of online auctions, which motivate participants to make high initial price offers, on which depends the further competitive advantage during bidding.

According to the Procedure for Leasing State and Municipal Property, the winner has 3 working days to sign the protocol and 20 working days to conclude a lease agreement from the day following the day of formation of the protocol on the results of the auction.

The lease agreement will be concluded with the winner of the auction, if he pays the following payments within the specified period:

advance payment in the amount of rent for 2 months (including VAT);

security deposit in the amount of rent for 2 months (excluding VAT).

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