Belarus, Estonia, Latvia, Lithuania, Markets and Companies, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 12:14

Latvia has among lowest office rental prices in region – real estate portal

BC, Riga, 17.09.2018.Print version
The average rent per square meter for offices in Riga is lower than in Estonia’s Tallin, but higher than in Lithuania’s Vilnius, according to Estonia’s Ria.com Marketplace real estate portal operating on the Ukrainian market, cities LETA.

The average rent per square meter of office space in Riga is around 15 euros. Office rent in the capitals of Ukraine, Belarus and Poland is more expensive than in any of the Baltic capitals.


According to city24.ee, Tallin’s market has 2,621 offices for rent, including 165 with a floor space over 1,500 square meters, among which there are not more than 20 premium class offices, and this category can be rented for 11,000-17,000 euros a month. An office of 500 square meters in the suburbs are rented for EUR 5,000-8,000, and there are 155 such offers.


Tallinn also has 455 offices of 150 square meters for rent for 2,000-3,500 euros.


Vilnius and Riga are cities attracting many new companies recently, and the supply of rental offices is not big. According to rentinriga.lv data, rent of offices of up to 1,500 square meters costs 9,000-18,000 euros a month and there are just five offers in the group.


Rent of office space around 500 square meters costs 3,500-7,000 euros a month, and there are about 50 such offices for rent. Rent of offices of about 150 square meters will cost 1,500-2,000 euros and there are about 100 such offices, but just half of them is in a “very good condition”.


In Vilnius, according to aruodas.lt, there are 1,424 offices for rent. Rent of 1,500 square meters is around 15,000 euros with 62 such offices. Offices of 500 square meters are rented for 4,200-6,000 euros with about 150 such offers. Offices of 150 square meters will cost 1,800-2,700 euros per month and there are about 414 such offices for rent.

 






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