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Kārlis Danēvičs, Board member, Head of Credits and Risk at SEB Banka
News
Baltics Retail MarketView 2019-2020
May 26, 2020
Recently CBRE Baltics has published Baltics Retail MarketView 2019-2020 with overall retail market review for all three Baltic states.
Since 2018, the Baltics have experienced large increases in modern retail stock. Retail stock in the category above a GLA of 10,000 sqm will have increased by 30% by the end of this year in Riga alone, fuelled by retailer appetite and growing retail trade before the pandemic. Structural changes in retail and consumer behavior will require adjustments. However, new retail parks, as well as multifunctional and hybrid developments will continue to confirm the resilience of brick and mortar retail as a sector across the Baltics.
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Since 2018, the Baltics have experienced large increases in modern retail stock. Retail stock in the category above a GLA of 10,000 sqm will have increased by 30% by the end of this year in Riga alone, fuelled by retailer appetite and growing retail trade before the pandemic. Structural changes in retail and consumer behavior will require adjustments. However, new retail parks, as well as multifunctional and hybrid developments will continue to confirm the resilience of brick and mortar retail as a sector across the Baltics.
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Filips Klavins, Managing Partner at Ellex Klavins