The volume of commercial real estate transactions in the Baltic countries this year will increase by 6%. This forecast was voiced by a representative of Newsec - Neringa Rastanite-Yanchuniene. Last year, transactions in this segment were carried out at 800 million euros, of which 248 million euros was in Latvia. Neringa Plantenite-Jančuniene sees the basis for the further development of the commercial segment, including the good level of returns that such facilities in the Baltics provide. In Riga it is 6.5% per a year, in Vilnius and Tallinn - 6.25% each. Although in the old Europe one usually has to be happy with a return of 2-4% per a year.
According to analysts from Newsec, tenants in the capital of Latvia now has available 650,000 m2 of office space, plus another 62,000 are under construction. Spaces under constraction in 30% cases has class A, 70% - class B. The rates for office rent in Riga remain quite stable all the past years: for class A it is from 13 to 17 euros per m2, for class B - from 8 to 12 euros. Speaking about this, the head of the Baltic research and analytics department of Newsec Mindaugas Kulboks stressed that the economy of the Baltic countries is stable and shows good growth rates.