November 2, the annual Baltic Real Estate Leaders or BREL Forum took place in Riga, bringing together leading executives of the real estate industry from Latvia and other Baltic and European countries. Experts focused on the leading trends of the moment: the ever-increasing impact of modern technology on the real estate market; the need for planning of smart and sustainable urban and working environments as well as an increase in the flow of investments in the direction of property with added value. For example the future of the retail market is shopping malls that offer more value than just shopping. The centres should be places where people like to spend their leisure time.
The forum's lecturers predicted that the role of technology will continue to grow in the coming years, affecting both the real estate business and traditional retail sectors. At the same time, the construction of new projects will be more likely to be replaced by the renovation of already existing buildings and a boom of industrial parks, highlighting new trends in the currently tumultuous investment market.