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Mantautas Paskevicius, Country Manager of Strategic Staffing Solutions International
According to Baltic Residential Marketview 2019/2020 of CBRE Baltics, after stable growth in 2019, the residential market is likely to slow down in 2020.
In 2019 there was high development activity in residential sector, especially in Tallinn and Vilnius, right now it is clear that during 2020 Baltic market will face a slow down, both in dwelling sales and development. Total value of residential market transactions in 2019 were close to EUR 3 bln and increased by 15% compared to 2018. Ongoing global situation already is putting downward pressure on asking rent rates in all three Baltic capitals, increasing long term rental apartment supply. In terms of new construction apartment asking prices Tallinn is leading the market, followed by Vilnius and Riga.
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Valeria Kogan, Chairman of the Board of Smartomica