Last year marked a restart for real estate investment in the Baltic states as volumes reached pre-crisis levels, according to a new report published by Newsec.
Last year marked a restart for real estate investment in the Baltic states as volumes reached pre-crisis levels, according to a new report published by Newsec.
Newsec, a Northern European full-service property house, said a total of €430 mln was transacted in the region in 2013 and it expects 2014 to be even better.
The report says 'spectacularly recovering demand’ is triggering new developments in both the commercial and residential sectors. The mid-term economic potential for Lithuania, Latvia and Estonia is robust, which should generate more activity and re-assert the Baltics' position on the European property map.
Newsec said that all three Baltic countries have continued to demonstrate some of the best growth results and government finances within the EU, amid rising private consumption as well as increasing retail trade, stable consumer and business confidence.
The three countries are expected to be among the most rapidly growing economies in Europe within the short and mid term. The currency risk is no longer a risk for businesses and investors as Latvia and Estonia are in the eurozone already, while Lithuania plans to adopt the euro in 2015.
PROPERTYEU @ MIPIM
Follow the news from Cannes by clicking #MIPIM
Debt is the subject for the final MIPIM 2014 investment briefing on Thursday 13 March. The roundtable event is focused on European real estate debt and financing. The panellists are CBRE's Philip Cooper; Peter Lilja, Situs Nordic Services, Denmark; Raphael Brault, AEW Europe, France; Anthony Shayle, Head of Global Real Estate – UK Debt, UBS Global Asset Management and Adolfo Ramírez-Escudero, President CBRE Spain. The roundtable is hosted by CBRE at the CBRE Apartment, No 2 La Croisette Cannes from 10.30-11.30. More information
You can also visit PropertyEU's MIPIM booth at the Frankfurt Stand, Espace Riviera Stand, R33.07
