75% of all Riga's office premises are over ten years old, which indicates the obsolescence of this segment. This opinion was voiced at the conference “How does the real estate market in Latvia develop?” by the analyst of Colliers International, Agia Verdina. According to her, such centers need new investments, as they are expensive to operate and cannot compete with new office projects. Indeed, in the next couple of years Riga will receive about 100,000 square meters of new offices. In recent years, the average annual volume of transactions with office space was about 40,000 m2, and in 2018 - even did not exceed 30 000 m2. Perhaps the fact of less activity last year is due to the fact that many potential tenants are waiting for the new projects to enter the market. Now, in class A and B + complexes, only 4% of the areas are free, respectively, there is a certain deficit.
From old to new
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