International Internet Magazine. Baltic States news & analytics
Wednesday, 07.12.2016, 10:34
According to Ero Viik, head of Swedbank's real estate department, the supply and demand of Estonian residential developments is in balance and no danger of overheating can be seen on the apartment market at present, writes LETA/BNS.
Keyword tags: Analytics, Banks, Estonia, Real Estate
The volume of real estate funds has doubled since the start of 2015 to 321 million euros at the end of 2016, the Bank of Estonia reports citing LETA/BNS.
Estonian commercial real estate fund manager Eften Capital in 2016 invested 140 million euros in commercial properties, reports LETA/BNS.
Assessing the general development trends of commercial property in Lithuania, it can be seen that currently the eyes of commercial property developers are essentially focused on only certain segments and certain cities – Vilnius and Kaunas. In Vilnius, the office and hotel segments are the subjects of special attention, whereas in Kaunas, it seems that there is a real boom in the construction of office projects. In other regions of the country, investments in the development of commercial property are substantially scarcer – generally, we see the construction of grocery and construction materials’ shops, as well as the renovation of already-existing shopping centres or a few industrial purpose projects in the free economic zones of Lithuania, Ober-Haus writes in review of the commercial real estate market.
Preparations for construction of the multifunctional shopping and recreation center Akropole got under way at 257 Maskavas Street in Riga today, as Akropole representative Kristine Bambe told LETA.
The main risks on the Estonian residential real estate market are connected to growing real estate prices, it can be seen from a fresh report published by the European Systemic Risk Board (ESRB) citing LETA/BNS.
Talks to continue with Latvian and Danish architects over reconstruction of Riga Central Rail Station
A jury for the international sketch design competition for construction of the Rail Baltica bridge and complex development of the central multi-modal public transport hub in Riga has awarded second place to two entries, as none of the sketch designs met all the criteria of the contracting party, the jury told LETA today.
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Germany's retail chain Lidl, which entered the Lithuanian market last June, has unveiled plans to invest around 60 mln euros in expansion next year, the same amount as this year, but it would not disclose how many new stores it expects to open in the country in 2017, reports LETA/BNS.
Baltic branches of DNB Bank are providing 8.4 million euros to the Estonian company 1Home Group AS to build rental apartments for students in Tallinn, Tartu, Riga, Vilnius, Kaunas and Warsaw, reports LETA/BNS.
Rautakesko, the owner of K-Rauta DIY, house and gardening store chain, has been renamed to Kesko Senukai Latvia, its stores will still retain the K-Rauta brand, Violeta Ugarenko, the marketing specialist for Kesko Senukai Latvia said LETA.
mberStone Hotels, an associate company to Latvia's ABLV Bank, has established a subsidiary in Estonia, the bank said in a statement submitted to the Nasdaq Riga stock exchange.
Lithuania has a population of 3 million, and over 35,000 apartment buildings, most erected before 1993. These apartment buildings can usually be characterised by heat consumption that exceeds the consumption rate elsewhere in the EU several times over. It is clear the main way out is through cuts on energy consumption, and through dealing with issues of climate changes and other issues pressing to Lithuania and international community, which is improved energy performance of apartment buildings.
A four-star hotel Courtyard by Marriot should be built in the territory of the former Zalgiris Stadium in central Vilnius in mid-2018. On Wednesday, real estate development company Hanner signed a franchise contract with Marriot International, the world's largest hotel group, reports LETA/BNS.
Residential property prices in Vilnius rose at the fastest rate in the Baltic countries in the first half of 2016, according to a comparative analysis of the Baltic housing markets carried out by Swedbank writes LETA/BNS