The Baltic warehousing and logistics property market is getting back on its feet and strongly moving forward, with the prime properties showing the lead.
After painful adjustments to the new market conditions during the crisis, which caused sharp rent rate decreases and dramatic vacancy increases (especially in the speculative and lower class W&L properties), the W&L property market experiences a robust come-back.
The prime W&L vacancies in the Baltic capitals are as low as 5% in Vilnius (LT) and 10% Tallinn (EE) and Riga (LV), whereas the prime rent rate increases for top class premises are expected to be of 3-4% p.a. in Vilnius and Tallinn, and up to 10% p.a. in Riga in 2012-2013.
In Vilnius, the companies which require modern W&L spaces larger than 3,000 m