Report on the Baltic real estate market for the 3rd quarter of 2021
Q3 2021 has been the most active quarter in terms of investment volume in Latvia, exceeding EUR 330 million due to Akropolis Group signing an agreement to acquire the Alfa SC and EfTEN signing an agreement to acquire Jauna Teika BC for EUR 131 million.
Interest in the rental residential segment remains high, which resulted in BTA and YIT going into a joint venture to build rental buildings in all three Baltic capitals.
In Q3 2021, the Riga office market expanded by an additional 2,000 sqm as the Icon office building (fully leased) was put into operation. In addition, three new projects have started since then: the first stage of Gustavs BC, the office building on Mihaila Tala St 1, and Rimi HQ.
Interest in the rental residential segment remains high, which resulted in BTA and YIT going into a joint venture to build rental buildings in all three Baltic capitals.
In Q3 2021, the Riga office market expanded by an additional 2,000 sqm as the Icon office building (fully leased) was put into operation. In addition, three new projects have started since then: the first stage of Gustavs BC, the office building on Mihaila Tala St 1, and Rimi HQ.
You may view https://q3-2021-baltics.colliers.com/