The Baltic markets saw €480 mln of commercial real estate transactions last year, according to Colliers International.

The Baltic markets saw €480 mln of commercial real estate transactions last year, according to Colliers International.

Estonia was the leader with an investment volume of around €214 mln, followed by Latvia with €156 mln and Lithuania with €111 mln.

The investment turnover was down by 25% in 2012 compared to the €643 mln closed in 2011. But Colliers noted that investment activity in 2011 was driven by several large single deals such as the acquisition of Kristiine Shopping Centre in Tallinn for €105 mln, which comprised almost 16% of the total transaction volume of the year.

Retail continued to dominate the investment landscape, accounting for 37% of all investment activity. Interest in retail properties is driven largely by stable retail sales growth figures across the region during the last two years.

The full report is available on Colliers International website www.colliers.lv