NewsecNewsec

Vilnius Office Outlook, 2020 Q1

Vilnius Office Outlook, 2020 Q1

Newsec Vilnius Office Market Outlook provides a unique opportunity to follow the Vilnius office market development. The report presents the latest market trends and forecasts, office rental rates and changes, outlook of current new office projects and their developers. The report includes a map of the Vilnius office market with the main office development zones.

KEY INSIGHTS

  • The first quarter of 2020 was active in the office lease segment. Vacancies remained at a record low as the total vacancy rate decreased to 2.5%. The vacancy rate was lower only four years ago and the supply of Vilnius offices increased by 64% during this period.
  • Vilnius office market rapid development will be slowed down by Covid-19, which has highly impacted daily activities of the world and the economy. Development of office projects in Vilnius will continue this year, though the rate of vacancy will increase.