in 2024 in the first quarter, 19.5 thousand were rented in Vilnius. sq. m of offices, 3 percent. more than the previous quarter, according to data from the real estate services company CBRE Baltics.
“Despite ongoing challenges related to the Covid-19 pandemic and continued office downsizing, recent data and the emergence of back-to-office policies may indicate a gradual, albeit volatile, recovery in the office market.” In the first quarter, the demand for office space was mostly driven by tenants in the industry and logistics segment, which accounted for more than 35 percent. demand”, the company’s overview presents.
At the beginning of the year, the largest number of office spaces on the Vilnius market was leased by the real estate development company “Hanner” – 6.3 thousand. sq. m, which accounts for 31 percent. market.
According to Hanner’s board chairman Arvydas Avulis, such results of the company were determined by the correctly chosen pricing strategy, flexible adaptation to the customer’s needs, and unlimited supply of parking spaces.
According to him, companies are currently most interested in the central business district of Vilnius (English central business district, CBD) – in the first quarter of the year, the most popular were the “Europos” business center and the “Business Stadium” quarter.
“We have a reason to consistently continue investing in the construction and modernization of business centers. The image of Vilnius will be replaced by the business center “Business Stadium Central” designed by “Zaha Hadid Architects” office, which has reached the top floor. It will raise the quality bar of business centers to a new level”, says A. Avulis.
According to him, there is a great interest of tenants in this business center, which will become the central building of the Business Stadium block, and the first lease agreements have already begun to be negotiated.
“Hanner” has more than 110 thousand in its commercial real estate portfolio. sq. m of rented premises.
