NLCC Bronze Member – CPB Real Estate Services – has recently published Vilnius Offices Marketview Q4 2017.
Some key points:
- There was a single modern office delivery in 4Q, yet a productive 2017 resulted in a solid y-o-y stock increase of 77,000 sq m or 13.2%.
- In 2018, supply is expected to slow down with seven upcoming projects and approximately 48,100 sq m of new floor space.
- Take-up, which was led by international shared service centres, amounted to 14,900 sq m.
- The vacancy rate marginally decreased and is expected to decline further until 2019.
- Prime A class office rents are currently at 14 – 16.5 EUR and B class at 9 – 13.5 EUR. The levels of rent are expected to increase as a result of more expensive projects in the pipeline.
Full report: CBRE VILNIUS OFFICES Marketview 4Q 2017