- Annual Report 2022
BALTIC COMMERCIAL REAL ESTATE MARKET OVERVIEW 2022 - printed version - available upon contacting us
We are pleased to introduce our annual overview covering commercial real estate market trends and forecasts as well as the latest statistics and insights for the Baltic region. 120 pages in total.
Total investment volume in the Baltic States amounted to a record high number - EUR 1.95 billion in 2021, exceeding the total record level achieved in 2015 and showing a significant 80% increase over the previous year’s EUR 1.1 billion. For the sixth year in a row, Lithuania was again the leader with an investment volume of EUR 678 million, followed by Latvia with EUR 665 million and Estonia with EUR 610 million. 2021 was marked by doubling of total investment volume compared to 2020 in Latvia and significant annual growth in investment turnover by 81% in Estonia and by 61% in Lithuania respectively.
More than 400 transactions were closed in total in the Baltics throughout the year, 78% more compared to 2020, with an average transaction size across the market amounting to EUR 4.9 million in 2021. Investors have adjusted to the pandemic and remain in a buying mood, though are more cautious when choosing properties. Investment in real estate is currently used as a hedge against inflation. As a result, Baltic investors were responsible for over three-fourths of acquisitions, while foreign capital in total was just under 23% of invested volume in the Baltic States.
The share of the TOP5 investors exceeded 31% of total investment volume in the Baltic States, although each of them invested at least EUR 75 million. 2021 saw some change in the investor profile as in addition to funds and asset managers with fund origins mainly from Baltic and Nordic countries, new large-scale investors that traditionally do not operate in the real estate business appeared on the market.
Get more insights about the latest CRE market developments and forecast, as well as economy, investment and tax&legal updates, in our latest Baltic region commercial real estate market overview.
To receive the report, please contact firstname.lastname@example.org
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