- Annual Report 2022
BALTIC INDUSTRIAL MARKET OVERVIEW 2022
Baltic industrial and stock office market overview 2022 supplemented with economy and investment overview and tax&legal latest updates.
54 pages in total.
By the end of 2021, estimated total stock of modern
industrial facilities in Tallinn and Tallinn region exceeded 1.78 million sqm,
with the demand having remained largely driven by retailers, distributors,
metal manufacturers, transportation and storage companies.
Nearly 85,000 sqm of new industrial space was constructed during the year around Riga, mainly in 2 districts: the Airport area and Rumbula, which had already proven to be successful industrial locations. The high volume of new developments commissioned at the beginning of 2021 was soon absorbed and at the end of the year vacancy levels had decreased, while take-up activity switched to new developments.
Robust demand for modern warehouse space led to an active leasing market in Vilnius and Kaunas, while the increased construction costs and lack of new supply led to an upward correction of prime rent rates across the country.
Get more insights and forecasts, as well as economy and investment updates, in our latest Baltic industrial market overview.
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