Агентство недвижимости RD Global

Commercial Real Estate in Latvia

Commercial real estate market in Latvia during the last 6 months shows increasing activity. Experts agree that today we can speak about the restoration of commercial real estate market is of decisive importance for the position of banks as the market of commercial and residential real estate. The complexity of credit limits demand. At the same time, banks, owning a large part of the alienated property, not in a hurry to sell it on the open market, expecting a rise in prices in the future.

Office segment

Riga retains the position of the center of the property market. At the moment there is the greatest demand for office space by size not exceeding 200 square meters, are in high demand among the various financial, legal, and transportation companies. The availability of free Class A office space Class A - about 5-7%, most of which are already occupied by banks that are planning to place its offices there. Experts predict that in the long term good offices may not even be enough, because it is in this segment of the lowest total supply of premises. Note that in Riga, there are only a couple of office buildings, Class A and free offers has always been enough. Classes B and C class office premises of the Free B - about 22-25%. They are in demand in small companies. The biggest accessibility observed in the sector C (30%), which can still grow in 2011.

Sevice

Free places to rent in the best shopping centers, there is little (2-5% free). But in small towns - in the supermarket about 30% of free trade areas. Price for the segment during the crisis has declined substantially and further fall in rates is not predicted.

Warehouses

At today are not engaged in about 30% of warehouses in Riga and its suburbs, and farther from the capital - 45%. Experts predict that the improving economic situation activates the movement of tenants and small correction in the average rent.

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