We are pleased to introduce our annual overview covering commercial real estate market overview 2022 as well as trends and forecasts 2023, including latest statistics and insights for the Baltic region.
Despite war outbreak in February 2022 in Ukraine, the region so close to the Baltics, and investors’ initial cautiousness as well as number of projects put on hold due to uncertainty and construction cost increase, the total volume of commercial real estate investment in the Baltics still exceeded the EUR 1 billion mark in 2022 (amounting to EUR 1.27 billion), for the fifth year since 2018. Though, compared to 2021 when investment volume has almost reached 2 bln EUR, 2022 saw the decrease in total investment volume.
The investment market recorded several large and medium-size single and portfolio deals: the retail segment continued to be investors’ top choice, attracting 37% of total volume in 2022, followed by the office (25%) and industrial sectors (22%). Attention to such emerging asset classes as the residential rental segment and senior housing continued to gain momentum.