Riga trailed Tallinn and Vilnius in construction of industrial and warehouse property in 2017
2018-03-23, 12:05
Published in
Economy
Photo M. Paluskevic
Riga trailed Tallinn and Vilnius by construction of new industrial and warehouse property in 2017, Eriks Bergmanis, a partner at Colliers International real estate consultancy, said at the presentation of the latest Baltic real estate market overview. Last year, 119,030 square meters of new industrial buildings and warehouses were completed in Tallinn, 51,105 square meters in Vilnius and 23,500 square meters in Riga. Another 110,000 square meters of new industrial buildings and warehouses are to be built by 2020 in Tallinn, 60,000 square meters in Vilnius and 44,000 square meters in Riga. In 2017, the share of vacant industrial buildings and warehouses was 3.5% in Riga, 5.4% in Tallinn and 3.4% in Vilnius.
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