Analytics, Good for Business, Latvia, Real Estate
International Internet Magazine. Baltic States news & analytics
Saturday, 27.04.2024, 01:30
TOP 10 real estate investment deals in 2019 in Riga
Investment volume
in cash flow objects in 2019 has been kept at a similar level as a year before –
approx. EUR 300 mln, with office and retail transactions accounting for 75% of
total investment volume last year.
Industrial cash
flow objects are of increasing interest to investors - two industrial real
estate transactions got into TOP 10 largest real estate deals of 2019, two more
investment transactions in this segment have been concluded in early 2020. In
general, the market demonstrates strong interest not only in cash flow objects,
but also in land for development and housing properties - in 2019, land plots for
office, retail and residential development have been actively acquired.
Compared to 2018,
the share of local investments has dropped significantly from 43% in 2018 to
only 9% in 2019. Scandinavian investors (mostly funds) have performed most
actively, representing 44% of the total investment volume in cash flow objects.
Besides, last year the volume of deals by international investors has
increased, providing 28% of the total volume, largely due to new investors’ market
enterance. It is also noteworthy that the land plots for development have been
actively acquired by our Baltic and Scandinavian neighbours while local
developers mostly acquired buildings for reconstruction.
“The total volume of real estate investment
transactions in the Baltics exceeded EUR 1 billion in 2019, which is quite good
indicator. The largest volume of transactions has been observed in Lithuania,
the smallest - in Estonia. Latvia stood out with a number of noticeable deals with land plots for development
in Riga as well as new investors entrance to the market,” comments Denis
Kairans, Colliers Baltics partner.
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